Reported 5 months ago
Mortgage rates have dropped below 7% for the first time in over a month, offering some relief to potential homebuyers during the spring season. However, the housing market is still struggling with a limited supply of homes available for sale. Existing home inventory improved slightly in April, but remains significantly low, leading to a competitive market landscape for buyers. Despite the lower mortgage rates, the median home sales price has increased to $407,600, making it challenging for buyers to find affordable options.
Source: YAHOO