U.S. home prices continue swinging upward amid elevated mortgage rates, an environment benefiting home builders more than homebuyers. National Mortgage News Editor-in-Chief Heidi Patalano joins Yahoo Finance Live to discuss housing market constrictions driven by rates and supply conditions.
"We saw that new home sales hit a high last week, but yet home builder sentiment is down slightly because of... the interest rates scaring off some buyers," Patalano says on the challenges home builders like Toll Brothers (TOL) are facing. "So we're seeing some of them offer incentives to get people into those homes, they're offering breaks in the customization of the homes that they're going to deliver and in closing costs."
Patalano also comments on regional pricing trends that are a deciding factor on whether to buy a home or build one.
