Buyers are getting a slight reprieve from this year's massive rise in rates that has started to cool parts of the housing market.
The pandemic housing boom is careening to a halt as mortgage rates surge higher.
This year's massive run-up in borrowing costs has fueled a sudden shift in the previously frenzied U.S. housing market.
Selling risky mortgages based on volatile per-night Airbnb income could end badly for communities, borrowers and investors.
Luxury deals fell the most in Long Island's Nassau County, with a decline of 45.3% from a year earlier.
Buyers have gotten a slight reprieve in recent weeks from the massive run-up in mortgage rates.
The average for a 30-year loan declined to 5.10% from 5.25% last week.
The monthly mortgage bill on a typical existing single-family home is up $319 from a year earlier.
Mortgage rates have climbed two percentage points from the end of last year.
At 5%, borrowers with a $300,000 mortgage would pay $1,610 a month, up $327 from the end of last year.
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