New listings posted their biggest year-over-year increase since 2021 during the four weeks ending November 19. The median monthly mortgage payment has fallen more than $100 over the last month as rates dropped from 8% to 7.3%. Buyers are acting on the good news: Mortgage-purchase applications increased 4% this week to their highest level in six weeks.
We’re taking a break from analysis this week, but please see the bullet points and charts below for this week’s housing-market data. We’ll be back with full commentary in next week’s report. Happy Thanksgiving!
Refer to our metrics definition page for explanations of all the metrics used in this report.
