Housing market cools as inflation, interest rates soar higher

Housing market cools as inflation, interest rates soar higher

Roger Pettingell Sarasota Real Estate

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The housing market is seemingly cooling as inflation and higher interest rates impact homebuyers. Homes are increasingly selling at a slower pace, down to 21 percent since January, according to the National Association of Realtors. Mortgage applications also just hit their lowest point since 2000. Despite more homebuyers backing out, the median home price hit another high last month at $416,000.


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