Homes Cost More Rates Climb Buyers Struggle | Lubbock News

Homes are getting pricier, loans cost more, and buyers are struggling — July’s U.S. housing market saw a slight dip in sales but hit record-high prices at $434,100, fueled by stubbornly high mortgage rates near 6.7%. With inventory at a 4.6-month supply — far below the healthy 5-6 months — and first-time buyers shrinking to just 29% of sales, experts warn that unless rates drop closer to 6%, the market’s sluggishness since 2022 could persist. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/25a2448d600b13b1