U.S. Housing Market
More Homes Were Equity Rich During Q2
ATTOM also noted that 2.7% of mortgaged residences were seriously underwater in the second quarter. Continue Reading More Homes Were Equity Rich During Q2
Pending Home Sales Down During June
The Northeast recorded a 2.1% uptick in pending home sales from May but remained unchanged from June 2024. Continue Reading Pending Home Sales Down During June
Hits and Misses for the Real Estate Week of March 17-21
A new focus on affordable housing development, a delay in a key confirmation, and an unhappy Chinese leader. Continue Reading Hits and Misses for the Real Estate Week of March 17-21
Rhode Island Home Sales Down 8.8%
The median price of single-family homes of $455,500 marked a 3.5% year-over-year increase. Continue Reading Rhode Island Home Sales Down 8.8%
New York State’s Housing Inventory at Record-Setting Low
Home prices soared by 15.4% year-over-year, from a median of $378,000 in February 2024 to $436,125 last month. Continue Reading New York State’s Housing Inventory at Record-Setting Low
One in five home sellers is now dropping their asking price as the housing market cools
Source: CNBC --- Home sellers are getting nervous, as the once hot housing market cools fast. One in five sellers in August dropped their asking price, according to Realtor.com. A year ago that share was just 11%. The average home sold for less than its list price...
White House Gives Fed Some Cover on Rates After Warren Critique
Source: Bloomberg --- The White House is giving the Federal Reserve leeway to raise interest rates to tame inflation, a day after Democratic Senator Elizabeth Warren warned the central bank’s actions could tip the US economy into a recession. “We don’t want to step on...
Bank of America aims mortgages, CRE loans at women and minorities
Source: American Banker --- Two new Bank of America lending programs seek to promote homeownership among minority borrowers as well as incentivize economic development in disadvantaged communities. One is a pilot program that would offer mortgages to Black and...
Home prices are falling in 6 major US cities and still rising in 13. Here’s how the major markets are faring as buyers adjust to the end of the boom
Source: Business Insider --- The red-hot housing market has fizzled out — and that means home prices are finally cooling down. Over the past few years, intense buyer competition has elevated home prices throughout the US but as affordability wanes, demand is fading...
Everyone pays the cost as the rich keep spending
Source: Financial Times --- Inflation isn’t new, but price rises can still shock. I recently holidayed in the Hamptons, a tony beach area outside New York, where I was stunned to pay $800 for a single shopping cart of groceries. This wasn’t at some foodie emporium,...
Home sale cancellations rise in ‘remarkably uncertain time’ for market: Redfin CEO
Source: New York Post --- The US housing market is in the midst of a significant pullback, with cooling conditions that have contributed to a spike in home sale cancellation rates, according to the top boss at real estate firm RedFin. RedFin CEO Glenn Kelman noted...
The Real Impact Of A Housing Market Recession
Source: Forbes --- Key Takeaways: A housing market recession occurs when home sales decline for six months straight, which officially happened in July 2022. Two main forces are driving the housing market recession: increasing interest rates and increasing construction...
What does ‘housing recession’ even mean? Economists don’t really know
Source: Inman --- The phrase “housing recession” has exploded in popularity, according to an analysis of search terms. But pinning down what it means and where it originated is surprisingly difficult, experts told Inman.
Real estate: A looming end to the long boom
Source: The Week --- The "booming housing market is stalling out," said David Harrison and Nicole Friedman in The Wall Street Journal. Trapped between near-record prices and soaring mortgage rates, buyers are pulling back. In July, figures released last week show,...
US home price growth ‘to stall completely,’ Goldman warns
Source: New York Post --- The US housing market still has “further to fall” in a recent downturn that has sparked fears of a recession, Goldman Sachs analysts warned in a note to clients on Tuesday. The bank’s analysts expect home price growth in the once-booming...
