Mortgage rates recently ticked higher within the mid-6% range, but national housing data still showed steady activity and growing buyer adaptation overall.
Mid-Q2 reports showed a healthy bounce, with added inventory drawing buyers who were becoming more comfortable with current mortgage conditions across the US.
Inflation at a 3-yr high and resilient labor conditions made a central bank pause likely, with a rate increase possible during summer.
Sellers with lower existing rates may stay cautious as inventory growth slows, while others adjust asking prices to attract demand from buyers today.
Pending sales have advanced for 6 consecutive mo, but affordability planning matters if inflation keeps outpacing wage growth and mortgage rates stay elevated.
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