Home Prices Cooled at Fastest Recorded Pace in June |
Abstract
In June, the annual pace of home price appreciation slowed by two percentage points. More houses are becoming available and fewer buyers are actively purchasing, easing the pressure to make offers over asking price. The supply of homes for sale has jumped 22% in the past two months, according to Black Knight. The Job Openings and Labor Turnover Survey (JOLTs) fell below expectations. The number of job openings and voluntary quits decreased in June. The employment report coming out this Friday will be very important. The unemployment report will be a very important as well. If you’ve been waiting for rates to trend lower or prices to cool, now might be your chance to jump into a homeownership.
