The U.S. housing market is slowing unevenly, with home-price growth positive nationally but many metros showing declines. Sales and pending contracts have weakened due to rising mortgage rates, and more buyers are canceling contracts before closing. Homeowners hold substantial equity, limiting distressed sales. Refinancing is unattractive, boosting adjustable-rate mortgage use. Price growth is strongest in supply-constrained Northeast and Midwest markets, while Texas and Seattle see sales declines.
Continue to full article
Leave a Reply