U.S. home buyers are entering late summer with more properties to choose from and signs of weakening demand, creating a residential market in which negotiations may become increasingly important.
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American home shoppers are increasingly looking beyond the metropolitan areas where they currently live, according to housing-market data highlighted Friday, showing how affordability and employment opportunities are reshaping residential search patterns.
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Housing affordability remained a major challenge for American households as the cost of financing a home continued to consume a substantial share of household income.
The U.S. housing market faced another affordability setback as mortgage costs remained elevated, highlighting the continuing financial challenge for households attempting to purchase homes.
Pending home sales declined across the United States in July, reaching their lowest level of the year as higher mortgage rates and elevated home prices continued to weigh on residential demand.
The Madison County, Alabama, housing market entered a slower summer period as single-family homes remained relatively expensive and properties spent more time on the market.
Peabody, Massachusetts, has emerged as the hottest ZIP code in the United States in the latest Realtor.com housing analysis, highlighting the intense competition still present in selected residential markets.
