Mike Simonsen

In this discussion, Mike Simonsen, Chief Economist at Compass, unpacks the impact of falling mortgage rates on housing inventory. He reveals how lower rates might not benefit homeowners as expected and explores buyer and seller behavior in this evolving market. The conversation dives into regional differences, particularly in California and the Northeast, highlighting migration patterns and their influence on inventory. Simonsen also critiques rising home price reductions and the complexities of pending sales as interest rates fluctuate.