U.S. Housing Inventory Drops to Lowest Levels Since 1999, Says NAR

According to the National Association of Realtors newly released 2023 Member Profile, amid a significant shortage of housing supply in 2022, 32% of Realtors named a lack of inventory as the most important factor limiting potential clients from making a purchase.

U.S. Housing Market Has 40 Percent Less Active Listings in 2023 Than Before the Pandemic

According to a new report from national property broker Redfin, the total number of U.S. homes for sale dropped 6% from a year earlier during the four weeks ending June 11, 2023, the biggest decline in 13 months. 

Many Would Be U.S. Home Sellers Staying Put From High Mortgage Rates

According to Redfin, more than nine of every 10 (91.8%) U.S. homeowners with mortgages have an interest rate below 6%. That is down just slightly from the record high of 92.9% hit in mid-2022.

Mortgage Rates Continue to Rise in the U.S.

Based on Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 6.79 percent as of June 1, 2023.

Albuquerque Property News

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