What impact will rising interest rates have on tight housing market?

• Scott LaMar
  BioRecent Stories

  

  Scott LaMar has worked in both radio and television for more than four decades.
  
  Currently, LaMar is the Host and Executive Producer of The Spark program on WITF-FM, 89.5 & 93.3 in Harrisburg, Pa.
  
  Previously, LaMar was WITF TV’s Sr. Public Affairs producer and produced the station’s award-winning weekly public affairs TV program, Smart Talk.
  
  In addition to his on-air duties, LaMar has moderated political candidate debates, including those for candidates running for Pennsylvania governor and the U.S. Senate and was a regular contributor to BBC World News TV before and after the 2020 U.S. Presidential election.
  
  LaMar often emcees or moderates local events and has gone as far as California to emcee a national event.
  
  The American Society of Civil Engineers honored LaMar with their national Excellence in Journalism award in 2020. He has been nominated for five Mid-Atlantic Emmy Awards.
  
  LaMar and The Spark have been recognized throughout the Central Pennsylvania community including ADVOZ Lancaster’s “Dignity in Dialogue Award”, the South-Central Assembly’s “Regional Citizen Award” and was named a “Humanitarian Hero” by The Humane Society of the United States/Pennsylvania.
  
  A native of Coatesville, Pa., LaMar has also worked as a broadcast news anchor, sports play-by-play announcer and manager.

 Steven Senne / AP Photo

In this 2020 file photo, a real estate brokerage sign stands in front of a house in Norwood, Mass.

Airdate: July 15, 2022

Over the past year, the housing market has seen high demand from buyers, fewer homes for sale, and higher prices. As the Federal Reserve raises interest rates, what impact will it have on home sales?

In Pennsylvania, 12,759 homes were sold from June of 2021 to last month; more than 33,000 were for sale, the houses for sale and sold were on the market for a median of 20 days and 53% of homes sold above list price.

New Cumberland is one of the hottest locations for homes sales in the country while Camp Hill, Ephrata and Mechanicsburg are all in Pennsylvania’s most competitive markets.

Friday’s Smart Talk zeroes in on the housing market with Christopher Beadling, President of the Pennsylvania Association of Realtors and Elle Hale, President of the Realtors Association of York and Adams Counties.