U.S. Housing Market Updates
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New Bill Would Eliminate Property Taxes for Maine’s Seniors
Property tax rates in Maine average 1.17%, above the national average of 0.9%. Continue Reading New Bill Would Eliminate Property Taxes for Maine’s Seniors
Report: More Millionaires Are Favoring Rental Housing Over Homeownership
Southern metro areas have seen the most significant growth in wealthy renters. Continue Reading Report: More Millionaires Are Favoring Rental Housing Over Homeownership
Additional Reading: MOST POPULAR U.S. HOUSING MARKET News & Headlines
Mortgage Rates in Further Decline
The 30-year fixed-rate mortgage averaged 6.87% as of Feb. 13. Continue Reading Mortgage Rates in Further Decline
Nevada Governor Seeks State Resolution Calling to Release Federal Land for Housing
“Projections indicate that Washoe County could run out of developable land by 2027,” said Gov. Lombardo. Continue Reading Nevada Governor Seeks State Resolution Calling to Release Federal Land for Housing
Report: Typical Homebuyer Pays Roughly 2% Less Than the List Price
The typical home that sells takes 56 days to go under contract, the longest span in nearly five years. Continue Reading Report: Typical Homebuyer Pays Roughly 2% Less Than the List Price
Morgan Stanley slashes its U.S. housing market outlook—here’s where it sees the home price correction going in 2023
Source: Yahoo! --- On a national basis, home prices fell 1.3% between June and August. That marked the first decline measured by the lagged Case-Shiller National Home Price Index since 2012. It's more than just a small dip, it's a trajectory shift. At least that's...
Housing Breaks People’s Brains
Source: The Atlantic --- Anyone who’s been in a dumb recurring fight knows that the entire problem could be cleared up if everyone could just agree on exactly what was said or done. But you can’t, so you end up stuck in a cycle of relitigation. Housing-policy...
High mortgage rates send homebuyers scrambling for relief
Source: KAGS TV --- LOS ANGELES — Mortgage rates are more than double what they were a year ago, so many homebuyers are looking for ways to put off some of the pain for a few years. The trend has driven adjustable-rate mortgages, or ARMs, to the highest usage in over...
Mortgage rates fall for the second week in a row
Source: CNN --- Mortgage rates dropped again this week, after plunging nearly half a percentage point last week. The 30-year fixed-rate mortgage averaged 6.58% in the week ending November 23, down from 6.61% the week before, according to Freddie Mac. A year ago, the...
Opinion: Homeowners should prepare for an ugly 2023, but it’s unlikely we’ll have a repeat of 2008
Source: CNN --- A much-feared correction in US home prices is underway. While this may feel like déjà vu, the drivers behind the recent spike in prices and the current housing market downturn are different from the ones seen in the 2000s. This time around, the US...
Where home prices are headed in 2023—this map shows CoreLogic’s revised outlook for 392 housing markets
Source: Yahoo! Finance --- When a buttoned-up Fed economist says the U.S. housing market has entered into a "difficult [housing correction"], it'd be wise to believe them. When it comes from the lips of Fed Chair Jerome Powell, it's more of a warning. Powell is right:...
What’s The Outlook For The Housing Market?
Source: Forbes --- Key Takeaways Housing sales have fallen for the ninth consecutive month, with transactions down 28.4% compared to this time last year. Average prices have also come down, hitting $379,100 compared to $413,800 in June. It comes as mortgage rates...
Why the US housing market slowed at sharpest pace ‘since the financial crisis’
Source: New York Post --- The US housing market experienced its most significant slump since the Great Recession in October as surging mortgage rates crushed demand, real estate firm Redfin said in a monthly report this week. The number of pending home sales...
The Housing Market is Worse Than You Think
Source: Advisor Perspectives --- Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. What I am about to share with you is an excerpt from a fall letter I wrote to IMA clients. It is...
The Short- and Long-Run Effects of Remote Work on U.S. Housing Markets
Source: Economic Innovations Group --- The rapid growth of remote work has ushered in a variety of economic changes, with notable impacts on the housing market. An emerging literature suggests remote work has shifted both where people live and how much housing they...
