U.S. Housing Market Updates
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Home Sales and Prices Down in Florida
The statewide median sales price for single-family existing homes last month was $412,734, down 4% from the previous year. Continue Reading Home Sales and Prices Down in Florida
Report: Connecticut’s Severe Housing Shortage Was a Long Time in the Making
The state’s price increases of 63.7% over the past five years outpaced the national average of 55.5%. Continue Reading Report: Connecticut’s Severe Housing Shortage Was a Long Time in the Making
Additional Reading: MOST POPULAR U.S. HOUSING MARKET News & Headlines
Richmond American Homes Completes Purchase of Florida Property for New Community
The financial aspects of the site purchase were not disclosed. Continue Reading Richmond American Homes Completes Purchase of Florida Property for New Community
Building America’s Future: How Trump’s Housing Agenda Can Revitalize the American Dream
Publisher John G. Stevens forecasts what housing policy could become under the Trump administration. Continue Reading Building America’s Future: How Trump’s Housing Agenda Can Revitalize the American Dream
New Mexico MLS to Require Floor Plans in All Property Listings
this is a standard feature in other countries including the UK, Australia and Sweden. Continue Reading New Mexico MLS to Require Floor Plans in All Property Listings
A ‘buyers’ market’ for homes is still elusive in the US
Source: Financial Times --- The US housing market is cooling faster than expected, as supply-chain issues continue to bite in that sector, according to Goldman Sachs. The bank expects US home-price increases to decelerate through the rest of this year and then...
Eyeing a New Home? Experts Say You Should Budget for These Costs Even as Housing Prices Begin To Drop
Source: GO Banking Rates --- Home prices in the United States continue to drop amid a slowdown in demand tied partly to rising mortgage rates, but homes are still less affordable now than at any time in the past 30 years. For potential buyers, it means paying close...
Texas Dominates Top U.S. Housing Markets: Study | Tacoma News Tribune
Source: UWGB --- To rank local real estate markets, WalletHub measured housing-market attractiveness and economic strength. With mortgage rates and home prices still way above pre-pandemic levels, despite moderating in recent months, prospective home buyers are having...
The U.S. housing market downturn will be worse in 2023, forecasts Goldman Sachs
Source: Fortune --- The U.S. entered into its first housing downturn of the post–Great Financial Crisis era. And the worst still awaits. On Tuesday, researchers at Goldman Sachs released a paper titled “The Housing Downturn: Further to Fall.” The investment bank now...
Mortgage Rates Rise to 5.66%, Weighing on Housing Market
Source: US News --- WASHINGTON (AP) — Average long-term U.S. mortgage rates rose to their highest level in two months this week, providing no relief for a slumping housing market. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate rose to 5.66% from...
Fed seen sticking to interest rate hikes even as unemployment rises
Source: Reuters --- The Federal Reserve is seen sticking to sharp interest rate hikes in coming months to cool inflation, but rising U.S. unemployment and a slowdown in wage growth has traders betting that borrowing costs next year may not end up quite as high as...
One in five home sellers is now dropping their asking price as the housing market cools
Source: CNBC --- Home sellers are getting nervous, as the once hot housing market cools fast. One in five sellers in August dropped their asking price, according to Realtor.com. A year ago that share was just 11%. The average home sold for less than its list price...
White House Gives Fed Some Cover on Rates After Warren Critique
Source: Bloomberg --- The White House is giving the Federal Reserve leeway to raise interest rates to tame inflation, a day after Democratic Senator Elizabeth Warren warned the central bank’s actions could tip the US economy into a recession. “We don’t want to step on...
Bank of America aims mortgages, CRE loans at women and minorities
Source: American Banker --- Two new Bank of America lending programs seek to promote homeownership among minority borrowers as well as incentivize economic development in disadvantaged communities. One is a pilot program that would offer mortgages to Black and...
Home prices are falling in 6 major US cities and still rising in 13. Here’s how the major markets are faring as buyers adjust to the end of the boom
Source: Business Insider --- The red-hot housing market has fizzled out — and that means home prices are finally cooling down. Over the past few years, intense buyer competition has elevated home prices throughout the US but as affordability wanes, demand is fading...
