The housing market is adapting to persistent inflation and evolving buyer behavior, influenced by recent economic data. The Federal Reserve's policy signals indicate that a rate cut in July is improbable. Mortgage rates have recently nudged upward, remaining within a familiar range of 6.7% to 6.9%. Homebuilder confidence has seen a modest rise but stays below the contraction threshold. June homebuilding data revealed an increase in permits mainly for multifamily units, while single-family permits are at their lowest in over 11 months. The Realtor.com Weekly Housing Trends report indicates steady home prices but slower active listing growth.
Mortgage rates remain in familiar territory, fluctuating between 6.7% and 6.9% since mid-April. This week's movement, though notable, falls within that recent range.
Homebuilder confidence rose modestly in July, but remains subdued—well below the threshold of 50, which separates market expansion from contraction.
June homebuilding data showed a slight increase in permits and starts, driven largely by multifamily construction. However, single-family activity remains soft, with permits and starts hitting their lowest levels in more than 11 months.
The Realtor.com Weekly Housing Trends report paints a mixed picture. Home prices are holding steady, but the pace of active listing growth is slowing, as new listings rose just 1.3%—the smallest increase in at least 12 weeks.
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