U.S. Housing Market Updates
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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
Mortgage Rates Inch Up
The 30-year fixed-rate mortgage averaged 6.86% as of May 22, up from last week when it averaged 6.81%. Continue Reading Mortgage Rates Inch Up
Additional Reading: MOST POPULAR U.S. HOUSING MARKET News & Headlines
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 Alone’ House Sells for $5.5 Million
The house last changed hands in 2012 for $1.58 million. Continue Reading ‘Home Alone’ House Sells for $5.5 Million
Single-Family Housing Starts Up in December
For the full year of 2024, an estimated 1.36 million housing starts were recorded in 2024. Continue Reading Single-Family Housing Starts Up in December
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...
Why I’m Not Worried About a Housing Market Crash
Source: Nasdaq --- Are we going to see a housing bubble? According to new guidance from credit reporting agency Fitch, we may. In a recent release, Fitch analysts stated that the probability of a "severe downturn" in the U.S. housing market is on the rise. Home prices...
Small businesses feel the pinch from a slowing US housing market
Source: Anchorage Daily News --- NEW YORK — The chill in the housing market is rippling out to the carpenters, landscapers and other small businesses that lose out when fewer homeowners are renovating their properties. Inflation was already causing some homeowners to...
Mortgage rates will fall to 4.5% in 2023? That’s the estimate from Fannie Mae. Here’s what that means for homebuyers
Source: CNBC --- Mortgage rates are projected to decline next year — but that doesn’t mean prospective homebuyers should necessarily delay a purchase for the prospect of lower financing costs. The rate on a 30-year fixed mortgage will fall to an average 4.5% in 2023,...
Playing Jenga With The U.S. Housing Market – Like In 2008?
Source: Seeking Alpha --- Thesis In 2008 the housing market crashed the global economy. Could it happen again? And how soon? While I don’t want to play the role of Mr. Doom, in this article I would like to highlight a few notable developments that could prove to turn...
Respected analyst predicts ‘overvalued’ San Francisco Bay Area home prices may drop
Source: SF Gate --- A respected analyst is issuing a warning for the San Francisco Bay Area: Homes are overvalued, especially in this cooling real estate market. Mark Zandi, the chief economist at the venerated firm Moody’s Analytics, told Fortune in a report...
Should You Wait for Real Estate Prices to Crash Before Buying a Home?
Source: Realty Biz News --- Many people remember the financial and housing crises of 2007 and 2008. That’s when the overheated housing market didn’t just slow down but instead went into a tailspin with millions of home prices dropping below the amount of the mortgage....
Report: Home Prices Could Dip in 183 Markets
Source: Newsmax --- Home prices could fall in 183 ''overvalued'' markets if the housing recession continues, according to data mapped out from Moody's Analytics. The map shows that 183 of the 413 top housing markets are ''overvalued'' by more than 25%, which some...
Big chill: US homebuying cooldown is intensifying
Source: The Orange County Register --- The nation’s homebuying slowdown is intensifying. The National Association of Realtors’ index of contract signings to purchase previously owned homes decreased 1% from a month earlier to 89.8. That followed a nearly 9% decline in...
The industries most at risk of a new economic downturn
Source: Washington Examiner --- For months, economists, academics, and elected officials have argued about whether the United States is in a recession. The "yes" camp points to negative gross domestic product growth in the first two quarters of 2022, meeting the...
