{"id":5802,"date":"2022-06-24T11:36:00","date_gmt":"2022-06-24T16:36:00","guid":{"rendered":"https:\/\/www.morty.com\/resources\/?p=5802"},"modified":"2022-06-24T20:24:00","modified_gmt":"2022-06-25T01:24:00","slug":"home-sales-fall-prices-rise","status":"publish","type":"post","link":"https:\/\/www.morty.com\/resources\/the-morty-report\/home-sales-fall-prices-rise","title":{"rendered":"What to keep an eye on as home sales fall and prices rise"},"content":{"rendered":"\n<p>Existing home sales fell 3.4% in May while&nbsp;the&nbsp;median home price rose above $400,000 for&nbsp;the&nbsp;first time, according to&nbsp;<a href=\"https:\/\/www.nar.realtor\/research-and-statistics\/housing-statistics\/existing-home-sales\" target=\"_blank\" rel=\"noreferrer noopener\">data just released by&nbsp;the&nbsp;National Association of Realtors<\/a>&nbsp;(NAR). Despite&nbsp;the&nbsp;headlines, these numbers aren\u2019t necessarily a reason to panic.<\/p>\n\n\n\n<p>While yes, home sales are down overall, we\u2019re still in a \u201cwait and see\u201d moment.&nbsp;The&nbsp;market needs to settle in at these rate levels and we\u2019ll look to see what&nbsp;the&nbsp;longer-term impacts of macroeconomic conditions \u2013 especially inflation \u2013 will be on housing. Buyers should also keep in mind that this data is retrospective, and doesn\u2019t necessarily represent&nbsp;the&nbsp;current market conditions.<\/p>\n\n\n\n<p>It\u2019s possible that we will begin to see inventory increase and buyer demand cool. But&nbsp;the&nbsp;coming months remain uncertain, and there are signs that&nbsp;the&nbsp;real estate market could remain strong. Just remember that every market and buyer is slightly different, or in other words: don\u2019t assume that current conditions automatically mean it\u2019s a bad time to search for a home.<\/p>\n\n\n\n<p>&#8211; Robert Heck, <em>Vice President of Mortgage @&nbsp;<a href=\"https:\/\/www.morty.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Morty<\/a><\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-theme-palette-3-color has-text-color\">Read more of Robert\u2019s recent insights:<\/h2>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-1 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.housingwire.com\/articles\/how-the-feds-rate-hike-will-affect-the-housing-market\/\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"791\" src=\"https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/housingwire2.png\" alt=\"\" class=\"wp-image-5874\"\/><\/a><figcaption class=\"wp-element-caption\"><a href=\"https:\/\/www.housingwire.com\/articles\/how-the-feds-rate-hike-will-affect-the-housing-market\/\" target=\"_blank\" rel=\"noreferrer noopener\">How&nbsp;the&nbsp;Fed&#8217;s rate hike will affect&nbsp;the&nbsp;housing market<\/a><\/figcaption><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.businessinsider.com\/personal-finance\/cash-out-refinance-vs-heloc\"><img loading=\"lazy\" decoding=\"async\" width=\"1001\" height=\"791\" src=\"https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/bizinside.png\" alt=\"\" class=\"wp-image-5870\" srcset=\"https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/bizinside.png 1001w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/bizinside-300x237.png 300w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/bizinside-768x607.png 768w\" sizes=\"auto, (max-width: 1001px) 100vw, 1001px\" \/><\/a><figcaption class=\"wp-element-caption\"><a href=\"https:\/\/www.businessinsider.com\/personal-finance\/cash-out-refinance-vs-heloc\" target=\"_blank\" rel=\"noreferrer noopener\">Cash-out refinance or HELOC: What to know when choosing which you should use to tap your home&#8217;s equity<\/a><\/figcaption><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full is-resized\"><a href=\"https:\/\/www.bankrate.com\/mortgages\/mortgage-rates-surge-6-percent\/\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/bankrate.png\" alt=\"\" class=\"wp-image-5869\" style=\"width:256px;height:202px\" width=\"256\" height=\"202\" srcset=\"https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/bankrate.png 1001w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/bankrate-300x237.png 300w, https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/bankrate-768x607.png 768w\" sizes=\"auto, (max-width: 256px) 100vw, 256px\" \/><\/a><figcaption class=\"wp-element-caption\"><a