For Week Ending July 23, 2022 Mortgage applications declined for the fourth straight week, falling 1.8 percent from the previous week and marking the lowest level of activity since February 2000, according to the Mortgage Bankers Association. Increasing mortgage rates, … Continue reading
July 28, 2022 Purchase demand continues to tumble as the cumulative impact of higher rates, elevated home prices, increased recession risk, and declining consumer confidence take a toll on homebuyers. It’s clear that over the past two years, the combination … Continue reading
For Week Ending July 16, 2022 Increasing homeownership costs have led many prospective homebuyers to continue renting, adding additional pressure to an already highly competitive rental market. Rental vacancy rates have remained below 6% since Q3 2021, a 3-decade low, … Continue reading
As existing home sales continue to soften nationwide, housing supply is slowly improving, with inventory up for the second straight month.
July 21, 2022 The housing market remains sluggish as mortgage rates inch up for a second consecutive week. Consumer concerns about rising rates, inflation and a potential recession are manifesting in softening demand. As a result of these factors, we … Continue reading
Median sales price reached a record $380,000 despite declining sales June inventory up 9.8 percent, a second consecutive year-over-year increase Softer demand led to longer days on market, up 5.0 percent to 21 days, on average (July 18, 2022) – … Continue reading
