U.S. Housing Market
Court Orders California City to Approve Affordable Housing
Huntington Beach will have 120 days to adopt an affordable-housing plan that complies with state law. Continue Reading Court Orders California City to Approve Affordable Housing
Mortgage Rates Tick Up Slightly
The 30-year fixed-rate mortgage averaged 6.22% as of Dec. 11, up from last week when it averaged 6.19% Continue Reading Mortgage Rates Tick Up Slightly
New Bipartisan Bill Seeks Government Support for ADU Construction
The lawmakers stated the construction of new ADUs is needed to address the national housing shortage. Continue Reading New Bipartisan Bill Seeks Government Support for ADU Construction
Single-Family Housing Starts and Permits Down in June
Privately-owned housing were at a seasonally adjusted annual rate of 1.321 million, which is 4.6% above the revised May estimate of 1.26 million. Continue Reading Single-Family Housing Starts and Permits Down in June
California Home Sales Up, Reversing 3-Month Slump
California’s median home price fell for the second straight month in June to $899,560. Continue Reading California Home Sales Up, Reversing 3-Month Slump
Why Today’s Housing Inventory Proves The Market Isn’t Headed For A Crash
We all remember the housing crash of 2008 even if we didn’t own a home. It is something that stays embedded in our minds. As we take a look at the market over the last year, some of us have been at the edge of our seats wondering where it’s headed. Some say we’re...
Housing Prices Likely to Have Slow Fall in 2023
Source: Yahoo! Finance --- The U.S. housing market is clearly slowing down. The Census Bureau’s statistics show that building starts dropped around 11% between Jan 2021 and Oct 2022 and dropped 6% in the twelve months to October. New home sales are down over 30% from...
Zillow’s Predictions for the 2023 Housing Market
Source: GLOBEST.COM --- Zillow made a series of what it called “bold predictions” about housing markets for the coming year. Unlike the title, what the company suggested is a series of deductions, either from their own or more common data and also trends many in CRE...
Dave Stevens on understanding this housing market
Source: Housing Wire --- I have been part of the mortgage banking industry since 1983 — 39 years to date through different housing markets. And while my more recent roles were more senior in stature, my mind tends to think like I did when I was a top loan originator...
Home Inventory Is Up And Prices Will Drop, But Buyers And Investors Have Left The Market
Source: Yahoo! --- If the U.S. residential housing market were a vehicle, it would be stuck in park right now. And while some opportunities may be coming that would allow investors to shift back into drive, the overriding consensus is to keep the car in the driveway...
Mortgage demand falls again even as rates sink further
Source: CNBC --- Lower mortgage rates are pulling some current homeowners back to the refinance market, but not enough to offset the drop in demand from homebuyers. Mortgage application volume fell 1.9% last week compared with the previous week, according to the...
4 in 10 consumers expect housing market will crash, survey finds
Source: WTOP News --- Economists and real estate industry leaders generally agree that the U.S. housing market has slowed and will continue to in 2023, but have tended to use words like “temper,” “modest” and “correction” when referring to declining sales and prices...
Here’s why US homes were pulled off market at a record pace last month
Source: New York Post --- US listings of home for sale got pulled a record clip in November because of a major freeze in the market that surprised sellers, according to a recent report by real estate firm Redfin. An average of 2% of US homes up for sale were delisted...
Most Affordable Housing Market In America
Source: 24/7 Wall St --- The housing market’s days of increasing prices every month are over. A two-year period when home prices rose by 20% each month year over year has been undermined by high mortgage rates that have doubled to about 6%. Affordability, defined...
Colorado Springs housing market sees prices drop fast
Source: Fox 31 News --- Several U.S. cities where home prices skyrocketed due to an influx of new residents during the pandemic are now seeing prices drop quickly. Real estate experts at Redfin looked at year-over-year data back in February and then again in October...
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