Housing Market Shifts Amid High Rates | Durham News

Mortgage rates hover around 6.5%, slowing buyer momentum, but the housing market’s story is more nuanced. Pending sales dipped slightly week-over-week yet rose 4% year-over-year, while listings climbed modestly despite a short-term drop. Homes are staying on the market longer—39 days, just one day up from last year—reflecting cautious buyer behavior. Yet, median home prices just hit a record high over $408,000, fueled by lingering pandemic-era demand and price momentum. Buyers now have more leverage than before, even as prices climb steadily—not in the explosive jumps of the past few years. The market’s shifting, and understanding these layered trends is key for anyone ready to buy. Support the show:Get a discount at https://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/868aca835698f673