10 Sep September 2022 Real Estate and Mortgage Report

Our monthly real estate market report includes information about housing prices, inventory, mortgage rates, home sales and market predictions. We summarize news headlines and share important market updates.

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Here are some quotes from this month’s report:

• After the end-of-summer lull, and as mortgage rates stabilize, we may see a return of buyers and a relatively strong fall housing market.
• I don’t think national housing prices will decline in a meaningful way . . . but there will be some price declines across the country.
• Annual home price growth slowed for the third consecutive month in July but remained elevated at 15.8%. As 30-year, fixed-rate mortgages neared 6% this summer, some prospective homebuyers pulled back, helping ease overheated and unsustainable price growth. . . . Looking ahead, CoreLogic expects to see a more balanced housing market, with year-over-year appreciation slowing to 3.8% by July 2023.
• Compared to one year ago, the monthly mortgage payment rose to $1,944 from $1,265, an increase of 53.7%.

This report is intended to be accurate, but the information is not guaranteed. Please reach out to us directly if you have any specific real estate or mortgage questions or would like help from a local professional. This post was provided by Sparkling Marketing, Inc. with a Market Report from Keeping Current Matters.