housing

Housing Demand: Somewhat Resilient In The Face of Rising Mortgage Rates

Mortgage rates have climbed back near a one-year high. Months of supply have risen, pointing to weaker price growth. Key Takeaways * Higher mortgage rates caused housing affordability to deteriorate. The payment on the typical U.S. home has risen about $146 a month when compared to February. Despite that,

Lower home sales, higher inventory set up price decline

new construction

The New-Home Market Isn’t Collapsing. But Prices Are Losing Support.

New home sales fell in April, another sign that deteriorating household financial conditions are cooling housing demand. The rise in new home inventory sets up future price declines.