June Housing Survey

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MBS Highway’s June 2023 Housing Survey saw a slight pullback in buyer activity, albeit from elevated levels. Higher mortgage rates and low inventory levels are to blame. Demand remains very high, as evidenced by both rising prices and intensified competition nationwide. 64% of respondents in June 2023 characterized their local buyer activity as ‘Very Active’, ‘Somewhat Active’, or ‘Steady’. While that’s modestly down from 72% in May, it remains well above the 22% seen in December 2022. Availability and affordability is the issue for buyers, not the desire to move.

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