Rising Rates Stall Housing Market Momentum Just After Closed Home Sales Hit Highest Level Since 2022

Closed home sales jumped in May, reflecting April’s dipping mortgage rates and a strong labor market. But pending home sales were flat, a real-time reflection of May’s rising mortgage rates and economic uncertainty, which dampened buyers’ appetites. The Bay Area’s AI-fueled hot housing market contributed to the surge in closed sales, with double-digit sales upticks […] The post Rising Rates Stall Housing Market Momentum Just After Closed Home Sales Hit Highest Level Since 2022 appeared first on Redfin Real Estate News .