The news was discouraging for would-be homebuyers right in the heart of the prime spring season as jumped to 6.57%, a significant increase from 6.39% just the week before.
Meantime, listing prices ticked up 0.7% and many predict they will begin actually declining before the close of 2023.
Finally, listings wee down 26% from the same time in 2022, largely because existing homeowners are not interested in taking on mortage rates that are at least 2 percentage points higher than what they are currently paying.
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