U.S. Housing Market
Connecticut Cities Increase Fines Against Landlords with Blighted Properties
New Haven and Waterbury are fighting blight in their neighborhoods. Continue Reading Connecticut Cities Increase Fines Against Landlords with Blighted Properties
Kanye West’s Unfinished Malibu Beach House Back on the Market at Reduced Price
West purchased the property in 2021 for $57 million but left unfinished after a highly publicized but ill-fated renovation project. Continue Reading Kanye West’s Unfinished Malibu Beach House Back on the Market at Reduced Price
Foreclosure Activity Up During Q1
Lenders repossessed 9,691 properties through foreclosure (REO) in first quarter. Continue Reading Foreclosure Activity Up During Q1
Washington State Lawmakers Consider Bill to Raise Property Tax Cap
“Without a doubt, if this property tax goes into effect, many will be forced to foreclose on their homes,” said the Washington State Republican Party. Continue Reading Washington State Lawmakers Consider Bill to Raise Property Tax Cap
Survey: 44% of Sellers Would Work with Agent That Has a Violent Criminal Record
The survey found 51% of sellers would work with agents who refuse to provide references. Continue Reading Survey: 44% of Sellers Would Work with Agent That Has a Violent Criminal Record
Will More Homes Hit the Real Estate Market in 2023?
Source: The Motley Fool --- There's a reason so many people have struggled to buy a home over the past two years. Since the latter part of 2020, the real estate market has sorely lacked inventory. And while housing supply has picked up to some degree in recent months,...
Home values are down, but home costs are up. Clearly, the housing market’s in flux
Source: Bankrate --- Home prices are up again. Only not as much. The national median price for an existing single-family home price stands at $398,500 — an 8.6 percent year-over-year increase, according to the National Association of Realtors’ (NAR)...
U.S. housing prices could plunge 20%, Dallas Fed warns
Source: CBS News --- America's home prices could plunge as much as 20% due to the sharp rise in mortgage rates in 2022, which are drastically increasing home ownership costs and "boost the odds of a severe house price correction," according to research from the...
Housing Market Predictions For The Next 5 Years. What Return Can You Expect?
Source: Forbes --- Key takeaways The housing market is a hot topic right now, and after experiencing rapid growth over the pandemic years it looks to now be slowing down. Experts are expecting real estate values to fall over the next 12 to 18 months, before they...
Evidence Builds For Painful Housing Recession
Source: Forbes --- Housing market sentiment is at lows we haven’t seen since the 1980s. Inventory metrics are moving in the wrong direction, and mortgage rates have risen back to levels from before the financial crisis. How bad will the housing market get? Falling...
What a housing market correction could mean
Source: The Hill --- The U.S. housing market could be heading toward a correction after more than two years of massive price growth that has more recently been offset by the Federal Reserve’s attempt to curb inflation by raising interest rates. The central bank’s...
Economic recession or not, the housing market recession is here
Source: firsttuesday Journal --- Earlier in 2022, an economic recession seemed inevitable by year’s end. Two consecutive quarters of negative gross domestic product (GDP) — typically the main indicator of a U.S. recession — along with the bear market experienced in...
Mortgage lenders expect the housing market to worsen in 2023
Source: firsttuesday Journal --- Following record lender profits in 2021, 2022 has mortgage lenders packing their bags and heading for the exits. The Mortgage Bankers Association (MBA) believes the U.S. will enter a recession in the first half of 2023. The MBA expects...
US home prices falling 15% looks “conservative”: KPMG
Source: The Real Deal --- An economist is predicting home prices could decline much more than anticipated as the housing bubble begins to pop. A 15 percent drop in home prices for next year is “very conservative,” KPMG chief economist Diane Swonk told Fortune. Swonk’s...
‘No One Wants To Catch a Falling Knife’: What To Expect in the Housing Market for the Rest of 2022
Source: Realtor.com --- What a difference just a few months can make. As the year comes to a close, the red-hot housing market has been brought to its knees by soaring mortgage interest rates. It now appears to be in a standoff as just about everyone suddenly feels...
