U.S. Housing Market
REMAX: Homes Sales Steady, But Taking Longer to Sell
The median sales price in July was $450,000, down 1.1% from June. Continue Reading REMAX: Homes Sales Steady, But Taking Longer to Sell
New Joint Venture to Develop Charlotte-Area Townhome Rental Community
The project is expected to be completed by August 2027. Continue Reading New Joint Venture to Develop Charlotte-Area Townhome Rental Community
Housing Starts Dropped in March
Single-family housing completions in March were at a rate of 1.029 million, up by 0.9% from the revised February rate of 1,020 million. Continue Reading Housing Starts Dropped in March
Average Property Tax on Single-Family Home Up 2.7% in 2024
The 10 states with the highest effective tax rates in 2024 were all in the Northeast and middle of the country. Continue Reading Average Property Tax on Single-Family Home Up 2.7% in 2024
Report: Homes Are Taking Longer to Sell
Active listings hit the highest level in five years in March via a 0.1% month-over-month uptick. Continue Reading Report: Homes Are Taking Longer to Sell
Volatility Continues as Lumber Prices Normalize
Source: NAHB --- The prices of building materials decreased 0.3% in November (not seasonally adjusted) following 0.5% and 0.1% declines in September and October, respectively, according to the latest Producer Price Index (PPI) report. The index has decreased five of...
Real Estate Data: Is Mortgage Demand Falling As Buyers Respond To High Interest Rates, Low Supply?
Source: Forbes --- Key takeaways Mortgage applications fell 1.9% from the previous week for the week ending on December 2, with many potential homebuyers likely waiting to see what the rate hike announcements will be like this week. Mortgage rates fell for the fourth...
Pandemic gains in American wealth are melting away
Source: Axios --- Low-interest rates giveth, high-interest rates taketh away. What happened: American households saw the third consecutive quarterly decline in net worth during Q3, as stocks were pummeled by rising interest rates. Why it matters: Household net worth —...
Fed hikes interest rate by smaller 0.5 percentage point to curb inflation. But it predicts higher peak rates.
Source:USA Today --- WASHINGTON – The Federal Reserve is going slower but aiming higher. The Fed agreed to raise its key short-term interest rate by half a percentage point Wednesday, dialing back from recent outsize hikes as it draws up an end game in its aggressive...
Is the U.S. Headed for a Housing Market Crash in 2023?
Source: Newsweek --- High mortgage rates, soaring inflation, rapid growth over the past couple of years and other factors have been at the center of recent discussions on the fate of the U.S. housing market. Though some experts—such as Barry Sternlicht, CEO of the...
What’s Going On With the Housing Market?
Source: Mansion Global --- Home sales have plunged. Buyers, facing the fastest-rising mortgage rates in decades, are scrapping their plans. And forecasters have rarely disagreed so much over where the market goes next. By many measures, the housing market entered a...
Mortgage rates drop after CPI report, but the housing market is far from out of the woods
Source: CNBC --- The average rate on the 30-year fixed mortgage dropped to 6.28% Tuesday, according to Mortgage News Daily. It is now at the lowest level since mid-September. The decline came after a lower-than-expected reading of the November’s consumer price index,...
‘The Worst Is Over’ for Mortgage Rates Despite Another Looming Fed Hike, Experts Say
Source: Next Advisor --- The Federal Reserve is going to raise interest rates this week, but that doesn’t mean mortgage rates are going up. Mortgage interest rates have been on a wild ride this year, climbing above 7% for several weeks in October and November....
Housing Market Downturn – Is A Recession On The Horizon?
Source: Forbes --- The second half of 2022 has seen declining house prices. However, prices remain up year-on-year based on steady price gains in the first half of the year. The decline in pricing is, in part, driven by higher mortgage rates hitting affordability of...
Despite cooling US housing market, Florida still top spot for Americans looking to move: study
Source: Fox Business --- Nearly 25% of U.S. homebuyers are looking to move out of their current metro areas, with many people turning their attention to cities in Florida as their next place to call home, according to a new study. "The U.S. housing market has cooled...
