Analysis and Data
This latest surge keeps pricing out would-be buyers.
Freddie Mac says the 30-year fixed-rate mortgage is still under 7%; others say it's crossed that threshold.
National Association of Realtors says inventory also fell.
'If the Federal Reserve’s objective was to slow down the housing market, it succeeded spectacularly,' an ATTOM EVP said.
Zillow forecasts home value growth will be nearly flat over the next 12 months, especially as inventory struggles to catch up.
Home Sales & Housing Starts Fall In September
Stress in U.S. housing market is caused by supply, not demand.
Softening Economy Points To Significant Price Declines
Drop in mortgage originations in 2022 continues to surpass Fitch Rating’s expectations
Applications have now decreased in 9 of the past 10 weeks.