With Mortgage Rates Rising, Home Sales Decrease by 3 Percent in May, Redfin Reports – Appraisal Buzz

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Home » News » With Mortgage Rates Rising, Home Sales Decrease by 3 Percent in May, Redfin Reports
Home prices rose 1.5% month over month in May, their smallest increase of any May in Redfin’s records, which go back to 2012, according to a new report from Redfin. The housing market cooled considerably as mortgage rates climbed to their highest levels since 2009.
Seasonally adjusted home sales fell 3% month over month, their only May decline on record outside of 2020, when the start of the pandemic sent shockwaves through the housing
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