U.S. Housing Market
$21.5 Million Sale of Charleston Mansion Breaks City Record
The property at 51 East Bay Street encompasses four structures totaling over 15,700 square feet. Continue Reading $21.5 Million Sale of Charleston Mansion Breaks City Record
Report: More Californians Can Afford to Buy a Home
The statewide median price of existing single-family homes in California fell by 2% from the second quarter to the third quarter. Continue Reading Report: More Californians Can Afford to Buy a Home
Real Estate Investor Sentenced to Probation for Role in $165 Million Mortgage Fraud
Drillman pleaded guilty in December 2023 to one count of conspiracy to commit wire fraud affecting a financial institution. Continue Reading Real Estate Investor Sentenced to Probation for Role in $165 Million Mortgage Fraud
Premier Mortgage Resources Debuts Specialty Products Division
“The mortgage landscape is evolving, and so are the needs of our clients,” said Cory Swain, CEO. Continue Reading Premier Mortgage Resources Debuts Specialty Products Division
Report: Typical Down Payment Level Down for First Time in Nearly 2 Years
Redfin attributed the drop in down payment levels to a slightly higher share of homebuyers using FHA and VA loans, which require lower down payments. Continue Reading Report: Typical Down Payment Level Down for First Time in Nearly 2 Years
More of Your Paycheck Is Going to Pay Rent. Which Cities Are Keeping Pace?
Source: The New York Times --- With skyrocketing rents, landlords aren’t just taking more of your cash — they’re spending more of your time. The typical full-time employee in the United States worked nearly 63 hours in October to pay an average rent of $2,040 — almost...
Home Prices Drop for Third Straight Month as US Market Cools
Source: Bloomberg --- The US housing market pulled back even more in September, with prices slipping 1.2% from a month earlier. It was the third straight decline for the seasonally adjusted measure of prices in 20 large US cities, according to the S&P CoreLogic...
Housing Market Decline: Home Prices Continued Three-Month Decrease In September
Source: Forbes --- TOPLINE Home prices continued to decline for the third-straight month in September, according to data released Tuesday, after the housing market reported its largest deceleration ever in August. KEY FACTS Home prices declined by 1.2%...
Bank of America CEO predicts two years of pain ahead in the housing market
Source: CNN Business --- New YorkCNN Business — The CEO of one of the nation’s largest banks is preparing for an economic downturn in 2023. But he’s also hopeful that the likely recession will be brief and “mild.” Bank of America (BAC) CEO Brian Moynihan said in an...
U.S. single-family home prices slow again in September
Source: CNBC --- U.S. single-family home prices slowed further in September as higher mortgage rates eroded demand, closely watched surveys showed on Tuesday. The S&P CoreLogic Case Shiller national home price index dropped 0.8% month-over-month in September....
The Housing Market is Projected to Fall in 2023: What You Should Know
Source: Appraisal Buzz --- The U.S. real estate market is at near-unprecedented pricing, but that may not be the case for long. Recent data has experts projecting it will fall in the next year, which would lead to major changes for buyers, sellers, and professionals....
Mortgage market slumps – is this the solution to boost business?
Source: MPA Mag --- Amid a sluggish housing market with a backdrop of inflation, marketing has gained heightened importance as brokers struggle to differentiate themselves in the industry. Now, one marketing expert offers advice on how to go about it. Natalie Mullen...
Rising Inventory Will Be the Housing Market’s Next Problem
Source: The Washington Post --- The US housing market is in an uneasy state of equilibrium. Demand has plummeted as mortgage rates hit a two-decade high, but prices haven’t declined much in part because supply remains correspondingly low. If borrowing costs don’t...
“Collapse” in home prices is coming, experts say
Source: Axios --- The residential real estate market has screeched to a halt, and some economists believe home prices are about to drop significantly. The big picture: Existing home sales have fallen for nine straight months. The supply of single-family homes is...
Keep An Eye On D.R. Horton In 2023
Source: Seeking Alpha --- Introduction I recently wrote an in-depth article on the housing market and home builders in the United States. While we will also discuss the core message in this article, the main takeaway is that major buyers are waiting until unemployment...
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