Current State of the Housing Market

This is a market overview for mid-September

There have been three recent key changes in the housing market:

1. New listings have declined significantly year-over-year.

2. This “Sellers’ Strike” has led to inventory growth stalling.

3. And homeowners have continued to borrow against their home equity, shifting from cash-out refinance to home equity loans (so they can keep their low interest 1st mortgage).

New …