Home prices

The slowdown also has not been enough to ease affordability in any state given changes in interest rates and incomes, according to research from First American.

In actuality, the law establishes the procedure for setting the maximum limits; in principle, the director could set the limits below these maximum levels, argues a former principal economist for the Federal Housing Finance Agency.

The city remains one of the most unaffordable and as tech companies continue to work remotely, there is little appetite to pay millions to live in the area.

July marked the first month this occurred, suggesting that the small reversal in the upward trend of financing costs wasn't enough to change the downward trajectory in homebuyer activity.

The market has shown signs of cooling down as sellers slash prices and homes linger longer.

By leveraging establishing relationships and engaging stakeholders, mortgage companies can play a part in alleviating the home availability and affordability strain, writes the president and CEO of the Federal Home Loan Bank of San Francisco.

Prices are starting to fall in one of the most expensive cities in the U.S. but they are still much higher than their pre-pandemic levels.

Even with another annual surge of over 20%, the pace of home-price growth eased in May and experts anticipate even further moderation over the next year.

While those born between 1946 and 1964 have largely chosen to age in place, their eventual home downsizing or passing is not likely to result in a large burst of inventory entering the market, according to a report from the MBA's Research Institute for Housing America.

High mortgage rates and high prices are starting to slow down the market. Still, tight inventory is keeping values high.