The housing market's fastest slowdown on record in 5 charts

📆 10/18/2023 1:59 PM
📰 MarketWatch

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How the Fed’s interest rate hikes have elevated mortgage payments and dried up home buyer demand, as home prices remain high.

The Fed’s battle against inflation over the last year and a half has resulted in home-buying demand plummeting as borrowing costs took off.

Housing has historically been very interest-rate sensitive, but this current regime of higher rates has made it the “fastest Fed-driven housing slowdown on record,” according to Apollo. Sales of existing single-family homes have fallen much more sharply than in previous periods when the Fed began raising interest rates.

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