“The modest increases in home prices we saw a month ago accelerated in March. Two months of increasing prices do not a definitive recovery make, but March’s results suggest that the decline in home prices that began in June 2022 may have come to an end." --Craig Lazzara, Managing Director of Index Investment Strategy at S&P DJI.

MBA recently released its April Purchase Applications Payment Index (PAPI), which revealed that affordability continued to erode in the first four months of 2023.

Vacant residential properties increased 1.3% in the second quarter to 1.28 million houses, reported ATTOM, Irvine, Calif.