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The U.S. median rental price hit a record high for the 16th consecutive month in June but renting remains cheaper than buying a home. Indeed, the four-decade high inflation, soaring mortgage rates and...
/PRNewswire/ -- New data illustrates how higher mortgage rates are increasingly tipping the housing affordability scale in favor of renting over first-time...
Home builders are hitting the brakes as building costs rise and prospective buyers get priced out of the market.
The building slowdown comes as rising mortgage rates and home prices continue to discourage potential buyers, said Joel Berner, senior economic research analyst for Realtor.com.
New residential construction dipped in June, with building permits, housing starts and housing completions ticking down modestly.