Home prices see biggest drop in 9 years, Thanks to higher mortgage rates
Both home prices and the pace of home sales are falling nationally as higher mortgage rates cool off the market. Higher mortgage rates are throwing a bucket of ice-water on the super-heated housing market. Home prices in August were down about 6% from their peak in June, the biggest 2-month drop in
The Housing Market Slowdown, Explained in 7 Charts
After mortgage rates hit record lows during the pandemic, driving up demand for new homes and pushing up listing prices, the housing market is now slowing down. That’s good news for buyers who can afford to stay in the market. But many prospective buyers are being priced out as high mortgage rates a
More Pending Homes Are Falling Through, but No Need to Sound the Alarms
By Nicole Bachaud on Sep. 8, 2022 The share of contract cancellations — pending listings that have gone back on the market without a sale — has recently increased, but remains in line with pre-pandemic norms. The recent increase in contract cancellations is more evidence of a rebalancing in the hous
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