A surge in borrowing costs is making home purchases more expensive with little relief in sight.
Single-family home prices in Florida have flattened for the first time since 2011.
Investors bought nearly 49% fewer homes in the first quarter than they did last year.
Demand is picking back up in parts of the US as buyers start to adjust to much higher borrowing costs.
The average for a 30-year, fixed loan was 6.39%, up from 6.35% last week.
Incoming data suggest the market has stabilized, a Freddie Mac economist says.
Markets across the country have cooled off after a sudden and rapid surge in borrowing costs.
The average for a 30-year, fixed loan was 6.39%, up from 6.27% last week.
Buyers pulled back from the market toward the end of 2022 as mortgage rates skyrocketed.
His administration wants to increase homeownership access for first-time and low-income buyers.
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