U.S. Housing Market Updates
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Pending Home Sales Up in May
“Consistent job gains and rising wages are modestly helping the housing market,” said NAR Chief Economist Lawrence Yun. Continue Reading Pending Home Sales Up in May
FHFA Orders Review for Using Cryptocurrencies in Mortgage Market
No deadline was set, but Pulte asked that the directive “should be implemented as soon as reasonably practical.” Continue Reading FHFA Orders Review for Using Cryptocurrencies in Mortgage Market
Additional Reading: MOST POPULAR U.S. HOUSING MARKET News & Headlines
Q4 Renter Population Up by Less Than 1%
Home prices are more than 40% above pre-pandemic levels and rent prices are roughly 20% above pre-pandemic levels. Continue Reading Q4 Renter Population Up by Less Than 1%
Mortgage Applications Down, Homeowner Equity Up
“Overall, purchase application volume is up 6% compared to last year at this time,” said MBA’s Mike Fratantoni. Continue Reading Mortgage Applications Down, Homeowner Equity Up
Report: Las Vegas Has Greatest Shortage of Affordable Housing for Extremely Low-Income Renters
Dallas, Austin, San Diego and Houston also have shortages of affordable housing. Continue Reading Report: Las Vegas Has Greatest Shortage of Affordable Housing for Extremely Low-Income Renters
Housing Market Update: Home Prices Fall Annually For First Time In A Decade As Mortgage Rates Pass 7%
Source: Redfin --- The median U.S. home-sale price declined 0.6% year over year in February, marking the first annual drop since 2012–but high rates mean homes aren’t more affordable. The milestone comes as daily average mortgage rates hit 7.1%, dampening homebuying...
US home prices could plunge 20% amid risk of ‘deep’ housing slide, Fed economist warns
Source: Fox Business --- U.S. home prices could tumble as much as 20% as the highest mortgage rates in two decades threaten to trigger a "deep global housing slide," according to research from the Federal Reserve Bank of Dallas. The global housing market has become...
NYC remains the most expensive real estate market in world: Report
Source: New York Post --- The Big Apple has retained its crown as the world’s priciest housing market. New data has determined that, in 2022, more ultra-prime property transactions were conducted in New York City than anywhere else on Earth. On Wednesday, real estate...
This State Has the Highest Real Estate Taxes (and It’s Not Even Close)
Source: The Motley Fool --- Residents in this state pay about three times the national median. The median U.S. homeowner pays 1.11% of their home's value in property taxes each year. And based on 2021 home-price data, this translates to a median tax bill of $2,971....
Boon for Buyers: The 10 U.S. Cities With the Biggest Increases in Homes for Sale
Source: Realtor.com --- Where are all the homes, anyway? Ever since the COVID-19 pandemic ignited a nationwide housing boom, wannabe buyers have been plagued by bone-dry home inventory levels in many markets—causing them to either wait on the sidelines for more...
JLL CEO Urges Patience for ‘Relatively Short’ Real Estate Industry Downturn
Source: CoStar --- JLL, the world's second-largest real estate brokerage by revenue, reported declines in leasing and capital markets in its latest earnings report as the industry prepares for what executives hope will be a rebound in deal activity later this year....
Real estate market hit by low inventory
Source: Antelope Valley Press --- LANCASTER — Limited inventory is hitting the residential and commercial real estate markets, while the changing economic landscape is having a greater impact on the residential market, forecasters said during Friday’s Antelope Valley...
Are All-Cash Buyers Dominating NYC Real Estate Market?
New real estate data and reporting recently revealed that nearly a third of U.S. homebuyers are sidestepping a mortgage and purchasing property via cash-only transactions, according to Redfin. This is a trend that is suddenly dominating big cities like Atlanta, Ga.,...
37,000 Acre Texas Ranch, owned by Oil Tycoon, Has Sold
Located in the northeast corner of the Texas Panhandle, Mesa Vista stretches for over 100 square miles and almost 37,000 acres along 25 miles of the Canadian River. The compound includes a five-bedroom family house, an 11,500-square-foot lake house with three...
INSIGHT: US housing market to hit demographic wall by 2030s
Source: ICIS --- CHARLOTTE, North Carolina (ICIS)–Demographics will weigh heavily on the long-term outlook for the US housing sector as a much smaller Gen Z population reaches prime home-buying age in the first half of the 2030s, according to an ICIS analysis. Housing...
