Analysis and Data
If sales keep dropping and inventory keeps growing, we may reach a buyer's market by December.
The 'New Weird': Mortgage rates surge and bidding wars drop as more people choose not to buy a home.
The typical resale price on flipped homes reached another all-time high of $328,000.
Report released Thursday shows the housing market continues to face headwinds.
MBA, however, says the recent stretch of modest affordability improvement likely hit a speedbump this month, as mortgage rates rose above 6%.
Chairman said housing market may have to go through "a correction" to return to balance.
Median existing-home price also rose, the 126th consecutive month of year-over-year increases.
U.S. private mortgage insurance (PMI) hit record profitability in the second quarter of 2022.
Fannie Mae's ESR Group predicts housing will cool further as mortgage rates spike.
MBA economist says the nearly 4% increase 'underscores the overall volatility' of the current housing market.