What tanked homebuying demand to a five-month low this week
At that rate, the median monthly mortgage payment held at $2,631, continuing to compress affordability for purchase-ready buyers.
Supply creeps higher but demand stays flat
New listings edged up 1% week over week to a seasonally adjusted 354,313, though active listings fell 1.5% to 1,468,943.
Months of supply held at 3.6, still well below the four-to-five-month range associated with a balanced market. The median sale price rose 2.9% year over year to $406,362, and the average sale-to-list price ratio was 99%, up from 98.8% a year earlier.
Metro-level divergence remained stark. West Palm Beach, Fla., led pending gains at 13% year over year, while Seattle fell 19.8% and Houston dropped 17.1%.
On pricing, Newark, N.J., gained 9.8% while San Jose, Calif., fell 4.2%.
