January 26, 2023

By Michaelle Bond

A couple weeks ago, my colleague Aseem Shukla and I shared four charts explaining December’s slowing housing market. And now we have more evidence that activity from buyers and sellers has slowed.

Throughout the fourth quarter of 2022, sales and prices dropped, according to research that Drexel economist Kevin Gillen shared with The Inquirer. Higher mortgage interest rates, housing unaffordability, and a slower economy pumped the breaks on the market locally and nationally.

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