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China’s real estate crisis deepens as big Shanghai developer defaults
Source: CNN --- Hong Kong (CNN Business)Another major Chinese developer has defaulted on its debt, dealing a new blow to the ailing real estate sector in the world's second largest economy. Shanghai-based Shimao Group failed to pay the interest and principal on a $1...
Housing correction is ‘dead ahead,’ warns Moody’s chief economist Mark Zandi — here’s how he sees things playing out over the next several months
Source: Yahoo Finance --- Home prices across the United States continue to rise, with the entire country seeing an increase of over 1% between April and May this year, according to the National Association of Realtors. It’s even higher in some parts of the country,...
NHSCA Hosts First National Home Warranty Conference
June 9-10 marked the first ever convocation of the most significant leaders and stakeholders in the home warranty industry in Santa Fe, New Mexico. The home warranty industry convened the leading providers, suppliers, technology firms and affiliates in the home...
Should You Hire a Real Estate Agent to Sell Your Home? Here’s What Dave Ramsey Says
Source: Nasdaq --- In a normal housing market, a relatively quick and painless home sale is by no means a given. It's not unheard of for homes to sit on the housing market for months on end without a buyer -- especially if they're not priced or marketed well. Today's...
Redfin Economist Q&A: How Rising Rates and Economic Uncertainty Could Impact Home Prices, Migration, Rentals and More
Source: Redfin --- Mortgage rates have doubled since the beginning of the year to nearly 6%, taking a toll on affordability and demand. The monthly payment on a $400,000 home rises more than $550 with rates going from 3% to 6%. That increase, along with the slumping...
First American: Housing affordability drops to lowest point since 2007
Source: Scotsman Guide --- The latest Real House Price Index (RHPI) report from First American Financial Corp. offered further confirmation that affordability is one of the U.S. housing market’s biggest issues. The RHPI, which measures the price changes of...
Redfin’s chief economist says the housing market correction has begun—and things are going to get worse before they get better
Source: Fortune --- As summer kicks off, everything is heating up. Everything, it seems, except the housing market. Following a blistering two year tear, real estate firm Redfin is reporting big drops in demand and price cuts becoming the norm in many of the hottest...
Home inventory grows as more listings come onto the market
Source: Realty Biz News --- Realtor.com reported that active listings of existing homes rose 19$ in June, the fastest rise since it began tracking the data five years ago. Meanwhile, the number of new listings also surpassed pre-pandemic levels, rising 4.5% from a...
Gen Z and homebuying
Source: Bankrate --- Generation Z is quickly superseding millennials as the next crop of consumers. Born between 1997 and 2012, this group is beginning to hit the marker that makes them old enough to vote, go to college and move out of childhood bedrooms and into...
Housing Market Update: Asking Prices Come Down from All-Time High
Source: Redfin --- More and more, home sellers are ceding to the mounting pressure on affordability posed by this month’s rapid mortgage-rate hike. The median asking price of newly listed homes is down 1.5% from the all-time high it reached in the spring, and a...
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