Housing Market

The Housing Market Hotness Index ticked higher in mid-April, signaling resilient demand despite ongoing headwinds. While mortgage rates remain elevated, they are still lower than a year ago, offering slight affordability relief. At the same time, housing activity is becoming increasingly regional, with strong demand in some markets and softer conditions in others.

The Housing Market Hotness Index moved into the stable range in early April, signaling a slight improvement in activity. However, overall conditions remain similar to last year, with modestly higher inventory offset by softer sales. Regional differences continue to shape the market, with strong demand in some areas and more muted activity in others.

Housing market activity edged higher at the end of March but remains below last year’s levels. Rising mortgage rates and signs of a softening labor market are adding new pressure to an already strained affordability environment.

The housing market posted a modest rebound in March, with improving activity following a weak February. But that progress may be short-lived as mortgage rates climb again and uncertainty around potential rate hikes and global conflict weighs on buyer confidence.

The housing market is showing signs of renewed momentum heading into spring, with the U.S. Housing Market Hotness Index rising week over week. However, increasing geopolitical tensions and rising oil prices are driving inflation expectations higher, pushing mortgage rates upward and introducing new uncertainty into what is typically the busiest homebuying season.