Demand drops by 18% due to surging mortgage rates. In the first half of 2023, as mortgage rates decreased to around 4%, there was a rebound in home demand, which positively impacted new sales. However, a rapid ascent in mortgage rates to 6% in the recent six weeks has dampened purchasing...
On initial observation, the significant decrease in the inflation rate to 6.8% suggests a return to a more balanced housing market scenario.
Nevertheless, core indicators of inflationary momentum throughout the market aren’t moving as favourably as expected.
The decline in domestic...
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