Current Market Data

After May bump, pending-home sales hit June dip 

“Contract signings to buy a home will keep tumbling down as long as mortgage rates keep climbing, as has happened this year to date.” — National Association of Realtors chief economist Lawrence Yun  

June new-home sales drop 8.1% month over month

At the same time, the inventory of new homes for sale rose 10.7%, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.

Single-family housing starts fall for fourth month in a row in June 

The pace of new multifamily construction, however, jumped, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.  

Housing prices begin to fall from June’s record-breaking peak

Inflation and high mortgage rates are impacting potential homebuyers which means fewer sales, more supply and a drop in home prices. 

Record share of homebuyers relocating to more affordable areas

A record number of homebuyers are relocating to more affordable areas as rising mortgage rates, high home prices, inflation and economic concerns are starting to make some areas of the country out of reach for buyers.

NAR: Existing-home sales continue slide in June 

At the same time, the median existing-home price rose 13.4% year over year to $416,000. 

Dallas housing inventory jumps in RE/MAX survey  

Nationwide, sales hit their highest level of the year, rising 4.7% from June but falling 17.6% on a year-over-year basis, RE/MAX said. 

NAHB: Builder confidence falls for seventh consecutive month in July

July saw the NAHB/Wells Fargo Housing Market Index post its second-largest monthly drop ever, as worries about housing affordability dampened builder sentiment. 

Home supply is up for first time in three years

High mortgage rates and increased prices are keeping homebuyers on the sidelines.

Homebuyers starting to find relief as market balances out

Today buyers are finding more inventory, slowing price growth, competition declines and dropping mortgage rates.

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