“Sellers took the week off for Thanksgiving, but buyers were still out there searching for homes despite the lack of new listings,” said Redfin chief economist Daryl Fairweather. “Sellers continue to be in the driver’s seat when it comes to pricing. And with mortgage rates hitting new record lows nearly every week recently, buyers are tolerant of higher prices. The lack of new listings will put a lid on home sales through the end of year. The few desirable homes put on the market will receive competitive bids, while sellers who don’t get any bites from buyers will give up and take their homes off the market.”
