Source: CNN — Low inventory and surging demand have sent house prices soaring around the world, raising concerns about how long the red-hot market can be sustained. What’s happening: The International Monetary Fund’s Global House Price Index, which...
Source: Housing Wire — Median home-sale prices hit yet another record high in May — up to $377,200, a 26% increase year over year. And 54% of homes sold above their asking price in May — another record high, up from 26% a year ago, according to a new report...
Source: Veranda — After more than a year of quarantine life at home, even The Wizard of Oz’s Dorothy might click her twinkling heels and say, “There’s no place like a cocktail bar.” The pandemic certainly shaped how we live in our respective domiciles—and did...
Source: CNBC — The average rate on the popular 30-year fixed mortgage moved decidedly higher Thursday, hitting 3.25%, according to Mortgage News Daily. That is the highest rate since mid-April. The move was a reaction to comments made Wednesday by Federal...
Source: The Wall Street Journal — Lumber prices are falling back to Earth. Futures for July delivery ended Tuesday at $1,009.90 per thousand board feet, down 41% from the record of $1,711.20 reached in early May. Futures have declined 14 of the past 16 trading...
Hits and Misses for the Real Estate Week of May 4-8
