U.S. Housing Market
Q3 Home Prices Up in 77% of Metro Markets
Eight of the 10 most expensive markets were in California, led by the San Jose-Sunnyvale-Santa Clara metro at $1.9 million, up by 0.8% from one year earlier. Continue Reading Q3 Home Prices Up in 77% of Metro Markets
Report: Increasing Number of VA Loans Being Used in Homebuying
Nationwide, the number of VA loans rose 3% year-over-year in August, while the number of conventional loans declined 9%. Continue Reading Report: Increasing Number of VA Loans Being Used in Homebuying
Office-to-Residential Conversion Begins on DC Property
The eight-story, 536,000-square-foot office building opened in 1992 and will become an 11-story, 658,000-square-foot modern apartment building. Continue Reading Office-to-Residential Conversion Begins on DC Property
265-Unit Seattle Multifamily Community is Acquired for $173 Million
The 16-story Danforth was constructed in 2018 at the intersection of Seattle’s First Hill and Capitol Hill neighborhoods. Continue Reading 265-Unit Seattle Multifamily Community is Acquired for $173 Million
Housing Report Finds Most At-Risk Counties in California and New Jersey
More than half (27) of the 50 least at-risk counties in the analysis were in Southern states. Continue Reading Housing Report Finds Most At-Risk Counties in California and New Jersey
High mortgage rates send homebuyers scrambling for relief
Source: KAGS TV --- LOS ANGELES — Mortgage rates are more than double what they were a year ago, so many homebuyers are looking for ways to put off some of the pain for a few years. The trend has driven adjustable-rate mortgages, or ARMs, to the highest usage in over...
Mortgage rates fall for the second week in a row
Source: CNN --- Mortgage rates dropped again this week, after plunging nearly half a percentage point last week. The 30-year fixed-rate mortgage averaged 6.58% in the week ending November 23, down from 6.61% the week before, according to Freddie Mac. A year ago, the...
Opinion: Homeowners should prepare for an ugly 2023, but it’s unlikely we’ll have a repeat of 2008
Source: CNN --- A much-feared correction in US home prices is underway. While this may feel like déjà vu, the drivers behind the recent spike in prices and the current housing market downturn are different from the ones seen in the 2000s. This time around, the US...
Where home prices are headed in 2023—this map shows CoreLogic’s revised outlook for 392 housing markets
Source: Yahoo! Finance --- When a buttoned-up Fed economist says the U.S. housing market has entered into a "difficult [housing correction"], it'd be wise to believe them. When it comes from the lips of Fed Chair Jerome Powell, it's more of a warning. Powell is right:...
What’s The Outlook For The Housing Market?
Source: Forbes --- Key Takeaways Housing sales have fallen for the ninth consecutive month, with transactions down 28.4% compared to this time last year. Average prices have also come down, hitting $379,100 compared to $413,800 in June. It comes as mortgage rates...
Why the US housing market slowed at sharpest pace ‘since the financial crisis’
Source: New York Post --- The US housing market experienced its most significant slump since the Great Recession in October as surging mortgage rates crushed demand, real estate firm Redfin said in a monthly report this week. The number of pending home sales...
The Housing Market is Worse Than You Think
Source: Advisor Perspectives --- Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. What I am about to share with you is an excerpt from a fall letter I wrote to IMA clients. It is...
The Short- and Long-Run Effects of Remote Work on U.S. Housing Markets
Source: Economic Innovations Group --- The rapid growth of remote work has ushered in a variety of economic changes, with notable impacts on the housing market. An emerging literature suggests remote work has shifted both where people live and how much housing they...
When Will The Housing Market Bottom? Ryan Frazier Weighs In
Source: Bezinga --- The U.S. housing market is now slowing down after a record-breaking run that saw home values soar to new highs and mortgage rates drop to historic lows. Although demand and price growth are slowing, analysts and housing economists predict that any...
The U.S. Needs More Housing Than Almost Anyone Can Imagine
Source: The Atlantic --- How many homes must the United States’ expensive coastal cities build to become affordable for middle-class and working-poor families again? Over the past few weeks, I asked a number of housing experts that question. I expected a...
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- Illinois Home Sales Up in June While Chicago Home Sales Decline
- Mortgage Rates Rise for Third Straight Week
- Harvard Forecast Points to Slowing in Remodeling Market
