General World News

The housing market faces a three-pronged challenge

Growing supply shortages are holding housing prices higher, and affordability constraints coupled with elevated rates lock potential sellers in place.

Home prices fell in January, pulling back by 0.24% from December to mark the smallest monthly decline in seven months, according to Black Knight‘s mortgage monitor report. The annual home price growth rate fell to 3.43% in January, more than a full percentage point below the 30-year average. 

Price impacts could strengthen again if 30-year rates continue to climb, as they have through late February, although tight inventory will put a floor on how much prices will ease, details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com