Weekly Market Update

U.S. home prices are increasing and mortgage rates ticked up last week after dipping to their lowest level in a year. Rising costs and widespread financial uncertainty are causing house hunters to retreat.  We’re taking a break from analysis this week, but please see the tables and charts below for this week’s housing-market data. We’ll […]

Would-be homebuyers are sitting on the sidelines, wary of economic uncertainty and still-high housing costs. A dwindling pool of supply is propping up prices.  The median U.S. home-sale price rose 2.3% during the four weeks ending November 16, the biggest increase in seven months. Sale prices are rising despite slow homebuying demand because total inventory

The homes that do sell are taking a long time to find buyers, who are wary of high housing costs and economic instability.  U.S. pending home sales fell 0.3% from a year earlier during the four weeks ending November 9, a tiny decline but the first in four months. The homes that are selling are

Homes are selling at the slowest pace for this time of year since 2019.  U.S. pending home sales ticked up 0.7% year over year during the four weeks ending November 2, the smallest increase in four months. Homes are also taking longer to sell: The typical home that sold in October went under contract in

Many would-be buyers are still spooked by rising sale prices and economic instability, but some are creeping off the sidelines. The median U.S. monthly housing payment was $2,530 during the four weeks ending October 26, down 1.4% year over year. That’s the biggest decline since November 2024. Monthly payments fell mainly because mortgage rates declined

A homebuyer on a $3,000 budget has gained $26,000 since last year as mortgage rates drop to the low-6% range. But pending home sales are still slipping.  The daily average mortgage rate dropped to 6.17% this week, near the lowest level in three years. Lower mortgage rates are curbing growth in monthly mortgage payments; the