Current State of the Housing Market

This is a market overview for mid-October

Over the last month …

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

2. Mortgage rates have increased further pushing monthly payments up sharply.

3. House prices have started to decline month-over-month (MoM) as measured by the repeat sales indexes.

New Listing Have Declined Significantly

Here is a graph of new listing from Realtor.com’s September Housing Tre…