“Some buyers are asking sellers for the sun, the moon, and the stars in addition to offering below the asking price, and some are requesting no extras because they’re so motivated to secure one of the few homes on the market,” said Boise, Idaho Redfin agent Shauna Pendleton.

Early-stage delinquencies (borrowers 30 days late) bore the brunt of the rise, increasing by 200K (+25%), which matches the impact of previous similar calendar-related events.

According to Freddie Mac’s latest report, stubborn inflation is a major concern for the housing market and the economy as a whole. Click through to find out what else Freddie Mac found during Q1.

Boise, Idaho and Austin, Texas experienced the biggest drops in home prices as U.S. median home sale prices fell 4.1% across the board. Click through to see what that decline represents.

During a period of the year where home sales traditionally increase moving into the peak summer season, April sales declined more than 7%.

Fannie Mae is still predicting recession conditions to occur this year due to a slow down in the economy, and a tightening of credit standards.

Existing-home sales dropped 3.4% to a seasonally adjusted annual rate of 4.28 million units at a median price of $388,800.

Based on April’s data, potential existing-home sales increased to a 5.34 million seasonally adjusted annual rate, a 0.45% month-over-month increase. This represents a 53.3% increase from the market potential low point over 30 years ago in February 1993.

”Buyers and sellers alike are looking towards the upcoming Federal Reserve meeting with hope, as some experts anticipate the reversal of rate hikes, which could potentially lead to a resurgence in activity.”

All types of credit, mortgages and credit cards included, were up in Q1 of 2023.