A lot of homebuilders are working with lenders to offer lower mortgage rates — or they’re offering other incentives like money towards closing costs.

The average monthly payment on a new mortgage rose 46% in 2022, and home prices and mortgage rates have continued to climb in 2023.

Pending home sales fell more than 7% in August, according to the National Association of Realtors. While demand for homes is still high, people are having a harder time qualifying for mortgages — and that’s intensifying demand for cheaper homes.

Both the buyer and the seller have unrealistic expectations right now, while prices and mortgage rates are high.

The highest mortgage rates in 20 years are now coupled with high home prices — bringing angst to many homebuyers.

A new report finds the rate of mortgage borrowers considered “equity rich” increased to 49% in the second quarter.

The Case-Shiller National Home Price Index rose half a percent in April — a third-straight monthly increase.

New Case-Shiller data suggests prices are rebounding after a moderate dip, though regional differences are pronounced.

Last month, 20% fewer existing homes were sold than in May 2022. People are staying put — and staying together — to avoid higher costs.

Realtors are encouraging their clients to get creative if they really want to make a move while interest rates remain high and inventory remains low.