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US pending home sales slump in June amid affordability challenges
June witnessed a significant decline in contracts for previously owned homes, which fell beyond expectations due to soaring mortgage rates and increasing house prices that sidelined many buyers. The pending home sales index showed a stark 5.4% decrease, impacting all four regions of the country. This trend reflects a sluggish housing market, creating hurdles for first-time buyers eager to enter the market.
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economictimes.indiatimes.com
US pending home sales slump in June amid affordability challenges
June witnessed a significant decline in contracts for previously owned homes, which fell beyond expectations due to soaring mortgage rates and increasing house prices that…
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cnbc.com
Here's why the housing market is hurting so much this summer
Mortgage rates are high, home prices at record levels and consumers stressed. These are all contributing to a drop in existing home sales and builder sentiment.