Summer is here, and housing inventory is finally growing! The spring housing inventory was like a zombie rising from the grave, very slow, but the summer is showing some promise and let’s hope it continues. Purchase apps had a small week-to-week gain. Mortgage rates were again in a small range, hanging near 7%.
Here’s a quick rundown of the last week:
- Active inventory grew 8,886 weekly. I am still hoping for some weeks that show inventory growth between 11,000-16,000
- Mortgage rates stayed in a tight range between 6.875%-6.95%
- Purchase application data showed a 2% growth week to week
Weekly housing inventory
The active details ⇒
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