Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter.

Federal Reserve Governor Michelle Bowman issued a housing market warning during a speech at the Kentucky Bankers Association Annual Convention in Asheville, North Carolina on September 23.

Bowman noted that housing activity has slowed significantly, with declines in single-family construction and sales coinciding with rising inventories and falling house prices in many markets.

“Declines in housing activity, including single-family home construction and sales, have been accompanied by higher inventories of homes for sale and falling house prices, suggesting that housing demand has also weakened,” Bowman said. “Elevated mortgage rates may be exerting a more persistent drag

See Full Page