U.S. Housing Market Updates
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US Housing Market Has Nearly $700 Billion in Listings, a Record High
This new record was achieved as the US housing supply soared 16.7% year-over-year to a five-year high. Continue Reading US Housing Market Has Nearly $700 Billion in Listings, a Record High
Report: New Apartments Sitting Vacant for Months
Nearly 125,000 new apartments were completed in the fourth quarter, the second highest number on record. Continue Reading Report: New Apartments Sitting Vacant for Months
Additional Reading: MOST POPULAR U.S. HOUSING MARKET News & Headlines
loanDepot and Onx Homes Announce New Joint Venture
The companies did not announce the leadership for Onx X+ Mortgage. Continue Reading loanDepot and Onx Homes Announce New Joint Venture
Mortgage Application Activity Heats Up
The refinance share of mortgage activity increased to 39.0% of total applications from 37.1% the previous week. Continue Reading Mortgage Application Activity Heats Up
Historic Virginia Estate Sells for $20 Million After 8 Years on the Market
The property was first listed for $33 million in March 2017. Continue Reading Historic Virginia Estate Sells for $20 Million After 8 Years on the Market
As House Prices Start To Moderate, How Bad Could It Get?
Source: Forbes --- There is no shortage of pessimism in the housing market today. U.S. house prices have declined since June. However, prices are generally up year-on-year, and the market is seasonal with prices and activity typically higher in the summer and lower in...
How the U.S. Housing Market Became Such a Dumpster Fire
Source: The Ringer --- Skyrocketing mortgage rates. Rent prices falling by their fastest pace in years (from their highest inflation rate in decades). Buyers and sellers are freaked out. What the hell is going on with American real estate? Today is a very special...
Mortgage Rates Rise Beyond 7% Barrier
Source: U.S. News --- Mortgage rates surged above the 7% threshold for the 30-year fixed mortgage term this week, according to Freddie Mac. This is the first time that average rates have entered 7% territory since early 2002. Interest rates also rose for the 15-year...
Why Mortgage Rates Could Hold Steady After the Federal Reserve’s 0.75% Rate Hike
Source: Time --- The Federal Reserve once again hiked its benchmark interest rate this week, a fourth consecutive increase of 75 basis points. What does that mean for mortgage rates, which are already above 7% for the first time in 20 years? Maybe not much. “What’s...
The Housing Market is Fragile: Downside as Real Estate Prices Fall
Source: Speculators Anonymous --- Many longtime readers know that I’ve been very critical of the housing market after the massive boom in real estate prices post-COVID. And as we learned from the underrated Austrian economist – Ludwig Von Mises – the bigger the...
5 Ways the Cooling Housing Market Is Helping Buyers
Source: The Motley Fool --- For the first time since March 2021, the average home is selling below the asking price. In fact, prices have fallen by 6% since June. As the market cools, home buyers savvy enough to hang in there may be the ones to benefit. If you're in...
Homebuilders say they’re on the edge of a steeper downturn as buyers pull back
Source: CNBC --- The once-hot housing market is cooling off at an alarming rate, and some homebuilders say it will only get worse come the new year as new orders dry up. Fast-rising mortgage rates have caused once-frenzied homebuyers to turn on their heels and become...
98 Of The 100 Largest Housing Markets Saw Prices Nosedive In September From 2022 Peaks
Source: Forbes --- The housing market is rebalancing after the most competitive and frenetic period in recent memory. The cooling trend that is engulfing the market is expected to continue with more cities seeing home prices decline by this time next year as the shift...
Home prices are falling faster now than in 2006—Redfin’s CEO just revealed why
Source: Fortune --- The Pandemic Housing Boom unleashed an “investor mania” unlike anything seen in the U.S. housing market since the aughts housing bubble. Average Joes poured into the market in hopes of building Airbnb empires. Institutional investors,...
The Fed approves three-quarter-point rate hike
November 02, 2022 Federal Reserve issues FOMC statement -The Committee decided to raise the target range for the federal funds rate to 3-3/4 to 4 percent.- Press Release Recent indicators point to modest growth in spending and production. Job gains have been robust in...
