The 30-year fixed-rate mortgage (FRM) averaged 5.78 percent.
Two of America’s most prominent real estate brokerages instituted large-scale layoffs and halted expansion efforts.
Prices have surged 40.4% since January 2020.
Mortgage application Purchase index down 21% from last year.
Buying a home has become incredibly difficult because most of the country has become a seller's market.
It's the sharpest year-over-year decline in affordability on record.
Residential construction spending was 18.4% higher than a year ago.
On a year-over-year basis, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index posted a 20.6% annual gain.
Pending sales slid for the sixth consecutive month, down 3.9%
New home sales are down 26.9% compared to April 2021.
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