A monthly update of housing market supply, demand, and prices.
Both buyers and sellers retreated in September as surging mortgage rates made moving more expensive. Still, home prices rose 8% year over year due to persistent tight supply and inflation. About 60,000 deals were called off, equal to 17% of homes that went under contract—the highest share on record aside from March 2020. A record […]
New listings fell 8% in August to their lowest level since May 2020. Prior to the onset of the pandemic, the last time so few homes hit the market was August 2012.
Prospective Home Sellers and Buyers Retreated as Mortgage Rates Approached 6% Read More »
Buyers backed off amid high mortgage rates and economic uncertainty. New listings were also down, with some prospective sellers staying put as price growth slowed. Home sales dropped 19.3% year over year in July to their lowest level since the beginning of the pandemic, when the housing market was at a near standstill. That’s also
July Home Sales Dropped 19% Year Over Year to Lowest Level Since Mid-2020 Read More »
High mortgage rates are keeping homebuyers on the sidelines, leading to declining home sales and a build-up of supply.
Home Supply Is Up For The First Time In Nearly 3 Years Read More »
Home sales fell in May for only the second time on record, while home prices saw the smallest May increase on record.
Home Sales Post Rare May Decline as Mortgage Rates Rise Read More »
The number of homes for sale shrank at its slowest pace in April since the start of the pandemic. Home sales fell and price growth slowed as soaring mortgage rates prompted more buyers to throw in the towel.
Historic Housing Shortage Shows Signs of Letting Up as Sales Decline Read More »