U.S. Housing Market Updates
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NAR’s Chief Economist: ‘Housing Market Remains Very Difficult at the Moment’
“Mortgage rates are the magic bullet, and we’re waiting and waiting until those come down,” said Lawrence Yun. Continue Reading NAR’s Chief Economist: ‘Housing Market Remains Very Difficult at the Moment’
Utah’s Largest Mansion Goes Up for Auction This Week
The residence includes a dining room table that can seat up to 42 people and a home theater that can accommodate up to 62 movie lovers. Continue Reading Utah’s Largest Mansion Goes Up for Auction This Week
Additional Reading: MOST POPULAR U.S. HOUSING MARKET News & Headlines
January Foreclosure Activity Up 8% Month-Over-Month
Lenders started the foreclosure process on 20,994 properties in January. Continue Reading January Foreclosure Activity Up 8% Month-Over-Month
Mid-Atlantic Home Sales Up in January
As for the cost of housing, the region’s $390,000 median sold price marked a 5.4% year-over-year upswing. Continue Reading Mid-Atlantic Home Sales Up in January
Richmond American Homes of Arizona Debuts 2 New Communities
The communities, Seasons at Pradera III and The Preserve at Pradera, are both based in Goodyear, Arizona. Continue Reading Richmond American Homes of Arizona Debuts 2 New Communities
House prices might plunge 20% in the hottest US markets – and the slump could hammer the wider economy, top investor says
Source: Markets Insider --- House prices could plummet 20% in some US cities as soaring mortgage rates scare off buyers, Peter Boockvar has said. Bleakley Advisory's chief investor endorsed the Dallas Federal Reserve's grim forecast in a CNBC interview on Wednesday....
If you think it’s a bad time for mortgages, think again
Source: MPA Magazine --- Like so many others in the mortgage industry, Lamont Harris Jr (pictured), didn’t always think about working in real estate. In fact, he once harbored ambitions of becoming a professional actor after dropping out of college. “I went to...
Mortgage Rates Might Have Peaked, Experts Say. What That Means for You
Source: NextAdvisor --- Mortgage rates have doubled since the start of 2022, slamming the breaks on a superheated housing market. But is 7% as high as they’re going to go? Maybe. “We probably have seen peak mortgage rates unless there is some other major shock to the...
Will More Homes Hit the Real Estate Market in 2023?
Source: The Motley Fool --- There's a reason so many people have struggled to buy a home over the past two years. Since the latter part of 2020, the real estate market has sorely lacked inventory. And while housing supply has picked up to some degree in recent months,...
Home values are down, but home costs are up. Clearly, the housing market’s in flux
Source: Bankrate --- Home prices are up again. Only not as much. The national median price for an existing single-family home price stands at $398,500 — an 8.6 percent year-over-year increase, according to the National Association of Realtors’ (NAR)...
U.S. housing prices could plunge 20%, Dallas Fed warns
Source: CBS News --- America's home prices could plunge as much as 20% due to the sharp rise in mortgage rates in 2022, which are drastically increasing home ownership costs and "boost the odds of a severe house price correction," according to research from the...
Housing Market Predictions For The Next 5 Years. What Return Can You Expect?
Source: Forbes --- Key takeaways The housing market is a hot topic right now, and after experiencing rapid growth over the pandemic years it looks to now be slowing down. Experts are expecting real estate values to fall over the next 12 to 18 months, before they...
Evidence Builds For Painful Housing Recession
Source: Forbes --- Housing market sentiment is at lows we haven’t seen since the 1980s. Inventory metrics are moving in the wrong direction, and mortgage rates have risen back to levels from before the financial crisis. How bad will the housing market get? Falling...
What a housing market correction could mean
Source: The Hill --- The U.S. housing market could be heading toward a correction after more than two years of massive price growth that has more recently been offset by the Federal Reserve’s attempt to curb inflation by raising interest rates. The central bank’s...
Economic recession or not, the housing market recession is here
Source: firsttuesday Journal --- Earlier in 2022, an economic recession seemed inevitable by year’s end. Two consecutive quarters of negative gross domestic product (GDP) — typically the main indicator of a U.S. recession — along with the bear market experienced in...
