For the third straight month, sales of previously occupied U.S. homes fell in May as increasing mortgage rates and record-high prices discourage many potential homebuyers during what’s typically the housing market’s busiest period of the year.
Read More Home Sales Drop For Third Straight Month, Prices Hit Record High
The benchmark S&P 500 touched a record high on Thursday, boosted by strong gains in Nvidia.
Read More S&P 500 notches record high as Nvidia rally continues
U.S. home sales in May fell to among the lowest levels in the past decade as both demand and supply remained sluggish in a high-mortgage rate environment.
Read More US home sales crumble in May on higher rates and record prices, says Redfin
A key measure of home-buyer applications fell to a three-month low as mortgage rates started to rise again.
Read More Mortgage Demand Drops To 3-Month Low As Interest Rates Increase For First Time In A Month
A recent analysis by ResiClub of the Case-Shiller National Home Price Index has unveiled a staggering increase in U.S. home prices, soaring a hefty 47.1% since 2020.
Read More Report: U.S. Home Prices Increased 47% On Average Since 2020
Declining mortgage rates and incentives from builders are likely to draw potential buyers back into the housing market.
Read More US single-family housing starts jump to more than 1-1/2-year high