Second quarter housing results for 2022
July 18, 2022
Nationally, home sales were down for the third month in a row, falling 5.6% month-over-month, and actual monthly activity came in 23.9% below the June record set in 2021. Sales activity continues its downward momentum in the face of rising interest rates and uncertainty in the real estate market. Due to the rising interest rates, the cost of borrowing has overtaken supply as the dominant factor affecting housing markets at the moment, but the supply issue has not gone away….Check in with Frances Snider Royal LePage Royal City Realty for all the details.
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