A monthly update of housing market supply, demand, and prices.
New listings inched up as some homeowners opted to cash out, fearing that elevated mortgage rates could drive a drop in home prices. Pending sales also saw a slight bump as the uptick in listings brought some house hunters off the sidelines. But home purchases fell through at the highest rate in nearly a year […]
Some homebuyers got cold feet as mortgage rates hit the highest level in over two decades and prices continued to rise, but buyer demand and new listings have stabilized following months of declines. Residential real estate deals are falling through at the highest rate in almost a year as high mortgage rates give homebuyers sticker
Home Purchases Fell Through at the Highest Rate in Nearly a Year in August Read More »
Pending sales have stabilized following months of steep declines, but homebuyer demand remains below pre-pandemic levels as house hunters grapple with elevated mortgage rates, high prices and a lack of supply. Pending home sales inched up in July—rising 0.7% from a month earlier to the highest level since the start of the year on a
Pending Home Sales Ticked Up in July But Still Hovered Near Recent Low Read More »
The median sale price was just 1.5% below its all-time high in June, and the average home sold for above its list price for the first time in roughly a year. The number of homes for sale fell 15% to an all-time low in June, the biggest decline in two years, as elevated rates kept
Homes Are Selling for Near-Record Highs as Supply Falls to New Low, Demand Picks Up Read More »
The pool of homes for sale is shrinking because homeowners feel trapped by rising mortgage rates, with new listings down 25% to the third lowest level on record. A shortage of homes for sale is fueling bidding wars in some areas despite sluggish homebuyer demand; 37% of homes that sold in May went for more
There Were Fewer Homes for Sale in May Than Any Other Month on Record Read More »
Pandemic boomtowns and pricey coastal markets are seeing historic home-price declines. Nationwide, the median home sale price dropped nearly $18,000 from a year earlier in April as elevated mortgage rates dampened homebuyer demand. The median U.S. home sale price fell 4.1% ($17,603) year over year in April to $408,031. That’s the biggest drop on record
Homes in Austin and Boise are Selling for $80,000 Less Than a Year Ago Read More »