U.S. Housing Market Updates
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Illinois Home Sales Down as Prices Continue to Rise
The state’s median sales price took a 5% year-over-year rise to $315,000. Continue Reading Illinois Home Sales Down as Prices Continue to Rise
Report: 6% of Sellers Risk Offloading Their Homes Below the Purchase Price
“The longer someone has owned their home, the more likely they are to come out ahead,” said Redfin Senior Economist Asad Khan. Continue Reading Report: 6% of Sellers Risk Offloading Their Homes Below the Purchase Price
Additional Reading: MOST POPULAR U.S. HOUSING MARKET News & Headlines
California Gives Provisional Approval for State Farm’s 22% Rate Hike
State Farm is California’s largest home insurer, with more than 1 million customers. Continue Reading California Gives Provisional Approval for State Farm’s 22% Rate Hike
Manhattan’s Median Apartment Rent at $4,500 in February
Last month’s figure broke the earlier record of $4,400 set in August 2023. Continue Reading Manhattan’s Median Apartment Rent at $4,500 in February
Watermark Companies’ New Rental Home Community in Texas is Now Leasing
Canvas at Midlothian encompasses 201 two-, three- and four-bedroom single-family homes and townhomes. Continue Reading Watermark Companies’ New Rental Home Community in Texas is Now Leasing
U.S. Homebuyers Start To Regain Upper Hand in 2023
Source: Investopedia --- Chris Donoso and Yefry Rodriguez's year-long search for their home, a two-family property in Jersey City, N.J., took more than a little patience—and a motivated seller who cut the price by $10,000. "We got very lucky,'' said Donoso, a speech...
‘Home sales are bottoming out’: Are homebuyers now calling the shots in 2023 housing market?
Source: USA Today --- Buyers might finally be calling the shots in 2023, as housing inventory while still low, has started to climb up. Existing-home sales fell for the twelfth straight month in January, with year-over-year sales falling 37%, the biggest decline since...
Zombie Foreclosures continue to increase across the nation
ATTOM, a curator of land, property, and real estate data, released its first-quarter 2023 Vacant Property and Zombie Foreclosure Report showing that 1.3 million (1,284,048) residential properties in the United States sit vacant. That figure represents 1.3 percent, or...
California REALTORS® support move by HUD and FHA, states that it will provide greater homeownership opportunities
The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) issued the following statement in response to the Housing and Urban Development's (HUD) announcement to reduce the annual mortgage insurance premium on Federal Housing Administration (FHA) insured loans. ...
New Home Pending Sales Dip 5.8% But the Spring Selling Season Signals Sales
Zonda, an advisor in the housing industry, released the New Home Market Update report for January 2023. So far, most builders report a stronger than expected start to the year. There are pockets of outperformance where some communities are exceeding sales seen...
Curbio Launches Mobile App, Promises to Provide Pre-Listing Home Improvement Estimates.
Curbio, Inc., a pay-at-closing home improvement tool for the real estate industry, announced the launch of its new mobile app. The app allows real estate agents and home sellers to get estimates for pre-listing home improvement costs and projected ROI. Agents and...
HUD Announces 30bps decrease in Mortgage Insurance Premium (MIP) for FHA Loans
The U.S. Department of Housing & Urban Development (HUD), through the Federal Housing Administration (FHA), has announced a 30-basis-point reduction to the annual mortgage insurance premiums (annual MIP) charged to homebuyers who obtain an FHA-insured mortgage....
USA – Housing Market Overvalued Due to Unpriced Flood Risks, Says Study
Source: FloodList --- A recent study has found that the housing market in the USA is overvalued by as much as $237 billion due to unpriced flood risk. The increasing cost of flooding under climate change has led to growing concerns that housing markets are mispricing...
Redfin and Zillow Group financial reports reveal broader housing market trends
Source: GeekWire --- The latest financial reports from Zillow Group and Redfin demonstrate ongoing wariness within the U.S. real estate market. Both companies expect revenue from key business segments to decline year-over-year in the first quarter. Zillow forecasts...
The Great Slowdown: These Are the U.S. Cities Where Home Sales Are Down the Most
Source: Realtor.com --- If the housing market of just a year ago still seemed to be moving at quantum speed, today it’s more akin to an interminable traffic jam—with no exit ramps or HOV lanes in sight. As higher mortgage rates have made buying a home ever more...
