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Near-7% mortgage rates are preventing both would-be homebuyers and would-be sellers from entering the market. Construction of new single-family homes is near its highest level in almost two decades, providing some hope for an uptick in inventory by next year.
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 than their list price, a higher share than usual for... | June 21, 2023
Inventory has posted its biggest decline in over a year, with homeowners hanging onto their comparatively low mortgage rates ... | June 15, 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 ... | June 9, 2023
All-cash home purchases have reached their highest level since 2014, and the share of buyers using FHA loans has reached its highest level since before the pandemic. Meanwhile, the typical... | June 7, 2023