Source: Fox Business — The National Association of Home Builders warned on Wednesday that soaring inflation and higher mortgage rates are slowing home sales, with CEO Jerry Howard calling the combination a “perfect storm.” Howard told “Varney...
Source: Fortune — It’s not just about how expensive housing became—it’s how fast it got there. It only took 24 months for U.S. home prices to soar a staggering 37%. For comparison, the biggest two-year spike leading into the 2008 housing crash was 29%. Heading...
Source: KUTV — SALT LAKE CITY (KUTV) — Housing prices along the Wasatch Front have soared to record levels yet again. New numbers from UtahRealEstate.com, provided to KUTV 2News by the Salt Lake Board of Realtors, show the median sales price for a single-family...
Source: Redfin — The highest share of sellers on record dropped their list price during the four weeks ending June 12 as mortgage rates shot up to levels not seen since 2008, dwindling the pool of home shoppers. Still, homebuying has never been more expensive....
Source: CNBC — Sentiment among the nation’s homebuilders fell for the sixth straight month to the lowest level since June 2020, when the economy was grappling with shutdowns stemming from the Covid pandemic. The National Association of Home Builders/Wells Fargo...
Source: New York Times — What does the Fed’s decision to raise its key interest rate by three-quarters of a percentage point mean for mortgages? [Here’s what the Fed’s decision means for credit cards, car loans and student loans.] Rates on 30-year fixed...
Hits and Misses for the Real Estate Week of May 11-15
