Housing Market
All Reports
June 21, 2023
The pool of homes for sale is shrinking because homeowners feel trapped by rising mortgage rates, with new listings down 25% to the third lowest level on record. A shortage of homes for sale is fueling bidding wars in some areas despite sluggish homebuyer demand; 37% of homes that sold in May went for more […]
June 15, 2023
Inventory has posted its biggest decline in over a year, with homeowners hanging onto their comparatively low mortgage rates. That trend will probably persist, as the Fed’s announcement that it may hike interest rates a few more times is likely to keep mortgage rates elevated. Low supply is stifling sales, but many buyers are still […]
June 14, 2023
Roughly 4 in 5 homeowners with mortgages have an interest rate below 5%, and nearly one-quarter have a rate below 3%. With rates now close to 7%, many homeowners aren’t moving, which is intensifying a shortage of homes for sale. Rates would need to fall quite a bit to motivate homeowners to put their home […]
June 9, 2023
Nationwide, rents declined 1% from a year earlier in May—the largest drop since 2020— as a building boom increased supply and economic uncertainty cooled demand. The median U.S. asking rent fell 0.6% year over year to $1,995 in May—the largest annual decline since March 2020, when the coronavirus was declared a pandemic. That compares with […]
June 8, 2023
New listings have hit their lowest level of any early June on record, limiting home sales and keeping prices afloat. But many buyers are still touring homes, indicating that we’ll see pent-up demand when mortgage rates fall and supply improves. New listings of homes for sale fell 25% from a year earlier during the four […]
