A new Fannie Mae report examines how the "lock-in effect" is affecting the housing market. Click through to read why surveyed homeowners are staying put, and how that choice is sending ripple effects throughout the market.
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Home Prices Experience First Annual Drop Since 2012
While many homebuyers remained on the sidelines, home sales and competition leveled off in February, as the median U.S. home sale price fell 1.2% in February, marking the first year-over-year decline since 2012.
Read More »Pending Home Sales Drop in September
The National Association of Realtors’ latest Pending Home Sales Index showed transactions sliding by 31% year-over-year. Contract signings also pulled back in all four major U.S. regions, with inflated mortgage rates continuing to hinder homebuyers from purchasing a home.
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