Market volatility is causing more and more homebuyers to delay or cancel plans to make a purchase.

Rising mortgage rates have led to a substantial increase in the number of markets considered overvalued.

Mortgage rates continue to fluctuate by nearly half a percentage point every month, leaving homebuyers facing the most volatile three-month period they’ve seen since 1987.

“Homeownership remains largely unaffordable for the majority of homebuyers in the majority of markets across the country,” said Rick Sharga, executive vice president of market intelligence at ATTOM.

The price index dropped in Boston by 0.27% from June to July. Year over year, the Boston home price index is up 11.02%.

While 23% of residential Realtors claim they have feared for their safety while on the job, 98% reported that they have never been the victim of a crime while at work.

The National Association of REALTORS® expects existing-home sales to close 2022 15.2% lower compared to 2021, thanks to economic uncertainty and rising mortgage rates. 

In Boston, 54% of Redfin offers faced competition in August.

Sales of new homes in the U.S. jumped 28.8% between July and August, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.  

Over the summer homebuyers and sellers alike took a big step back amid rising interest rates and recession fears.

Rising interest rates, inventory issues and inflation concerns contributed to the drop.

The median existing-home price for all housing types in August was $389,500, a 7.7% rise from the year before. 

The NAR’s Community Aid and Real Estate (CARE) Report shows that REALTOR® associations donated a median of $12,070 this past year, a 20% increase over 2020.

New-home construction posted a 12.2% month-over-month increase in August, thanks in large part to a significant jump in multifamily building.  

A continuing combination of increased interest rates, supply-chain disruptions and high home prices has sapped homebuilder sentiment every month this year. 

The housing market is starting to become more balanced.