Analysis and Data
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.
NAHB/Wells Fargo Housing Market Index falls 8 points; MBA says new home purchase applications fell 13.2%.
Price growth is slowing faster in cities than in the suburbs.