Weekly Housing Market Update - 5/13/2022

This week, Chief Economist Danielle Hale discusses the latest inflation reading, what the Fed had to say about it, and how consumers are reacting.

Danielle notes that this week’s mortgage rates climbed again, as discussed by colleague Joel Berner, but cites reasons to expect some steadiness ahead.

Climbing mortgage rates, fast-moving homes, and record high asking prices in April have impacted home buying confidence, as colleague Sabrina Speianu covers. Housing data from the first week of May, however, highlight a new trend: growth in the number of homes available for sale relative to one year ago.

Finally, Danielle highlights findings from 2 in-depth pieces of research that answer questions about how homebuyers are coping with tough market conditions. In the first, colleague Hannah Jones examines recent down payment trends, and in the second, colleague Joel Berner reviews what home shopping trends indicate about migration.

0:10 - Inflation trends, consumer price index
0:53 - Mortgage rates
1:10 - April housing trends
1:46 - Down payment trends
2:10 - Cross market demand

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Learn More about the home buying process: "Home Buying 101: How Do I Get Started?"
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