"The sour outlook from consumers, and the consistent 'wait-and see' policy from the Federal Reserve, helped push interest rates lower, including mortgage rates dipping to 6.77% for a 30-year fixed home loan."
"Consumer confidence slipped in June, and while consumer sentiment improved, both measures remain at a concerningly sluggish level."
"Existing-home sales rose in May as the number of homes for sale grew, bringing the months supply to a nearly nine-year high."
"New-listing growth rose at a slower pace than we've seen recently, which could slow the buyer-friendly momentum we've seen in inventory recovery."
Consumer sentiment remains shaky, despite slight improvements, having led to lower mortgage rates, which currently sit at 6.77%. The Case-Shiller home price index reveals regional differences, with gains observed mainly in the Northeast and Midwest. Existing-home sales have increased due to a higher inventory supply, leading to a potential rise in sales ahead, while new-home sales have decreased amid increased competition. Despite some positive trends, the housing market is not yet in a buyers' market, creating a complex landscape for prospective homeowners.
Read at SFGATE
Unable to calculate read time
Collection
[
|
...
]