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Weekly Market Update

A weekly update of housing market supply, demand, and prices.

Pending Home Sales Slip for First Time Since Early April as Mortgage Rates Climb

Mortgage rates jumped to a 10-month high, spooking would-be homebuyers and sellers after a few weeks of solid demand.  U.S. pending home sales fell 1.1% from a week earlier during the week ending May 17, the first decline since early April. Pending sales are still at their second-highest level since September 2022, but it’s notable […]

Pending Home Sales Slip for First Time Since Early April as Mortgage Rates Climb Read More »

Pending Home Sales Jump 10% From a Year Ago to Highest Level Since 2022

Sale prices are rising as homebuying demand strengthens.  U.S. pending homes sales jumped 9.6% year over year to their highest level since September 2022, on a seasonally adjusted basis. Pending sales are rising in every major U.S. metro except three (Houston, Detroit and Seattle). Mortgage-purchase applications are up 4% week over week.  Strengthening demand is

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More Homeowners Are Putting Up ‘For Sale’ Signs As the Days Get Warmer

We’re seeing a small spring rebound, with new listings of homes for sale ticking up. New listings of U.S. homes for sale rose 3% year over year during the four weeks ending April 19, the biggest increase since November.  Pending home sales fell 1.2% year over year, the smallest decline in about a month. Mortgage-purchase

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This Spring’s Housing Market Is Unseasonably Slow As Iran War, High Costs Curb Demand

Pending home sales are declining and touring activity is slumping.  U.S. pending home sales fell 4.1% from a year earlier during the four weeks ending April 12, the biggest decline in over a year.  Sales fell in all but seven of the 50 biggest U.S. metro areas, with the biggest declines in Providence, RI (-17.5%),

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