New listings are down 12% from a year ago as sellers respond to waning homebuyer demand. Still, overall housing supply is on the rise…
Measures of homebuyer activity such as online searches, requests for tours and agents’ help, and mortgage applications rose as mortgage rates fell below 5%.
Since mortgage rates came down from their June high, measures of early demand like online real estate searches and home tours have ticked up and/or stabilized.
Buyers can now take their time touring and considering homes before making an offer. Still, selection remains very limited despite supply being up, as few homes are being listed and even fewer are selling.
Inflation and high mortgage rates are taking a bite out of homebuyer budgets, leading to fewer sales and supply gains.
High mortgage rates are keeping homebuyers on the sidelines, leading to declining home sales and a build-up of supply.
New listings are down 12% from a year ago as sellers respond to waning homebuyer demand. Still, overall housing supply is on the rise…
Measures of homebuyer activity such as online searches, requests for tours and agents’ help, and mortgage applications rose as mortgage rates fell below 5%.
Since mortgage rates came down from their June high, measures of early demand like online real estate searches and home tours have ticked up and/or stabilized.
Buyers can now take their time touring and considering homes before making an offer. Still, selection remains very limited despite supply being up, as few homes are being listed and even fewer are selling.
Inflation and high mortgage rates are taking a bite out of homebuyer budgets, leading to fewer sales and supply gains.
High mortgage rates are keeping homebuyers on the sidelines, leading to declining home sales and a build-up of supply.