Inventory of unsold homes rose by 1.8% this week, signaling that homebuyers have hit the brakes waiting to see if mortgage rates recede from recent multi-decade highs.
Leading indicators for sales prices suggest that 2023 will end with home price gains of 1-2% over 2022, but the 2024 outlook is weakening.
You can read this full article at: https://www.housingwire.com/articles/homebuyers-hit-the-brakes-causing-unseasonal-growth-in-inventory/(subscription required)
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