href=\"https:\/\/www.bankrate.com\/mortgages\/mortgage-rates-surge-6-percent\/\" target=\"_blank\" rel=\"noreferrer noopener\">Key mortgage rate surges past 6% as Fed battles inflation<\/a><\/figcaption><\/figure>\n<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading has-theme-palette-3-color has-text-color\">In case you missed it&#8230;<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This week\u2019s&nbsp;<a href=\"https:\/\/www.cnbc.com\/2022\/06\/20\/heres-why-this-housing-downturn-is-nothing-like-the-last-one.html\" target=\"_blank\" rel=\"noreferrer noopener\">CNBC article on&nbsp;the&nbsp;current housing downturn<\/a>&nbsp;covers many of&nbsp;the&nbsp;reasons I still don\u2019t believe we\u2019re in a housing bubble.<\/li>\n\n\n\n<li>If you\u2019re looking for a low-down payment option,&nbsp;<a href=\"https:\/\/www.morty.com\/resources\/mortgage-101\/homeready-low-down-payment-mortgage-program\" target=\"_blank\" rel=\"noreferrer noopener\">Fannie Mae\u2019s HomeReady program<\/a>&nbsp;might be one to consider.<\/li>\n\n\n\n<li>Last call to earn a $250 gift card:&nbsp;<a href=\"https:\/\/morty-media.s3.us-east-2.amazonaws.com\/Morty_pre_approval_program_terms_conditions_060322.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Get pre-approved<\/a>&nbsp;in June and close anytime in 2022.&nbsp;See full terms and conditions&nbsp;for eligibility.<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-media-text alignwide is-stacked-on-mobile has-white-color has-theme-palette-1-background-color has-text-color has-background\" style=\"grid-template-columns:25% auto\"><figure class=\"wp-block-media-text__media\"><a href=\"https:\/\/www.morty.com\/mortgage-rates\"><img loading=\"lazy\" decoding=\"async\" width=\"1080\" height=\"1080\" src=\"https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2023\/05\/rates-1x1-1.png\" alt=\"\" class=\"wp-image-8885 size-full\"\/><\/a><\/figure><div class=\"wp-block-media-text__content\">\n<p class=\"has-text-align-center has-large-font-size\">Want to know what you can afford?<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-1 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button has-custom-width wp-block-button__width-75\"><a class=\"wp-block-button__link has-theme-palette-3-color has-white-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.morty.com\/mortgage-rates\" style=\"border-radius:100px\" target=\"_blank\" rel=\"noreferrer noopener\">VIEW Mortgage RATES<\/a><\/div>\n<\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>June 24, 2022. Existing home sales fell 3.4% in May while\u00a0the\u00a0median home price rose above $400,000 for\u00a0the\u00a0first time, according to\u00a0data just released by\u00a0the\u00a0National Association of Realtors\u00a0(NAR). Despite\u00a0the\u00a0headlines, these numbers aren\u2019t necessarily a reason to panic.<\/p>\n","protected":false},"author":1,"featured_media":5940,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_lmt_disableupdate":"yes","_lmt_disable":"","_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[611],"tags":[572,564,57],"series":[562],"class_list":["post-5802","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-morty-report","tag-homeready","tag-mortgage-rates","tag-pre-approval","series-the-morty-report-newsletter"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What to watch as home sales fall and prices rise | Morty Resources<\/title>\n<meta name=\"description\" content=\"Existing home sales fell 3.4% in May while\u00a0the\u00a0median home price rose above $400,000 for\u00a0the\u00a0first time, according to\u00a0data just released by\u00a0the\u00a0National Association of Realtors\u00a0(NAR). Despite\u00a0the\u00a0headlines, these numbers aren\u2019t necessarily a reason to panic.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.morty.com\/resources\/the-morty-report\/home-sales-fall-prices-rise\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What to watch as home sales fall and prices rise | Morty Resources\" \/>\n<meta property=\"og:description\" content=\"Existing home sales fell 3.4% in May while\u00a0the\u00a0median home price rose above $400,000 for\u00a0the\u00a0first time, according to\u00a0data just released by\u00a0the\u00a0National Association of Realtors\u00a0(NAR). Despite\u00a0the\u00a0headlines, these numbers aren\u2019t necessarily a reason to panic.