While overall sales declined 22% from a year ago, existing-home sales dipped lower in March after month-over-month sales declined in three out of four major U.S. regions, according to a new report from the National Association of Realtors.

As elevated mortgage rates curtailed homebuyer demand, a lack of homes for sale also limited home purchases, according to a new report from Redfin.

“While the NFCI Credit index indicated that credit tightened in March, which reduced housing market potential, the credit tightening was modest and far from recent pandemic lows, and certainly nothing like the Great Financial Crisis period,” said Mark Fleming, Chief Economist at First American.

"As expected, the annual rate of increase in home prices has slowed dramatically in response to the rapid and significant increase in interest rates," said Doug Duncan, SVP and Chief Economist at Fannie Mae.

According to a new report from the National Association of Realtors, middle-income homeowners gained more than $120,000 in wealth over the past decade, as homeowners who benefited from home price appreciation were able to drop their debt by 21%.

According to the National Association of Home Builders, builder confidence increased due to a lack of resale inventory despite inflated interest rates, as new construction continues across the market.

Both home sellers and homebuyers continue to struggle to navigate the market, with a new seller survey from Realtor.com revealing that home prices are up 7.8% from last year.

Although women make up a higher share of college graduates, single female household heads still have substantially lower incomes and are more likely to raise children than single male household heads.

In recognition of Fair Housing Month, KeyBank is further committing to helping potential homebuyers make their dream of owning a home a reality by expanding its Special Purpose Credit Programs for qualifying properties in eligible communities.

At its inaugural Financial Inclusion Forum, TransUnion had a group of executives discuss ways to meet and engage consumers where they are on their financial journey, and to help create and deliver equitable products and services for them.