Housing Prices Are Now Becoming Too High Even For The Wealthy
Posted on AllSides June 13th, 2022
From The Right
The slowdown in home purchases is impacting the luxury market as well.
Since the beginning of 2022, 30-year fixed mortgage rates have surged from slightly over 3% to well over 5% — causing a drop in demand for new purchase loans and refinancing services. Sales of new single-family homes in April fell to 591,000 — falling far short of the 750,000 expected by analysts, as well as 16.6% below home sales in March.
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