Weekly Market Observations - July 4, 2023

Here’s Our Weekly Market Observations :

Pending home sales fell 2.7% in May from April and 22.2% YOY

The South region counts for over half of all US multifamily construction

Dallas bans short-term rentals in single-family neighborhoods

Mortgage rates trending back up after falling for three weeks

Average 30-year fixed mortgage rates up slightly to 6.71%