“If I were trying to make a case that the decline in home prices that began in June 2022 had definitively ended in January 2023, April’s data would bolster my argument. Whether we see further support for that view in coming months will depend on how well the market navigates the challenges posed by current mortgage rates and the continuing possibility of economic weakness.” --Craig Lazzara, Managing Director at S&P DJI.

The Pew Charitable Trusts, Philadelphia, found small mortgages to purchase low-cost homes--defined as those priced below $150,000--have become increasingly scarce.