Home prices

It was the third straight decline for the seasonally adjusted measure of prices in 20 large U.S. cities, according to the S&P CoreLogic Case-Shiller index. 

"This is Han Solo in carbonite: This is a market that could stay frozen for quite some time," said Benjamin Keys, a real estate professor at the University of Pennsylvania's Wharton School.

The decline in loan activity and softening prices also helped drive down builder sentiment for the 11th month in a row.

The coming months are likely to see greater focus on single-family rentals, reduced credit availability and potential new competitors entering the market.

The limit for high-cost areas for 2023, 50 percent above the baseline limit, would be approximately $1.08 million, writes a former principal economist with the Federal Housing Finance Agency.

However, of those that would choose face-to-face interaction, 40% want it to include a hybrid or fully digital process.

A measure of prices in 20 large U.S. cities in August fell 1.3% on a month-over-month basis, the most since March 2009, according to the S&P CoreLogic Case-Shiller index.

Close to 60,000 home-purchase agreements were canceled in September

Quarterly numbers also show the smallest gain in appreciation since 2011, with values decreasing on an unadjusted basis, according to Fannie Mae.

The high interest rate environment is causing repeat buyers to pull back from the market, creating ample space for entry borrowers to purchase a home.