Reports released by the FHFA and S&P Dow Jones showed that buyers will likely gain leverage in some markets, while sellers may need to readjust their price expectations as market shifts
Home price growth slowed to the lowest level in 2 years in May. However, market pressures, primarily from elevated mortgage rates, mean buyers are still struggling to afford homes
New numbers from the National Association of Realtors show that pending sales rose 1.1% year over year in May
Figures in April 2024 for both indices suggested a steady market going into summer. Both the S&P CoreLogic Case-Shiller index and the FHFA HPI rose 6.3% on an annual basis
Index is 1.1 percent below March 2007
Number of flipped homes is up, but inventory is low