After posting four consecutive monthly declines on rising mortgage rates and worsening affordability conditions, new home sales posted a solid gain in May as some buyers rushed into the market in advance of the Federal Reserve's June interest rate hike.
This week AAA predicts 47.9 million people will travel 50 miles or more from home over the July 4th holiday weekend (June 30 - July 4). This is an increase of 3.7% over 2021, bringing travel volumes just shy of those seen in 2019.
According to Eliza Theiss of CommercialEdge, remote and hybrid work models were considered niche setups just a little over two years ago, but today, these trends seem here to stay.
Based on a new report from Redfin, nationwide, 57.8% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in May, the lowest level since February 2021.