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MarketMinute | How are home prices looking?

Oct 7
1:22
AM
Category | Markets in a Minute

  • Manufacturing activity grew at its slowest pace in nearly 2-1/2 years in September. New orders contracted amid aggressive Fed rate increases.
  • The services industry sector slowed modestly in September, suggesting underlying strength in the economy despite rising interest rates.
  • Fed officials this week continued to spread the message that Fed rate policy needs to remain aggressive until inflation is under control.

  • Purchase mortgage applications fell 13% for the week and were a steep 37% lower year over year.
  • September new for-sale listings fell 18.9% year over year. During the year ending September 30, 37.6% of listings were priced from $200K to $400K.
  • Home prices remain higher than a year ago, and it is unlikely they will fall too steeply, according to recent data from Black Knight.

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