Pennsylvania’s median home sales price reached $295,000 last month, according to data from the Pennsylvania Association of Realtors (PAR). This marks a 5% increase from the $280,000 sales price in April and an 8.2% upswing from $273,000 in May 2023. “Home sales...
A home buyer making the median income will need to put down nearly $127,750, or 35.4%, to afford a typical U.S. home valued at about $360,000, according to a data analysis from Zillow (NASDAQ:Z, ZG). In some markets, the costs are more burdensome. For example, a...
Mortgage application activity inched up last week, according to data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, was up by 0.9% on a seasonally adjusted basis week-over-week, while the...
A total of 67,817 single-family homes and condominiums were flipped in the first quarter, according to new data from ATTOM. This represents 8.7% of the quarter’s home sales, or one of every 12 transactions. The first quarter’s activity was up from 7.7% of all home...
Single‐family housing starts in May were at a rate of 982,000, according to new data from the U.S. Census Bureau and the Department of Housing and Urban Development. This is 5.2% below the revised April figure of 1.03 million. Privately‐owned housing starts in May...
Switzerland’s central bank enacted its second interest rate cut of the year while the Bank of England opted to hold rates at their current level. The Swiss National Bank slashed its key interest rate by 25 basis points to 1.25%. In March, Switzerland became the first...
Hits and Misses for the Real Estate Week of May 11-15
