MSNBC Chris Jansing Reports June 4, 2024 18:05:00
Supply. there are still too few homes for sale, given the continued strong demand. now, as you said, sales were up month to month, but just barely, under 1%, and still down 21% from a year ago, and he's why. take a look at mortgage rates, they started dropping off their fall highs in december, and came down sharply in january. boom, they shot right back up in february. these sales are called pending sales. that's a report we got today, and they're based on signed contracts in the month. that's people out shopping when their purchasing power got clipped because of these higher rates, and you ca...