U.S. Housing Market
NYC Median Rent Up 5.4% from Last Year
Smaller apartments recorded the greatest rent gains with a 6.0% year-over-year spike to $3,581, Continue Reading NYC Median Rent Up 5.4% from Last Year
New Home Purchase Mortgage Applications Up 2% in September
The average loan size for new homes increased from $374,288 in August to $379,107 in September. Continue Reading New Home Purchase Mortgage Applications Up 2% in September
Indiana Home Sales Up 12%
Homes sold for a statewide median price of $263,000 in April, up 5% year-over-year. Continue Reading Indiana Home Sales Up 12%
The Cheapest Metro Area for Buying a Home Is…
The Rust Belt and the South dominate the top 10 list. Continue Reading The Cheapest Metro Area for Buying a Home Is…
Is Renting Less or More Expensive? It Depends Which Data Report You Cite
Redfin and Zillow published rental housing data reports with little common ground. Continue Reading Is Renting Less or More Expensive? It Depends Which Data Report You Cite
Think Home Prices Are Going To Fall? Think Again
Source: Keeping Current Matters --- Over the last two years, the rate of home prices appreciated at a dramatic pace. While that led to incredible equity gains for homeowners, it’s also caused some buyers to wonder if home prices will fall. It’s important to know the...
Mortgage Rates Hit 2 Week Lows
Source: Mortgage News Daily --- Thursday brought the much-anticipated policy announcement from the European Central Bank (ECB). While our focus remains on mortgage rates in an entirely different continent, major goings on in European markets almost always have an...
Housing market chills as mortgage rates, prices scare buyers
Source: AP News --- NEW YORK (AP) — Kyle Tomcak was looking for a home for his in-laws in the suburbs around Denver, something priced close to $450,000. Tomcak became dispirited as he lost out to investors fronting cash offers $100,000 over the asking price. Then...
Homebuyer Competition Drops to Lowest Level in Over Two Years
Source: Redfin --- The bidding-war rate dipped below 50% for the first time since the start of the pandemic in June as rising mortgage rates and inflation took a bite out of homebuyer budgets. Nationwide, 49.9% of home offers written by Redfin agents faced competition...
First American: Potential home sales in June drops 2.5% monthly
Source: Scotsman Guide --- According to new figures from First American Financial Corp., a seasonally adjusted annualized rate of 5.47 million existing-home sales would represent a “healthy” pace of home sales for June. Potential home sales according to the company’s...
Grim outlook for housing market, NAHB CEO warns
Source: Fox Business --- National Association of Home Builders CEO Jerry Howard warned on "Varney & Co." Monday of "a tough time" ahead for the industry as data revealed the housing market has been slowing down. Howard provided the insight on the same day it was...
Single-Family Starts Fall to Two-Year Low on Higher Construction Costs and Interest Rates
Source: Eye on Housing --- Increased interest rates, building material supply chain bottlenecks and elevated construction costs continue to put a damper on the single-family housing market. For the first time since June 2020, both single-family starts and permits fell...
Foreign buyers remain absent from U.S. housing market
Source: The Real Deal --- The share of U.S. homes purchased by foreign nationals — a potentially critical pool of buyers as rising interest rates threaten to slow domestic spending — has tumbled to a more than twelve-year low. Foreign nationals bought 98,600...
Grim outlook for housing market, NAHB CEO warns
Source: Fox Business --- National Association of Home Builders CEO Jerry Howard warned on "Varney & Co." Monday of "a tough time" ahead for the industry as data revealed the housing market has been slowing down. Howard provided the insight on the same day it was...
7 Things Today’s First-Time Homebuyers Should Consider
In today’s market, things are a little intense for first-time home buyers. But just because house prices are skyrocketing and interest rates are higher than what they were a year ago doesn’t mean buying a home is out of reach for you. In this article, we help walk...
