Housing-Affordability Index Drops to Lowest Level Since 2006

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Fri Jul 08 2022 17:00:00 GMT+0000 (Coordinated Universal Time)

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Despite forecasts for a cooling housing market in 2022, U.S. home prices are still hitting record highs, even with mortgage rates surging in recent months. WSJ’s Dion Rabouin explains what’s driving demand, evidence of a slowdown on the horizon, and what that could mean for the economy.