U.S. Housing Market
Existing Home Sales Up 2%
The $422,400 median existing-home price for all housing types last month was up by 0.2% from the $421,400 price set one year ago, Continue Reading Existing Home Sales Up 2%
15% of Home Purchase Agreements Fell Through in July
San Antonio led the nation with 730 aborted home-purchase agreements in July, equal to 22.7% of homes that went under contract last month. Continue Reading 15% of Home Purchase Agreements Fell Through in July
Hits and Misses for the Real Estate Week of April 14-18
Letitia James accused of mortgage fraud, the Sun Belt loses its charm, and a tribute to a lodging sector leader. Continue Reading Hits and Misses for the Real Estate Week of April 14-18
New Home Purchase Mortgage Applications Surged in March
The average loan size for new homes decreased from $397,516 in February to $381,921 in March. Continue Reading New Home Purchase Mortgage Applications Surged in March
Master-Planned Community with Surfing Lagoons Planned for Utah
The 30-acre project will feature 65 short-term rental properties built around two concrete-lined, clear lagoons designed specifically for surfing and other water recreation. Continue Reading Master-Planned Community with Surfing Lagoons Planned for Utah
Experts Predict What The Housing Market Will Look Like In 2023
Source: Forbes --- The housing market is sending clearer signals that historically low mortgage rates and the home-buying frenzy have come to an end. As we near the end of 2022, here’s a look at the expectations of real estate experts for 2023. Danielle...
Housing Market Recession: Home Builder Sentiment Tanked Every Month This Year—But There’s Finally A ‘Silver Lining’
Source: Forbes --- Home builder confidence plunged every single month this year as higher interest rates weakened demand in the formerly booming housing market, the National Association of Home Builders reported Monday, but with the Federal Reserve finally starting to...
U.S. home builder gloom persists, but some hope seen for next year
Source: Reuters --- Dec 19 (Reuters) - Confidence among U.S. single-family home builders fell for a record 12th straight month in December as even a scramble to offer incentives for prospective buyers failed to boost traffic and lift sales in today's high-inflation,...
Bank of America CEO Issues Dire Warning for Housing Market: Prepare for 2 More Years of Pain
Source: The Ascent --- It's been a really tough go for prospective home buyers since mid-2020. For the past two years and change, the real estate market has sorely lacked inventory. That's driven home prices upward and forced buyers into countless bidding wars. This...
Home Prices Could Fall 20%. Here’s Why That Doesn’t Necessarily Make Them Affordable
Source: The Ascent --- It's been a wild couple of years for the housing market, from price increases due to a lack of housing supply and skyrocketing demand, to this year's mortgage rate spike. New data from the Dallas Fed suggests that we could be facing a housing...
After the most recent Fed rate hike, where are mortgage rates headed?
Source: KCRA News --- WASHINGTON — The Federal Reserve hiked its benchmark lending rate this week for the seventh time this year, capping a year of intense pressure on the housing market that pushed mortgage rates above 7% for the first time since 2002. But now that...
15 Countries With Highest Interest Rates
Source: Yahoo Finance --- In this piece, we will take a look at the 15 countries with the highest inflation rates. For more countries, head on over to 5 Countries With Highest Interest Rates. The Federal Reserve launched a spree of rate hikes in 2022 amid record...
‘A welcome development’: As mortgage rates decline for a fifth week, experts say the market has tipped ‘a bit further in favor of buyers’ despite continued ‘affordability hurdles’
Source: Yahoo! --- Mortgage rates continued to weaken for the fifth week in a row, after the Fed announced its seventh rate hike of the year. Sam Khater, Freddie Mac’s chief economist, points to “softer inflation data and a modest shift in the Federal Reserve’s...
‘Supply problem’ is keeping housing unaffordable, expert says
Source: Yahoo! Money --- While many forecasts point to home prices declining next year amid slowing home sales, housing will remain unaffordable for many homebuyers, according to one expert. "We have a supply problem with housing," Marc Norman, associate dean at the...
After this week’s Fed rate hike, where are mortgage rates headed?
Source: CNN Business --- Washington, DCCNN — The Federal Reserve hiked its benchmark lending rate this week for the seventh time this year, capping a year of intense pressure on the housing market that pushed mortgage rates above 7% for the first time since 2002. But...
