Reported 1 day ago
This week saw a significant rise in home sellers, with 45,000 new listings representing a 12% increase from last year. Despite the increase in inventory, home sales decreased, with nearly 41,000 new pending contracts, down 3% from the same week last year. Mortgage rates have surged close to 7.25%, impacting sales negatively. As the market responds to potential changes in economic policies and continuing issues like the recent fires in Los Angeles, home prices show minimal momentum for growth.
Source: YAHOO