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
For Week Ending July 9, 2022 Homebuyers felt a tinge of relief recently as mortgage rates softened somewhat, with the 30-year fixed-rate mortgage falling from 5.7% to 5.3% the week ending July 7, the biggest one week decline since 2008, … Continue reading
July 14, 2022 Mortgage rates are volatile as economic growth slows due to fiscal and monetary drags. With rates the highest in over a decade, home prices at escalated levels, and inflation continuing to impact consumers, affordability remains the main … Continue reading
