The 3-year 50% price explosion has caused epic demand destruction. Prices are way too high. But mortgage rates are back in the historically normal range above 6%. By Wolf Richter for WOLF STREET. The feverishly anticipated spring selling […]
Too-high prices trigger demand destruction, market freezes. By Wolf Richter for WOLF STREET. Sales of existing homes – single-family houses, townhouses, condos, and co-ops – that closed in February fell by 5.2% from the abysmally low levels a year […]
Too-high home prices cause demand destruction on an epic scale. Buyers’ strike continues in November and December. By Wolf Richter for WOLF STREET. Demand for existing homes has wilted in an amazing manner and is wobbling along rock-bottom. […]
“Many potential buyers are postponing their purchasing plans in hopes of securing lower rates. Consequently, lower buyer competitions exerted downward pressure on prices”: Realtor.com By Wolf Richter for WOLF STREET. The seasonally adjusted annual rate of sales of […]
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