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Homebuyers Need to Earn $114,627 to Afford a Median-Priced Home

Homebuyers Need to Earn $114,627 to Afford a Median-Priced Home

by Phil Hall | Oct 18, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

A homebuyer needs to earn $114,627 in order to afford the purchase of a median-priced home, according to data from Redfin (NASDAQ:RDFN). This up 15% ($15,285) from one year ago and up by more than 50% since the start of the pandemic in March 2020. The current income...
RE/MAX: September’s Median Sales Price Was $415,000

RE/MAX: September’s Median Sales Price Was $415,000

by Phil Hall | Oct 18, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The median sales price for the U.S. housing market in September was $415,000, a seasonal decline of 2.4% from August’s $425,000 but 2.5% above the $405,000 in September 2022, according to new data from RE/MAX (NASDAQ:RMAX). Among the 50 markets tracked for RE/MAX’s...
Housing Starts Up in September

Housing Starts Up in September

by Phil Hall | Oct 18, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Single‐family housing starts in September were at a rate of 963,000, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development. Last month’s rate was 3.2% higher than the revised August figure of 933,000. Privately‐owned housing...
Mortgage Application Activity Sinks to 28-Year Low

Mortgage Application Activity Sinks to 28-Year Low

by Phil Hall | Oct 18, 2023 | Current News & Events, Mortgage Information, Real Estate News, U.S. Housing Market, WRE News Exclusive

Mortgage application activity plummeted to a 28-year low, according to data from the Mortgage Bankers Association (MBA) covering the week ending Oct. 13. The Market Composite Index, the trade group’s measure of mortgage loan application volume, slumped by 6.9% on a...
Most Americans Would Buy a Haunted House Just to Save Money

Most Americans Would Buy a Haunted House Just to Save Money

by Phil Hall | Oct 17, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

More than half of Americans would be open to buying a haunted house and nearly three quarters of them would be willing if they could save money on the deal, according to a Halloween season-timed survey coordinated by Clever Real Estate. Most Americans (62%) would only...
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