Analysis and Data
Freddie Mac survey finds 30-year fixed-rate mortgages now average 6.7%, more than double the rate at this point last year.
A panel of 107 housing market experts and economists predicted rent growth and inflation to outpace home appreciation.
Lack of inventory, declining housing affordability cited most often.
Index fell 2% in August from July, and is down 24.2% year over year.
Redfin says a house hunter looking for a $500,000 home saw their potential total mortgage payment decrease $64,000 from July to August, but jump up $118,000 from August to September.
After rising nearly 4% the previous week, applications fell nearly 4% last week as interest rates rose.
Sales increase nearly 29% from July, but the estimate may be inflated by lag in contract cancellations.
First American report states that, a year ago, only four markets were considered overvalued.
Justin Bird joins the firm from Black Knight.
Both the FHFA House Price Index and the S&P CoreLogic Case-Shiller Index reported declining housing prices nationwide.