In July 2022, existing-home sales fell month-over-month for the sixth consecutive time, reaching a 4.81 million seasonally adjusted annual rate, and fell 20.2% from July 2021.
Construction starts of both single-family and multifamily housing units fell in July 2022.
The monthly mortgage payment increased by 5.3% in June 2022, compared to the prior month, while the median family income increased by 1.4%.
National median prices rose 14.2% year over year to $413,500, rising above $400,000 for the first time.
Some recent potential home buyers who were pushed out of the market may now be able to get back in and qualify for a mortgage.
Matt Christopherson, Senior Research Analyst, talks about the report's essential findings and main takeaways.
What kind of expectations buyers and sellers should have regarding home prices in some of the most populated metro areas? How often they can expect a positive investment in a single-family home?
The 20 million jobs lost during the early months of the COVID-19 lockdown have been fully recovered, with more Americans working today than at any time in history.
The third quarter of 2022 saw multifamily vacancy rates increase across the board for most metro areas compared to last year.
Brandi Snowden, NAR Director of Member and Consumer Survey Research, talks about this year's Member Profile report findings and the most important takeaways.
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