U.S. Housing Market Updates
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Ohio Bill Would Cut Seniors’ Property Taxes by 50%, Regardless of Income
Property tax has become a hot-button issue in Ohio. Continue Reading Ohio Bill Would Cut Seniors’ Property Taxes by 50%, Regardless of Income
Home Vacancy Rate Holds Steady for 13th Straight Quarter
ATTOM’s analysis found 222,358 properties were in the foreclosure process during the second quarter. Continue Reading Home Vacancy Rate Holds Steady for 13th Straight Quarter
Additional Reading: MOST POPULAR U.S. HOUSING MARKET News & Headlines
State Farm Seeks 22% Emergency Interim Rate Hike in California
The California Insurance Commission said the request raised “serious questions about its financial condition.” Continue Reading State Farm Seeks 22% Emergency Interim Rate Hike in California
Ground Broken for 576-Unit Multifamily Community in Sacramento
The development is part of the larger Delta Shores master-planned community. Continue Reading Ground Broken for 576-Unit Multifamily Community in Sacramento
Study: Average Q4 Buyer’s Agent Commission Was 2.37%
The average buyer’s agent commission was 2.17% for homes that sold for $1 million or more. Continue Reading Study: Average Q4 Buyer’s Agent Commission Was 2.37%
Moody’s: Home prices to crash 20% in Nashville—here’s the revised forecast for the nation’s 322 largest housing markets
Source: Fortune --- The housing market downturn continues to pick up steam. This week, we learned that slumped home construction subtracted 1.37 percentage points from U.S. GDP in the third quarter. That’s the biggest housing contraction since 2007. Meanwhile,...
Fed Seen Aggressively Hiking to 5%, Triggering Global Recession
Source: Bloomberg --- Federal Reserve officials will maintain their resolutely hawkish stance next week, laying the groundwork for interest rates reaching 5% by March 2023, moves that seem likely to lead to a US and global recession, economists surveyed by Bloomberg...
Home prices are finally falling. But how low will they go?
Source: KSL News --- The US housing market is in the midst of a major shift. After two years of stratospheric price appreciation, home prices have peaked and are on their way back down. “Good news for home buyers, sellers are dropping their home prices” But what...
The US Housing Market was once hot as lava. Is it grinding to a halt?
Source: USA Today --- What once seemed like it was as hot as lava, the U.S. housing market now seems to be cooling down pretty quickly. But why? There seems to be enough people looking to buy homes right now with Millennials making up 43% of homebuyers, up 5% from...
Options available to offset higher mortgage rates
Source: Salem News --- American homeowners are feeling the pinch as the Federal Reserve continues to ratchet up interest rates to combat inflation. The average rate for a 30-year fixed rate mortgage rose above 6% this month for the first time since 2008, putting both...
‘Unhealthy and unsustainable’: Homebuyers aren’t buying and homebuilders aren’t building in the face of untamed mortgage rates
Source: MSN --- U.S. mortgage rates crept up once again this week as demand for home loans tumbled, according to a pair of widely followed reports. Buyers and sellers are increasingly on edge as the average 30-year fixed mortgage rate — now more than double what it...
Housing market: Existing home sales indicate the beginning of a correction
Source: Yahoo Finance --- BRIAN SOZZI: All right, from record home prices to record mortgage rates, 2022 has been a wild ride for the now ice-cold housing market. But could this pain be good for prospective homebuyers down the road? Yahoo! Finance Columnist Rick...
As the Housing Market Weakens… So Does the Economy?
Source: Advisor Perspectives --- With mortgage rates more than doubling from ~3% to over 7% today the difference in cost between buying a home twelve months ago compared to today is very big. Not only are existing home prices up 8.4% year-over-year, but the same...
Home prices are finally falling. But how low will they go?
Source: CNN --- The US housing market is in the midst of a major shift. After two years of stratospheric price appreciation, home prices have peaked and are on their way back down. But what homebuyers and homeowners alike want to know is: How much lower will prices...
Here are the people to know in commercial real estate for 2023
Source: AZ Big Media --- The 2023 edition of People & Projects to Know (PTK) in Commercial Real Estate is one of our most exciting and dynamic editions yet! Not only did the team at AZ Big Media receive an overwhelming number of nominations — for people and...
