Signs of Cooling Home Market Are Accelerating

The lack of market competition and sellers dropping their prices are picking up pace.

By Paul Bergeron | June 21, 2022 at 07:48 AM

Downward trends are accelerating in home-buyer markets as Redfin announced last week that competition for homes fell to a 15-month low and the highest share of sellers on record dropped their list prices during the four weeks ending June 12.

This highlighted a week that saw the home mortgage interest rates bolt higher to levels not seen since 2008.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account? Sign In Now

NOT FOR REPRINT

Dig Deeper

Recommended Stories

Interest Rates May Not Be High Enough: Vanguard

Erik Sherman | April 23, 2024

The so-called neutral rate of interest may have grown enough to need much higher interest rates then policymakers’ assumptions.

Sugar Land Home to Successful Corporate Headquarters Relocations

Richard Berger | April 25, 2024

Texas town thrives by offering state and local corporate tax incentives, office retention incentives and tax abatements.

Navigating 2024's Shifts and Strategies in Retail

Natalie Dolce | April 25, 2024

As the retail landscape continues to transform, retailers are innovating to meet evolving consumer expectations. GlobeSt.com catches up with a few key players in this article in advance of the upcoming ICSC Las Vegas retail event.

Resource Center

Discover how to transform your real estate assets from mere spaces into vibrant experiences that captivate tenants -- and their employees -- to support engagement and retention.

Guide

GlobeSt. Multifamily Fall 2024Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now