Consumer confidence in the housing market dropped to the lowest level since the early months of the Covid-19 pandemic, according to a report on Monday.
A surge in home prices coupled with a jump in mortgage rates sent affordability for American homebuyers to the lowest level since 2008, according to a report from NAR.
Signed contracts to purchase homes fell 1.2% in March to the lowest level in almost two years, according to the National Association of Realtors.
Surging mortgage rates and record-high prices for new houses are straining affordability, according to the National Association of Home Builders.
A shortage of listings is keeping U.S. home-price gains at near-record levels even as mortgage rates surge, according to a report on Tuesday.
The U.S. housing market is showing signs of a return to pre-pandemic days, a First American economist said in a report.
Sales of previously owned homes declined as a shortage of listing inventory and the highest mortgage rates in more than a decade made it tougher to purchase a property.
Groundbreakings in March reached the highest level since June 2006 led by a surge in the construction of multifamily units, according to a government report.
Homebuilder sentiment dropped to the lowest level since September as higher mortgage rates eroded affordability for buyers, according to a report.
Almost three-quarters of American consumers in March said they believed now is a “bad time to buy” real estate, a record high, according to a report from Fannie Mae.
