U.S. Housing Market Updates
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Report: Typical Down Payment Level Down for First Time in Nearly 2 Years
Redfin attributed the drop in down payment levels to a slightly higher share of homebuyers using FHA and VA loans, which require lower down payments. Continue Reading Report: Typical Down Payment Level Down for First Time in Nearly 2 Years
Lizzo Makes Second Price Cut to Listing on Her Beverly Hills Estate
Lizzo acquired the 0.32-acre property from singer Harry Styles in 2022 for $15 million. Continue Reading Lizzo Makes Second Price Cut to Listing on Her Beverly Hills Estate
Additional Reading: MOST POPULAR U.S. HOUSING MARKET News & Headlines
NAR’s Pending Home Sales Index Sinks to All-Time Low
The Pending Home Sales Index tumbled by 4.6% to 70.6, an all-time low. Continue Reading NAR’s Pending Home Sales Index Sinks to All-Time Low
Carter Multifamily Pays $37.7 Million for Community in Florida’s Space Coast
The property was formerly known as The Palm Bay Grand and will be rebranded to Mode at Melbourne. Continue Reading Carter Multifamily Pays $37.7 Million for Community in Florida’s Space Coast
Q4 Lending Down While Refinance Activity Rises
Lenders issued $568 billion worth of residential mortgages in the fourth quarter. Continue Reading Q4 Lending Down While Refinance Activity Rises
What will U.S. house prices look like in 2023?
Source: The Week --- Amid peaking prices due to inflation and murmurs of an upcoming recession, you might be wondering: What's up with the housing market for 2023? Mortgage rates started to decline in the final weeks of 2022, and demand for housing is similarly...
Good news for homebuyers: The housing market is showing signs of ‘normalizing’
Source: Market Watch --- The housing market is showing signs of ‘normalizing,’ according to a new report. The latest monthly report by Realtor.com, which tracks the housing market as of December, said that the number of home listings were growing and were also...
When Will Housing Prices Drop?
Source: US News --- For just about any homeowner, talk of falling housing prices can spark panic. With homeownership being the major financial and personal investment it is, there's a natural anxiety that comes with any potential threat to that investment....
The U.S. Housing Market, Part 2: Looking Ahead To 2023
Source: Seeking Alpha --- Summary The main determinants of housing demand in the short run are the level and direction of mortgage rates and the strength of the job market. Homebuilders have responded to the drop in new home sales by reducing housing starts, and this...
Real Estate Trends: Increasing Interest Rates Continue To Drive Down Mortgage Demand
Source: Forbes --- Key takeaways Mortgage demand for purchases is down 41% year-over-year, and refinance demand is down 84% year-over-year. Housing prices are higher than a year ago, and experts believe they will continue to climb overall, with some areas seeing price...
US housing market funk has lumber traders expecting rally to fizzle
Source: The Business Times --- THE chill in North America’s housing market has lumber traders saying the commodity’s recent rally may not have much more room to run. Benchmark futures in Chicago rose as much as 6.1 per cent to US$418.80 per 1,000 board feet on...
The uneasy US housing stalemate
Source: Financial Times --- Spare a thought for the American first-time homebuyer, for whom things have rarely looked so grim. US home prices rose 40 per cent during the pandemic. Mortgage rates haven’t been this high in 15 years. Wages are higher, but not nearly...
High and dry in Manhattan: buyers and sellers in housing market stand-off
Source: Financial Times --- Charlotte, who is in her late sixties and impatient to move to Florida, has cut the price of her two-bedroom Upper East Side apartment by a fifth, to $2mn. After three months without a suitable offer, Amy Schwab Owens gave up trying to sell...
First American cites 2023 housing market optimism
Source: The Title Report --- First American Financial Corp. released its Potential Home Sales Model for November 2022, measuring what the healthy market level of home sales should be based on economic, demographic, and housing market fundamentals. Data pointed to...
US housing price slowdown continues as mortgage financing poses headwind
Source: S&P Global --- U.S. home prices rose 9.2% year over year in October 2022, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. Despite the annual rise in home prices during the month, the price hike was still weaker compared...
