The latest existing-home sales data released by the National Association of Realtors (NAR) for the month of June highlights ongoing challenges within the housing market. The data reveals the continued impact of rising mortgage rates, which have been a significant factor in the market since 2022.
Key points from the NAR’s June existing-home sales data include:
– Existing-home sales facing challenges due to rising mortgage rates
– Housing market struggling to recover from impacts of higher borrowing costs
– Ongoing difficulties for prospective homebuyers in securing affordable financing
– Market conditions reflecting broader economic trends influenced by interest rates
Overall, the June existing-home sales data underscores the enduring effects of rising mortgage rates on the housing market, as prospective buyers grapple with affordability issues and a challenging borrowing environment.
You can read this full article at: https://www.housingwire.com/articles/inventory-of-existing-homes-hits-highest-level-since-early-in-the-pandemic/(subscription required)
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