July Housing Survey

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MBS Highway’s July 2023 marked the second month of slowing levels of buyer activity. With average 30-year mortgage rates moving above 7% during the survey period, and inventory levels failing to grow during the spring selling season, this comes as no surprise. That said, demand remains robust, as evidenced by high levels of competition and upward pricing pressure in most regions. Notably, the hard-hit West region has seen a dramatic recovery.

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