By the Numbers

91% of Gen Zers in a recent survey said the cost of housing will play into who they vote for in November’s presidential election.

The share of homes with price drops reached an 18-month high as sellers try to jumpstart buyer interest in stale listings, Redfin reported.

After dipping below 7% last week, interest rates ticked back up, while pending sales hit a four-year low.

The latest Case-Shiller index reported another record high, with U.S. home prices increasing 6.5% year-over-year in March.

Buyers may be able to take advantage of lower rates and increasing inventory, but many are still priced out, dampening sales.

Despite the sluggish pace, inventory is up, which is “nudging the market in a more buyer-friendly direction.”

With many owners of existing homes hesitant to give up their low mortgage rates, new homes continue to account for an outsize share of the market.

An NAR/Realtor.com study on the effects of rate reductions and price cuts found that a 1% mortgage rate decline could put a noticeable dent in monthly payments.

Squint and you can see a bright side as housing starts bounce back and mortgage rates drop a bit (but stubbornly stay above 7%).

Sentiment drops for the first time since November, with persistent inflation and concerns about new federal rules dampening builders’ outlook.

Rates have gone up considerably in the past few years, but is the fear of losing a low-rate mortgage really keeping homeowners from selling?

The latest data points to some easing, but payments could hit a new peak later in the year. Regionally, payments are down in areas with rising inventory.

After five weeks of increases, rates pulled back slightly, but rising home prices and record-high mortgage payments continue to hamper affordability.

In a recent survey by the New York Fed, consumers said they expect rates to hit 8.7% in a year and 9.7% in three years.

Rates are likely to stay higher for longer, but as inventory builds, pent-up demand and more home choices could entice buyers — if they can afford it.

Even as interest rates and prices keep rising, new and pending home sales have ticked up.

Active listings are back to pre-pandemic levels, but home prices — and home insurance costs — keep going up, creating a tough market for buyers and sellers.

No rate relief is expected soon, and home prices are also setting records this spring, suppressing existing home sales.

Get answers to the big questions on everyone's mind: What will happen with inventory and mortgage rates — and will the NAR settlement impact the market?

As the U.S. economy continues to show strength, mortgage rates could stay in the 7% range this homebuying season.