Zillow's May Market Report: Housing Recovery Slows Amid Rising Mortgage Rates
According to Zillow’s May market report, home sales and new listings declined compared to last year as mortgage rates surpassed 6.5%. New listings dropped by 4.1% annually while inventory growth slowed despite a monthly increase of 1%. Home values rose slightly but typical mortgage costs are still lower than the previous year.
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Topics: home_sales inventory_growth mortgage_rates