The American housing market has weathered the COVID-19 pandemic in good health. It has been able to flourish despite (or in some places because of) infection rates, protective measures and changing lifestyles.
In the week ahead we will see how it is withstanding rising interest rates, high inflation and persistent recession worries.
There are several housing data points due out. On Tuesday, the existing home sales report will give investors the temperature of how springtime homebuyers are dealing with higher borrowing costs. This May data will be examined for the resilience of demand in the face of rising mortgage rates. It also will reflect how sellers are responding to the jump in interest rates.
