Housing Market
All Reports
July 20, 2023
Prices posted their biggest increase in over seven months, with more demand than supply as high mortgage rates deter sellers. That pushed monthly housing payments to an all-time high. Prices will likely continue rising for at least the next several months. The typical U.S. home sold for $382,500 during the four weeks ending July 16, […]
July 18, 2023
14 of every 1,000 homes changed hands in the first half of 2023, compared to 19 of every 1,000 during the same period in 2019. The pandemic homebuying boom depleted supply, and it hasn’t been replenished because homeowners are hanging onto their relatively low mortgage rates. The turnover rate for large suburban houses has declined […]
July 17, 2023
The median sale price was just 1.5% below its all-time high in June, and the average home sold for above its list price for the first time in roughly a year. The number of homes for sale fell 15% to an all-time low in June, the biggest decline in two years, as elevated rates kept […]
July 13, 2023
Elevated mortgage rates are cutting into homebuyers’ budgets; a buyer on a $3,000 monthly housing budget has lost $30,000 in purchasing power over the last five months. But this week’s inflation report–which shows that consumer prices are cooling quickly–provides a glimmer of hope that mortgage rates could gradually start to come down. The median U.S. […]
July 12, 2023
Rent growth has slowed rapidly, but rents remain costly as landlords offer perks like free parking instead of lowering prices to fill vacant units. The good news is that months of cooling rent increases are finally helping bring down inflation in a big way. The U.S. rental market has been slowing for more than a […]
