Reported about 1 year ago
The Federal Housing Finance Agency (FHFA) reported that U.S. single-family home prices rose by 0.2% in April, following a 6.3% increase over the previous 12 months. However, there are concerns that higher borrowing costs may slow down this momentum and affect housing demand. The housing market is showing signs of normalization, with mortgage rates and inventory levels influencing the market. Existing home sales have declined for the third consecutive month due to rising mortgage rates and increased prices, impacting affordability.
Source: YAHOO