Homebuyer conditions for US consumers have declined to an all-time low in June 2024.

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  • Homebuyer Conditions Index:
  • Comparison with the 1980s:
    • The current index level of 27 points is below the previous all-time low recorded in the 1980s.
    • During that period, 30-year mortgage rates were significantly higher, ranging between 12% and 19% on average.
    • In contrast, today’s mortgage rates are around 7%.
  • Index Decline Since 2020:
    • Since 2020, the index has dropped by a substantial 80%, falling from approximately 140 points.
    • This decline indicates worsening perceptions of homebuying conditions.
  • Median US Home Sale Price:
    • The median US home sale price has reached a new record of $393,627.
    • This high price contributes to affordability challenges for potential homebuyers.
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