U.S. Housing Market Updates
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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
New York State Records 6.2% Drop in Home Sales
The state’s median price of homes increased for the 21st straight month. Continue Reading New York State Records 6.2% Drop in Home Sales
Additional Reading: MOST POPULAR U.S. HOUSING MARKET News & Headlines
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
California Home Sales Up Nearly 20% Year-Over-Year
The December statewide median price of $861,020 was up by 1% from November’s price of $852,880. Continue Reading California Home Sales Up Nearly 20% Year-Over-Year
Clear Investment Group Acquires DC-Based Multifamily Complex
The financial terms of the acquisition were not disclosed. Continue Reading Clear Investment Group Acquires DC-Based Multifamily Complex
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...
Everyone pays the cost as the rich keep spending
Source: Financial Times --- Inflation isn’t new, but price rises can still shock. I recently holidayed in the Hamptons, a tony beach area outside New York, where I was stunned to pay $800 for a single shopping cart of groceries. This wasn’t at some foodie emporium,...
Home sale cancellations rise in ‘remarkably uncertain time’ for market: Redfin CEO
Source: New York Post --- The US housing market is in the midst of a significant pullback, with cooling conditions that have contributed to a spike in home sale cancellation rates, according to the top boss at real estate firm RedFin. RedFin CEO Glenn Kelman noted...
The Real Impact Of A Housing Market Recession
Source: Forbes --- Key Takeaways: A housing market recession occurs when home sales decline for six months straight, which officially happened in July 2022. Two main forces are driving the housing market recession: increasing interest rates and increasing construction...
What does ‘housing recession’ even mean? Economists don’t really know
Source: Inman --- The phrase “housing recession” has exploded in popularity, according to an analysis of search terms. But pinning down what it means and where it originated is surprisingly difficult, experts told Inman.
Real estate: A looming end to the long boom
Source: The Week --- The "booming housing market is stalling out," said David Harrison and Nicole Friedman in The Wall Street Journal. Trapped between near-record prices and soaring mortgage rates, buyers are pulling back. In July, figures released last week show,...
US home price growth ‘to stall completely,’ Goldman warns
Source: New York Post --- The US housing market still has “further to fall” in a recent downturn that has sparked fears of a recession, Goldman Sachs analysts warned in a note to clients on Tuesday. The bank’s analysts expect home price growth in the once-booming...
Bankers’ Hours column: Changes coming to the housing market
Source: Post Independent --- This is an issue we revisit periodically, because everybody else does. The question is regularly raised, “With stratospherically spiking home prices, and so called ‘Non-QM (Nonqualifying mortgages, meaning not conforming to Fannie Mae or...
Want to Sell Your Home Quickly? Follow These 5 Dave Ramsey Tips
Source: The Motley Fool --- There was a point last year (and even during the first part of 2022) where all you had to do to sell a home quickly was get a listing up. For months, the housing market lacked inventory in a serious way, and that led to a period of homes...
Revised: Odds of falling home prices in your local housing market, as told by one interactive map
Source: Fortune --- Back in June, Fed Chair Jerome Powell made it clear to reporters: The Pandemic Housing Boom was over. Heading forward, he said, spiked mortgage rates would push the U.S. housing market into a slowdown. “We saw [home] prices moving up very very...
