Home Shortage Plus High Rates Equals Housing Crisis


The largest issues confronting the housing market look like hovering residence costs and mortgage charges plus a scarcity of provide.

The median value for existing-home gross sales totaled $407,600 in May, up 14.8% from May 2021, in response to the National Association of Realtors. Year over yr, costs have climbed for 123 straight months (greater than 10 years).

On the interest-rate entrance, the common 30-year fixed-rate mortgage rose to five.51% within the week ended July 14 from 5.3% per week earlier and a couple of.88% a yr earlier, in response to Freddie Mac.

Source: www.thestreet.com