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Fitch Ratings reveals how much US house prices will drop in 2023
Source: MPA Mag --- US home prices are set to fall by 5% next year in line with substantial price falls in housing markets across the globe, according to a new report by Fitch Ratings. The ‘Global Housing and Mortgage Outlook – 2023’, which analyzed housing markets...
What’s happening with the housing market? Mortgage rates, home prices and affordability
Source: USA Today --- Potential buyers remained reluctant to take the plunge on financing a home purchase even as mortgage rates fell for the fourth straight week. Mortgage applications decreased 2% the week ending Dec. 2 compared to the previous week. And the average...
The Fastest-Growing Cities Are in Just 2 States. Can You Guess Which Ones?
Source: Realtor --- The nation’s fastest-growing cities are more like popular suburbs located just outside of the hottest real estate markets. And they are all clustered in just two states: Texas and Arizona. During the height of the COVID-19 pandemic, smaller cities...
Home prices rose by more than 20% year-over-year in March
Source: CNN --- (CNN)US home prices continued to surge higher in March, as buyers raced to lock in homes before the average mortgage rate hit 5%. Home prices rose 20.6% in March from the year before, an even higher rate than the 20% growth seen in February, according...
Keep an eye on these ‘overvalued’ housing markets as the housing boom implodes
Source: Fortune --- Fundamental economics tells us that home price growth and income growth are interwoven. Neither can outrun the other for very long. That is what’s concerning about the pandemic’s housing boom: Over the past year, home price growth (20.6%) is four...
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