Real Estate

What’s happening with home prices? Mortgage rates, tight supply are factors

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Daniel Acker | Bloomberg | Getty Images

Home prices are softening in most markets across the nation.

Yet home prices are still higher compared with a year ago, and it’s unlikely they will fall too steeply.

The sharp rise in mortgage rates over the past several months has made housing more expensive for anyone needing a loan. While that has some buyers pulling back, and some sellers lowering what they’re asking for, strong demand and tight supplies are supporting prices.

Recent reports are using monthly comparisons because of the sharp turnaround in the once-hot, pandemic-driven housing boom. So the changes can appear dramatic.

Black Knight, a real estate software, data and analytics firm,…



Source cnbc.com

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