New Jersey, Illinois, Delaware, and inland California continued to have the highest concentrations of the most-at-risk markets in the country, with the biggest clusters in the New York City, Chicago and Philadelphia areas. Southern and Midwestern states remained less exposed.
According to the National Association of Realtors, U.S. pending home sales slid for the fifth consecutive month in October 2022. Three of four U.S. regions recorded month-over-month decreases, and all four regions recorded year-over-year declines in transactions.
The latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported this week a 10.6% annual gain in September 2022, down from 12.9% in the previous month.
According to national property broker Redfin, U.S. home-price growth has slowed fastest in pandemic boomtowns and tech cities including San Francisco, San Jose, Austin, Phoenix and Boise -- as high mortgage rates and an uncertain economy deter would-be buyers.
Based on brand new Retail Research by CBRE, Black Friday in the U.S. was off to a better-than-expected start for the 2022 Christmas holiday shopping season.
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