Existing-home sales moved lower in August 2023. Among the four major U.S. regions, sales improved in the Midwest, were unchanged in the Northeast, and slipped in the South and West. All four regions recorded year-over-year sales declines.
According to the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending September 15, 2023, U.S. mortgage applications increased 5.4 percent from one week earlier. Last week's results included an adjustment for the Labor Day holiday.
According to national property broker Redfin, residential real estate deals are falling through at the highest rate in almost a year as high mortgage rates give homebuyers sticker shock.
Based on a new report by national property broker Redfin, investor home purchases fell 45% from a year earlier in the second quarter of 2023, outpacing the 31% drop in overall home sales.