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.morty.com\/resources\/the-morty-report\/home-sales-fall-prices-rise\" \/>\n<meta property=\"og:site_name\" content=\"Morty Resources\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/HiMorty\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-24T16:36:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-25T01:24:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/number.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1732\" \/>\n\t<meta property=\"og:image:height\" content=\"974\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Nora Apsel\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@himorty\" \/>\n<meta name=\"twitter:site\" content=\"@himorty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nora Apsel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.morty.com\/resources\/the-morty-report\/home-sales-fall-prices-rise#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.morty.com\/resources\/the-morty-report\/home-sales-fall-prices-rise\"},\"author\":{\"name\":\"Nora Apsel\",\"@id\":\"https:\/\/www.morty.com\/resources\/#\/schema\/person\/b2240f410dcc926390e8592cf8b62046\"},\"headline\":\"What to keep an eye on as home sales fall and prices rise\",\"datePublished\":\"2022-06-24T16:36:00+00:00\",\"dateModified\":\"2022-06-25T01:24:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.morty.com\/resources\/the-morty-report\/home-sales-fall-prices-rise\"},\"wordCount\":347,\"publisher\":{\"@id\":\"https:\/\/www.morty.com\/resources\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.morty.com\/resources\/the-morty-report\/home-sales-fall-prices-rise#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/number.png\",\"keywords\":[\"homeready\",\"Mortgage Rates\",\"Pre-Approval\"],\"articleSection\":[\"The Morty Report\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.morty.com\/resources\/the-morty-report\/home-sales-fall-prices-rise\",\"url\":\"https:\/\/www.morty.com\/resources\/the-morty-report\/home-sales-fall-prices-rise\",\"name\":\"What to watch as home sales fall and prices rise | Morty Resources\",\"isPartOf\":{\"@id\":\"https:\/\/www.morty.com\/resources\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.morty.com\/resources\/the-morty-report\/home-sales-fall-prices-rise#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.morty.com\/resources\/the-morty-report\/home-sales-fall-prices-rise#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.morty.com\/resources\/wp-content\/uploads\/2022\/06\/number.png\",\"datePublished\":\"2022-06-24T16:36:00+00:00\",\"dateModified\":\"2022-06-25T01:24:00+00:00\",\"description\":\"Existing home sales fell 3.4% in May while\u00a0the\u00a0median home price rose above $400,000 for\u00a0the\u00a0first time, according to\u00a0data just released by\u00a0the\u00a0National Association of Realtors\u00a0(NAR). 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Apsel","author_link":"https:\/\/www.morty.com\/resources\/author\/nora"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/www.morty.com\/resources\/category\/the-morty-report\" rel=\"category tag\">The Morty Report<\/a>","rttpg_excerpt":"June 24, 2022. Existing home sales fell 3.4% in May while\u00a0the\u00a0median home price rose above $400,000 for\u00a0the\u00a0first time, according to\u00a0data just released by\u00a0the\u00a0National Association of Realtors\u00a0(NAR). Despite\u00a0the\u00a0headlines, these numbers aren\u2019t necessarily a reason to panic.","_links":{"self":[{"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/posts\/5802","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/comments?post=5802"}],"version-history":[{"count":18,"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/posts\/5802\/revisions"}],"predecessor-version":[{"id":11358,"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/posts\/5802\/revisions\/11358"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/media\/5940"}],"wp:attachment":[{"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/media?parent=5802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/categories?post=5802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/tags?post=5802"},{"taxonomy":"series","embeddable":true,"href":"https:\/\/www.morty.com\/resources\/wp-json\/wp\/v2\/series?post=5802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}