July 20, 2023 As inflation slows, mortgage rates decreased this week. Still, the ongoing shortage of previously owned homes for sale has been a detriment to homebuyers looking to take advantage of declining rates. On the other hand, homebuilders have … Continue reading
Existing Home Sales
New Listings and Pending Sales
Inventory
Prices resume their ascent; sales declines moderating; sellers still sluggish
The median sales price was up 0.5 percent from last June to $382,000 Signed purchase agreements fell 10.8 percent; new listings down 16.5 percent Sellers accepted offers for an average of 101.3 percent of their list price (July 16, 2023) … Continue reading
Weekly Market Report
For Week Ending July 8, 2023 Rental prices are beginning to decline, with rents for 0-2 bedroom properties dropping 0.5% year-over-year to $1,739 per month among the 50 largest metropolitan areas, according to Realtor.com’s most recent Monthly Rental Report, marking … Continue reading
Mortgage Rates Jump, Inching Toward Seven Percent
July 13, 2023 Mortgage rates increased to their highest level since November 2022, the last time rates broke seven percent. Incoming data suggest that inflation is softening, falling to its lowest annual rate in more than two years. However, increases … Continue reading
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending July 1, 2023 Buyers everywhere are feeling the crunch when home shopping this year, but middle-income households—those earning up to $75,000 per year—are perhaps experiencing the strongest competition overall due to a shortage of homes in their … Continue reading
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