Freddie Mac (OTCQB: FMCC) released the results of its Primary Mortgage Market Survey, and it is not welcome news for those hoping to see mortgage rates decline. The 30-year fixed-rate mortgage averaged 6.39% of May 18, up from last week when it averaged 6.35%. A year...
Fewer existing homes were sold last month, according to new data from the National Association of Realtors (NAR). Total existing home sales – which encompass single-family homes, townhomes, condominiums and co-ops – were down by 3.4% from March to a seasonally...
The U.S. rental market experienced single-digit growth for the ninth consecutive month in April, according to new data from Realtor.com. Last month saw the slowest growth rate since the beginning of the pandemic. Realtor.com reported that the median rent across the...
Closed sales of existing single-family homes in Florida last month totaled 23,334, a 17.2% year-over-year decline, according to new data from Florida Realtors. Existing condo-townhouse sales totaled 10,040, a 26.8% slide from April 2022. The statewide median sales...
Sam Zell, one of the most influential figures in the U.S. commercial real estate industry, passed away at the age of 81. Zell became involved in real estate when he managed student housing while he was an undergraduate at the University of Michigan and co-founded...
It’s no secret that today’s housing market poses a number of obstacles to purchasing a home. Interest rates have risen nearly three percentage points over the last year. Inflation has cooled but remains high. And housing affordability and housing availability remain...
Hits and Misses for the Real Estate Week of Aug. 24-28
