Realtor.com® Market Clock® Report: Buyers Gain Ground as Mortgage Rates Top 7%

Buyers are gaining leverage in the U.S. housing market, but higher mortgage rates are cutting their purchasing power, according to the Realtor.com® Market Clock® report released today. The national Realtor.com® Market Clock® reading has moved to 4 o'clock, late balanced and loosening toward buyers, moving from 3 o'clock last quarter. About two-thirds of metros now favor buyers outright or are moving in that direction.