US Housing Market Faces Decline Amid Rising Mortgage Rates and Uncertainty
TL;DR Summary
US pending home sales declined by the most since September 2022, mainly due to high mortgage rates and prices, indicating a sluggish spring selling season and potential for continued market weakness until rates decrease closer to 6%.
Topics:business#home-prices#housing-inventory#mortgage-rates#pending-home-sales#real-estate#us-housing-market
- US Pending Home Sales Drop by Most Since 2022 on Mortgage Rates Bloomberg
- Housing contract activity dropped sharply in April as volatility and high rates reigned Yahoo Finance
- Map Shows Cities With Biggest Rise in Home Sale Cancellations Newsweek
- 'We're in a holding pattern': Home sales and building slump in the face of uncertainty NPR
- The Housing Inventory Is Here—Where Are the Buyers? National Association of REALTORS®
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