Analysis and Data
Nearly half of mortgaged homes remain equity-rich, while level of seriously underwater mortgages remains unchanged.
In January, inventories rose and price-growth leveled off as mortgage rates continued to decline.
Economist says U.S. has never had home prices decline when there has not been a recession.
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After rising for 3 weeks in a row, the MBA's Market Composite Index fell 9% on a seasonally adjusted basis.
Case-Shiller Index posts smaller gain; First American RHPI still shows affordability decline.
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Redfin report also shows year-over-year improvement.
Freddie Mac says lower rates are attracting more buyers to the market.
For all of 2022, sales of new homes fell 16.4%.