CoreLogic: Home Prices In May Up 20% From Last Year
Marks the 16th consecutive month of double-digit price increases.
Marks the 16th consecutive month of double-digit price increases.
Redfin says a record-high share of home sellers dropped their prices after this month’s historic mortgage-rate hike.
Can Washington help fix the problem?
The national share of price drops reaches a record high.
Rising mortgage rates cause home sales to fall in May for only the second time on record, while home prices saw the smallest May increase on record.
Closings in May 2022 were 8.5% lower than May 2021.
For homebuyers who are still actively searching for a home, lower competition and more seller activity will provide some relief.