The housing market is seeing a serious toll after the Federal Reserve’s rapid interest hike. This explains why home prices and sales have seen a fall all throughout this year in 2022. A major reason for this is also because buyers have been recoiling from the mortgage rates which mostly increase, and real estate is for sure one of the first and most important sectors that is being affected by… Read More »Housing Market In A Serious Toll After Fed’s Interest Hike
There has been a significant rise in US new home sales last month in May. To talk of the numbers, it would be seen that there has been a huge rise in home sales with a percentage of 10.7%.
The applications for a mortgage to buy a house had fallen significantly. This volume was almost 14% lower than the same week a year back. However, there has been an increase in prices, in spite of little supply in the market. But it must be noted here that different tiers of buyers have been seeing different pictures.