Tag Archives: Spring homebuying season

The U.S. Census Bureau and HUD have found that new, single-family home sales were at a seasonally-adjusted annual rate of 763,000 in May 2023, 12.2% above April 2023’s rate of 680,000 marking the highest level reported since February 2022.

According to a new report from Redfin, near-7% mortgage rates continue to prevent both would-be homebuyers and potential home sellers from entering the market, despite the construction of new single-family homes nearing their highest level in almost 20 years.