U.S. Housing Market
Home Affordability in Q4 Remained Mostly Elusive
ATTOM added the median sales price of a home has risen 54% over the past five years while typical wages only increased by 29%. Continue Reading Home Affordability in Q4 Remained Mostly Elusive
Mortgage Credit Availability Declined in December
“The December decrease reversed gains from the prior two months,” said MBA’s Joel Kan. Continue Reading Mortgage Credit Availability Declined in December
Virginia Home Sales Up 2.4%
The statewide median sales price in July was $435,000, a $9,000 increase for a 2.1% year-over-year bump-up. Continue Reading Virginia Home Sales Up 2.4%
New York State Median Home Sale Price Breaks Record High
Closed sales were down from 10,286 homes last year to 10,046 last month, a 2.3% decline. Continue Reading New York State Median Home Sale Price Breaks Record High
Florida Home Sales and Prices Down for July
The statewide median sales price for single-family existing homes in July was $410,000, down 1.7% compared to one year before. Continue Reading Florida Home Sales and Prices Down for July
Utah Governor Considers Support of SB 271- Second Home Co-Ownership Bill
Pacaso, a real estate platform that helps people buy and co-own a luxury second home, celebrates a monumental moment for co-ownership with the passage of Utah SB 271. The passage of the bill, sponsored by Sen. Michael McKell and Rep. Val Peterson, means the...
Unpriced climate risk and the potential consequences of overvaluation in US housing markets
Source: Nature Climate Change --- Abstract Climate change impacts threaten the stability of the US housing market. In response to growing concerns that increasing costs of flooding are not fully captured in property values, we quantify the magnitude of unpriced flood...
US home prices just did something they haven’t done since 2012
Source: New York Post --- US home prices in February posted their first year-over-year decline in more than a decade as surging mortgage rates put the squeeze on the market. The average US home sold for $350,246 for the four weeks ending on Feb. 26, according to an...
Vast majority of U.S. homes are unaffordable to the average buyer
Source: CBS News --- The cost of buying a home is drifting further out of financial reach for the average American, according to a report from Redfin. The real estate website analyzed homes that went on sale last year and found that only 21% of them were affordable,...
The four U.S. housing markets being impacted the most by oversupply
Source: Yahoo! News --- Yahoo Finance reporter Dani Romero joins the Live show with the latest on the U.S. housing market and details on which markets are being most impacted by oversupply. Video Transcript SEANA SMITH: Potential homebuyers are getting squeezed by...
The Housing Market Just Hit Its Most Grim Milestone Yet
Source: The Street --- Over the last year, many people interested in a move or a home bought as an investment have scrolled online listings only to find that there's nothing affordable on the market. U.S. home prices rose by 32% in the last three years while homes...
Redfin Reports Half as Many Affordable Homes for Sale in 2022 as in 2021
Roughly one in five (21%) U.S. homes for sale in 2022 was affordable for the typical household, according to a new report from Redfin, the technology-powered real estate brokerage. That’s down from two in five (40%) in 2021 and the lowest share on record. A...
Prevu Takes its Homebuying Plaftorm to 10th Major Metro Market
Prevu, a real estate technology company, announced that its digital homebuying platform is now available in South Florida - including cities like Miami, Fort Lauderdale, Boca Raton, and West Palm Beach. With Prevu’s entrance into the market, consumers in the region...
Housing Market Update: Home Prices Fall Annually For First Time In A Decade As Mortgage Rates Pass 7%
Source: Redfin --- The median U.S. home-sale price declined 0.6% year over year in February, marking the first annual drop since 2012–but high rates mean homes aren’t more affordable. The milestone comes as daily average mortgage rates hit 7.1%, dampening homebuying...
US home prices could plunge 20% amid risk of ‘deep’ housing slide, Fed economist warns
Source: Fox Business --- U.S. home prices could tumble as much as 20% as the highest mortgage rates in two decades threaten to trigger a "deep global housing slide," according to research from the Federal Reserve Bank of Dallas. The global housing market has become...
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