Tag Archives: Wells Fargo Housing Market Index (HMI)

The price of new home sales experienced a near 17% decline in April, hitting its lowest level in two years.

A rise in mortgage rates over the 5% mark, and an increase in prices has impacted April buyer activity, as buyers wait for the market to show signs of stability.

Despite lingering supply chain concerns, there were 811,000 single-family units under construction in March, marking the highest level since 2006.