The 30-year mortgage rate hits a new 23-year high, pushing closer to 8%

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home for sale

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Homebuyer demand has crashed to its lowest level in almost a year as mortgage applications hover near a 3-decade low

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Rows of suburban homes in Ocala, Florida
Ocala, Florida

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Home prices could jump 5% in the next 12 months as high mortgage rates freeze the housing market, Zillow economists say

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Home prices
Home prices will jump by 4.9% by August of next year, Zillow economists warned.

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The housing market is stuck: Americans can't afford homes, investors aren't buying property, and economists see little relief ahead

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The housing market is stuck thanks to high prices, high mortgage rates, and low inventory.
The housing market is stuck thanks to high prices, high mortgage rates, and low inventory.

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US home prices are nearly back to all-time highs reached last summer

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A row of suburban homes in Northern California
Some of the most active homebuyers during the COVID-19 pandemic are now pumping the brakes on purchases.

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Homes are so expensive in the US that 38% of young buyers say they were only able to break into the market with help from their family

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home buyers

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These 2 stats show how tight the US housing market has become in the last year

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A home with a for sale sign.
Investor purchases of American homes dropped 45.8% year over year last quarter, according to Redfin.

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A mild recession could actually be good for the housing market

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Home for sale

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