Rents Slide by Largest Amount in at Least 7 Years (November 2022 Rental Report)
Asking rents declined 0.4% from October to November, the largest one-month decline in the seven-year history of the Zillow Observed Rent Index. November is usually the slowest month for rent increases, but outright declines had not exceeded 0.1% in this time of the year before the pandemic.
10 Best Metros For First Time Home Buyers in 2023
After the pandemic fueled bidding wars, the number of shoppers in the housing market has fallen. And although housing affordability is extremely challenging these days, some markets fare better than others for first time home buyers.
The typical U.S. home value fell slightly from October to November (-0.2%), as high interest rates further discouraged home buyers.
Mortgage Rates Fall Slightly on Evidence of Waning Inflation
Mortgage rates fell slightly this week, as more evidence of waning inflation helped push rates back to their lowest levels in months.
Mortgage Rates Fall Sharply on Cooling Inflation
Mortgage rates fell sharply this week, retreating to their lowest level since September, and appear poised to fall further ahead of next week’s key update on inflation.
Mortgage Rates Flat, Appear Ready to Fall
Mortgage rates fell sharply this week after a blockbuster report on inflation showed that price pressures may finally be easing.
September 2022 Case-Shiller Results & Forecast: Holding Tight
September brought about high interest rates and slowing sales, which continued to slow home price growth annually. On a monthly level, home prices continued to drop. While buyers are stepping aside waiting for more affordable prices and rates – causing the slowdown on price growth – would-be sellers are sticking their ground and holding tight to the inventory they currently own.
Zillow Home Value and Sales Forecast: November 2022
Zillow’s forecast for existing home sales in 2022 was revised down slightly as leading indicators point to continued slowing in the housing market in the near term.
