Tagged: National Association of Realtors (NAR)

Existing-home sales decline across most U.S. regions; rising mortgage rates and limited inventory dampen buyer optimism.

30-year mortgage rate could hit 8% amid federal reserve rate hikes; home inventory dips to historic lows.

Mortgage payments on a typical home rise by 11.6% year-over-year.

Despite monthly gains, all regions report year-over-year transaction declines; housing market recovery stagnates amid lack of supply.

‘First-half of the year was a downer,’ as sales fell 23%.

NAR says housing market remains resilient, with approximately 3 offers for each listing.

Sales were down more than 20% from the same month last year.

3 separate reports show low inventory affecting homebuyers’ perceptions.

Lack of inventory, high mortgage rates holding down sales of existing homes, NAR says.

Second-straight monthly decline came despite a 7.2% increase in inventory.