The pace of home price growth has slowed significantly in July, according to Realtor.com’s Housing Trend Report. At the same time, lower mortgage interest rates have allowed an additional 2.7 million households to qualify for mortgages.
Realtor.com’s senior economist, George Ratiu noted, “July’s data highlights tension in the housing market between buyers eager to take advantage of lower mortgages rates and potential sellers concerned about slowing price growth”.