The housing market is showing signs of stability with mortgage rates dropping to 6.84% for the second consecutive week. Although rates remain high, consumers are encouraged to seek favorable options. Inflation data reveal modest price gains, keeping the Fed's target in sight. Homebuyer confidence rose in May, signaling recovery. Inventory trends differ regionally: the South and West see growth, while the Northeast lags. Investor activity is at a record high, with a narrowing gap between buyers and sellers, indicating a shift in market dynamics.
The housing market received a bit of good news as mortgage rates dipped slightly to 6.84%.
Despite expectations for more inflation... both consumer and producer price indexes showed milder price gains in May.
Consumer attitudes about homebuying and selling improved in May to the best level of the year so far.
Our Hottest Housing Markets report reflects similar forces with the six hottest housing markets located in New England.
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