U.S. Housing Market
Mortgage Rates at 10-Month Low
“Purchase application activity is improving as borrowers take advantage of the decline in mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. Continue Reading Mortgage Rates at 10-Month Low
Foreign Purchases of Texas Residential Properties Up 9% Year-Over-Year
Most of the international buyers of Texas houses came from Mexico (30%), followed by Canada and China (each at 8%), India (7%), and Nigeria (6%). T Continue Reading Foreign Purchases of Texas Residential Properties Up 9% Year-Over-Year
Report: $603 Billion Spent on Home Remodeling Projects in 2024
Most consumers (89%) reported housing affordability was not a deciding factor in their decisions to remodel. Continue Reading Report: $603 Billion Spent on Home Remodeling Projects in 2024
Mortgage Application Activity Surges by 20%
The Refinance Index increased 35% from the previous week – the highest level in six months. Continue Reading Mortgage Application Activity Surges by 20%
Northeast Housing Markets Lead Nation for Down Payment Increases
Delaware led the nation in 2024 with a 38.6% rise in median down payments Continue Reading Northeast Housing Markets Lead Nation for Down Payment Increases
Here’s why it may take a while for housing inflation to cool off
Source: CNBC --- There are signs inflation may fall further in coming months, but housing threatens to mute any improvement. The consumer price index, a key barometer of inflation, rose 7.7% in October from a year ago. While still quite high by historical standards,...
Dallas Housing Market Will Surge in 2024, Says NAHB Economist Rob Dietz at Home Builders Summit
Source: Candy's Dirt --- The country is already in the midst of a “mild recession,” but local job growth is outstanding and inflation has peaked, an economist told Dallas builders last week. National Association of Home Builders Chief Economist Rob Dietz emphasized...
Here’s why Home Depot and Lowe’s are booming in a housing market bust
Source: CNBC--- As the U.S. housing market falls hard from its pandemic-driven highs, home improvement retailers like Home Depot and Lowe’s don’t seem to be feeling the same pain. In fact, they’re faring better than expected. While homebuilding and home remodeling are...
KPMG: The Pandemic Housing Bubble is bursting—U.S. home prices falling 15% looks ‘conservative’
Source: Yahoo! Finance --- It didn't take long for white-collar professionals in 2020 to realize that expanded work-from-home policies meant they could buy real estate pretty much anywhere. Vacation markets went gangbusters. Exurbs got red-hot, as did so-called Zoom...
The Latest Inflation Numbers Are Good News for Mortgage Rates
Source: Money --- Hope for relief from rapidly rising mortgage rates was revived this week when October inflation numbers came in lower than expected. Consumer prices continued to increase last month but at a slower pace than at any other point this year. The latest...
It’s a terrible time to buy a house. Here’s what to know if you have to do it anyway
Source: CNN Business --- There is no sugarcoating it: This is a terrible time to buy a home. Mortgage rates for a 30-year fixed rate loan are now hovering above 7%, more than 4 percentage points higher than a year ago. That has slashed a typical buyer’s purchasing...
Eagle County Real Estate Market Report: Reason for optimism in uncertain times
Source: Vail Daily --- Media headlines are generating uncertainty around the local and national housing market, and lower inventory coupled with higher inflation and interest rates have created a pause in the residential real estate market. Depending on whom you...
Q&A: What Data Tells Us About Rural Housing Cost Burdens
Source: The Daily Yonder --- Lance George is the Housing Assistance Council’s director of research and information, an arm of that nonprofit which seeks to generate and improve access to reliable data about rural housing trends nationwide. Since 2020, a lot of airtime...
Here’s how affordable housing fared on midterm ballots
One housing affordability measure made it on a statewide ballot in this year’s midterm elections amid a nationwide housing crisis that has left the U.S. short at least a million homes — and it is projected to pass narrowly. Continue Reading Here’s how affordable housing fared on midterm ballots
Housing Recession
Source: Terry Savage --- Americans may be excused for wondering where this recession talk is coming from. Economic growth (GDP) turned nicely positive in the third quarter. The stock market has rallied, regaining some, though not all of this year’s losses, on hopes...
