Sumary of GRAPHIC-U.S. housing market floats back to earth:
- By Stephen Culp3 Min ReadNEW YORK (Reuters) – The U.S. housing market appears to be straining under the weight of its own pandemic-driven success.
- On Monday, the National Association of Homebuilders reported builder sentiment softening, as higher input costs and rising home prices appear to be denting the traffic of potential homebuyers.
- Graphic: NAHB:The most recent data shows an annual increase of 14.9% in the Case-Shiller’s 20-city composite home price index, and NAHB’s traffic of potential buyers – while still well above pre-pandemic levels – off 15.6% from November’s apex.
- Graphic: Home prices and potential buyer traffic:Indeed, mortgage demand dropped by 4% last week, according to the Mortgage Bankers Association (MBA).