Current State of the Housing Market; Overview for mid-December

A Sharp Decline in Sales, House Prices and Rents Falling

Over the last month …

1. New listings have declined further year-over-year (YoY).

2. Mortgage rates have declined recently but are still up sharply YoY.

3. House prices are declining month-over-month (MoM) as measured by the Case-Shiller repeat sales index.

4. Rents are falling.

New Listings Have Declined Significantly

Here is a graph of new listing from Realtor.com’s No…