Pending home sales slid for the fifth consecutive month in October, according to the National Association of Realtors. Three of four U.S. regions recorded month-over-month decreases, and all four regions recorded year-over-year declines in transactions.

A measure of construction contractors’ bid prices moved sharply higher in October as firms coped with ongoing supply-chain challenges and a tight labor market, according to an analysis by the Associated General Contractors of America of government data.

 Elevated interest rates, stubbornly high building material costs and declining affordability conditions that are pushing more buyers to the sidelines continue to drag down builder sentiment.

Existing-home sales experienced a slight dip in August, marking the seventh consecutive month of declines, according to the National Association of Realtors.

Single-family production is running at a weakened pace due elevated mortgage rates and high construction costs that have led to a major slowing of the housing market and exacerbated housing affordability.

In another sign that the slowdown in the housing market continues, builder sentiment fell for the ninth straight month in September as the combination of elevated interest rates, persistent building material supply chain disruptions and high home prices continue to take a toll on affordability.

Houzz reports homeowners are driven by both by aesthetic desires and functional necessities as they double down on their investment in these private sanctuaries

Existing-home sales sagged for the sixth straight month in July, according to the National Association of Realtors. All four major U.S. regions recorded month-over-month and year-over-year sales declines.

Despite escalating mortgage rates and slumping home sales in the second quarter of 2022, a greater number of markets experienced double-digit annual price gains compared to the prior quarter, according to the National Association of Realtors' latest quarterly report.

Builders saw sales decline significantly as buyers were priced out of the market on higher interest rates and ongoing home building and development costs, including building materials, according to NAHB.