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Homes Are Selling for Near-Record Highs as Supply Falls to New Low, Demand Picks Up

Homes Are Selling for Near-Record Highs as Supply Falls to New Low, Demand Picks Up

A record low number of homes for sale combined with an uptick in homebuyer demand propped up housing prices in June, even as elevated mortgage rates kept many buyers on the sidelines. The median U.S. home sale price was $426,056 in June, just[...]
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Housing Market Update: Home Prices Climb 2% From a Year Ago, With Low Supply Fueling Competition

Housing Market Update: Home Prices Climb 2% From a Year Ago, With Low Supply Fueling Competition

Prices posted their biggest increase in over seven months, with more demand than supply as high mortgage rates deter sellers. That pushed monthly housing payments to an all-time high. Prices will likely continue rising for at least the[...]
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Rental Market Tracker: The Typical U.S. Asking Rent Is Only $24 Below Its Record High

Rental Market Tracker: The Typical U.S. Asking Rent Is Only $24 Below Its Record High

The U.S. rental market has been slowing for more than a year, but the median asking rent is still only $24 below its record high. It was $2,029 in June, little changed from $1,995 one month earlier, $2,019 one year earlier and a record high of[...]
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Housing Market Update: U.S. Home Prices Rise For the First Time in Nearly Five Months

Housing Market Update: U.S. Home Prices Rise For the First Time in Nearly Five Months

Elevated mortgage rates are cutting into homebuyers’ budgets; a buyer on a $3,000 monthly housing budget has lost $30,000 in purchasing power over the last five months. But this week’s inflation report–which shows that consumer[...]
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Housing Market Update: The Typical U.S. Home Is Selling For Just $4,000 Less Than Last Year’s All-Time High

Housing Market Update: The Typical U.S. Home Is Selling For Just $4,000 Less Than Last Year’s All-Time High

The median U.S. home-sale price is down just 0.9% year over year, the smallest decline in nearly four months. That’s due to a lack of homes for sale, with a mismatch between supply and demand. New listings are down 27% from a year ago and[...]
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