Housing Market Outlook: Unusual inventory decline props up prices

The housing market is facing an unusual lack of inventory that's keeping prices from falling further, according to real estate trackerNew listings of homes for sale dropped 22.

"High mortgage rates have caused some homebuyers to bow out of the market," Redfin deputy chief economist Taylor Marr said."But there are still more people looking for a home than there are homes for sale." The US median sale price is down 2.8% year-over-year, per Redfin, though it's a split market, with prices falling in some cities while they rise in others.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Housing market forecast: home prices & rental rate outlook, Ivy ZelmanIvy Zelman called the last two big downturns in home prices. She told us that renters are about to get some very good news.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Housing market reality check, home prices decreasing in Phoenix areaAfter years of leading the nation in home price growth, the Phoenix metro is now dipping into the red, according to the latest S&P Corelogic Case-Shiller Indices, released April 25. MORE ⬇️
Source: abc15 - 🏆 263. / 63 Read more »

Asian Stock Market: Moderately positive as market sentiment improves, oil juggles, BoJ policy in focusAsian Stock Market: Moderately positive as market sentiment improves, oil juggles, BoJ policy in focus – by Sagar_Dua24 Asia Nikkei BOJ Oil SP500
Source: FXStreetNews - 🏆 14. / 72 Read more »

Morningstar's chief U.S. market strategist shares his outlook for the economy and ways to play the market turbulence aheadThere are value opportunities for investors who look carefully in this turbulent environment, according to Morningstar's Dave Sekera.
Source: CNBC - 🏆 12. / 72 Read more »