Monthly Market Update

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 […]

High mortgage rates are keeping homebuyers on the sidelines, leading to declining home sales and a build-up of supply.

Home sales fell in May for only the second time on record, while home prices saw the smallest May increase on record.

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.

The hottest March on record ended with early signs of a cooldown as more buyers were edged out by soaring mortgage rates, sky-high prices and few new listings. It was the hottest March ever for the housing market, with homes selling at their fastest pace and for more above list price than any other March

Record-low supply spurs unprecedented winter homebuying competition.