Home sellers across the country — including those in formerly scorching hot pandemic-fueled markets — have had to adjust expectations and drop prices as home buyers lose purchase power to rising mortgage rates. More than 40% of home sellers in Salt Lake City; Boise, Idaho; Sacramento, California, and other areas where home price appreciation ballooned...
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The number of active U.S. listings rose 8% year over year in May, likely driven by new sellers and a slowdown in would-be buyers deterred by high prices, Realtor.com said in a report Thursday. Listings were down 12% year over year in April. The largest increases in new listings were in the West and the...
Sky-high prices, loan-fee increases and financial-market weakness are putting a dent in demand for vacation homes, which soared during the pandemic. There’s still more demand for second homes than there was before the pandemic. Demand for vacation homes is way down after last year’s pandemic-driven boom. Mortgage-rate locks for second homes were up 9.1% from...