US Single-Family Home Prices Dip

United States single-family house prices eased by 0.1% in April, as reported by the United States — Federal Housing Finance Agency, following an upwardly revised 0.2% rise in March. This monthly decline is attributed to weak demand, driven by increased oil prices from the U.S.-Israel war with Iran, which led to higher inflation and mortgage rates. Data from United States — Freddie Mac shows the average 30-year fixed-rate mortgage increased by about 50 basis points since late February, reaching 6.49%. Despite the monthly dip, house prices were up 2.0% year-over-year, supported by a national housing shortage estimated at 1.2 million homes by the National Association of Home Builders. The United States passed a bill to address housing affordability, but Donald Trump refused to sign it, seeking to pressure Republicans on voting restriction measures.