Episode Details

In July 2022, home prices in Ayden, North Carolina, increased despite circumstances that often put negative pressure on home values, such as rising mortgage rates and a growth in housing supply. Mortgage applications hit an all-time low at the end of July. The current change in the housing market is a result of both the general status of the economy and consumer confidence. The economy is also currently shifting. On the one hand, the fact that the GDP has dropped over the last two quarters is a sign that the economy is weakening. Consumer spending and the job market are still performing well, though.