Sold prices are up from the same time last year but the month to month increase is flat. There is definitely a drop in the number of properties sold.
Mortgage Rates Increase
The combination of higher mortgage rates and the slowdown in economic growth is weighing on the housing market. Home sales continue to decline, prices are moderating, and consumer confidence is low. But, amid waning demand, there are still potential homebuyers on the sidelines waiting to jump back into the market.
