While economic uncertainties remain a struggle for many Americans, rate hikes continued to slow overall housing market activity in August as mortgage rates reached their highest in over two decades, according to HouseCanary's Market Pulse report.
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Elevated Mortgage Rates Continue to Handcuff the Housing Market
"Although a lot of homebuyers have acclimated to rates in the 6% range and many are finding ways to lower their monthly payments, like using a 2-1 buydown, high rates are handcuffing potential sellers,” said Redfin Deputy Chief Economist Taylor Marr.
Read More »Buyers Retreat, Sellers in Pandemic Boomtowns Drop Asking Prices
A high share of home sellers dropped their asking price in July, particularly in pandemic boomtowns, as they struggled to match their expectations with the reality of the ...
Read More »New-Pending Home Sales, Listings Increase
A new report sheds positive light on housing, as home prices increased annually in 29 of the 35 largest metros studied.
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