U.S. Housing Market
Hits and Misses for the Real Estate Week of Nov. 24-28
Thought leaders saying the right thing, revenge seekers doing the wrong thing, and a new movie and book worth pursuing. Continue Reading Hits and Misses for the Real Estate Week of Nov. 24-28
Santa Fe to Link Minimum Wage Increases to Housing Affordability
Santa Fe’s minimum wage will rise to $17.50 in 2027. Continue Reading Santa Fe to Link Minimum Wage Increases to Housing Affordability
City Ventures Debuts New LA-Area Townhome Community
Pricing begins in the $500,000s. Continue Reading City Ventures Debuts New LA-Area Townhome Community
Virginia Home Sales Remain Flat While Prices Continue to Rise
Virginia’s median sales price was $440,000 in May, up $15,000 since last year, reflecting a 3.5% increase. Continue Reading Virginia Home Sales Remain Flat While Prices Continue to Rise
Mortgage Rates Decline Again
The 30-year fixed-rate mortgage averaged 6.77% as of June 26. Continue Reading Mortgage Rates Decline Again
Powell warns of a correction in the once ‘red-hot’ housing market
Source: Boston --- Federal Reserve Chair Jerome Powell warned that the US housing market is likely to suffer a reversal in the wake of policymakers’ interest-rate hikes. “We’ve had a time of a red-hot housing market all over the country,” Powell said in a press...
US ‘housing recession’ could send prices 20% lower by mid-2023: economist
Source: New York Post --- US home prices are now “clearly falling” and could plummet by as much as 20% by mid-2023 as the Fed continues its aggressive push to hike interest rates, according to a prominent economist. Ian Shepherdson, the chief economist at Pantheon...
Housing market correction? Here’s what experts think is ahead for the real estate market
Source: USA Today --- The Federal Reserve's interest rate hikes may be intended to give the housing industry a "reset," as chair Jerome Powell wanted, but it also may have further confused home buyers and sellers on what to do next. Average 30-year fixed mortgage...
The Fed to reset the U.S. housing market through a ‘difficult correction’—5 things to know about the plan
Source: Fortune --- Fed Chair Jerome Powell told reporters back in June that spiking mortgage rates would see the Pandemic Housing Boom fizzle out. In the eyes of Powell, that would be a good thing. “I’d say if you are a homebuyer, somebody or a young person looking...
Ten US Housing Markets That are Cooling the Fastest
Source: Globe Street --- As the US housing market continues to cool, Seattle has the dubious distinction of slowing faster than any other city in the country, according to an analysis by Redfin that ranked the most populous US metropolitan areas according to the...
Housing Market Potential Increases for First Time in Nearly a Year, According to First American Potential Home Sales Model
Source: Business Wire --- SANTA ANA, Calif.--(BUSINESS WIRE)--First American Financial Corporation (NYSE: FAF), a premier provider of title, settlement and risk solutions for real estate transactions and the leader in the digital transformation of its industry, today...
Mortgage customers fear unaffordable repayments due to rate hikes
Source: Mortgage Introducer --- With another interest rate hike expected this week, a third of mortgage customers in the UK said that rising rates have made repayments unaffordable for them. Commissioned by Butterfield Mortgages, an independent survey of 2,000 UK...
Redfin Reports A Record Share of Homebuyers Relocate, Driven By Moves Away From Expensive Coastal Areas
Source: Redfin --- SEATTLE--(BUSINESS WIRE)-- (NASDAQ: RDFN) — A record 33.9% of Redfin.com users nationwide looked to move from one metro to another in July and August, according to a new report from Redfin (www.redfin.com), the technology-powered real estate...
Home prices keep rising amid a seller’s housing market. So why has new homebuilding hit a crawl?
Source: USA Today --- By many accounts, we are still in a seller’s market. Home prices continue to rise in nearly all of the U.S. even as mortgage rates climb ever higher. Inventory levels – typically used by housing economists to gauge whether the market is favoring...
Is a housing market crash on the way in 2022?
Source: AZ Big Media --- Last year was anything but normal — especially in Arizona’s residential real estate market. Median sale prices rose in Phoenix from $325,000 in January 2021 to $404,300 by October, a 24.4% increase, according to real estate website Redfin....
Recent Posts
Hits and Misses for the Real Estate Week of Aug. 24-28- The Mortgage Market Is Healthy. That Doesn’t Mean Every Homeowner Is
- There Isn’t One U.S. Housing Market. We Need to Stop Talking Like The…
- Real Estate’s Next Fight Is Over Who Keeps the Homeowner Relationship
- More Borrowers Can Qualify for a Mortgage. That Doesn’t Make the Hous…
