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.
Renters Need to Work 63 Hours to Pay Rent, Six Hours More Than Before the Pandemic
An average American needs to work about 63 hours to earn enough to pay the typical U.S. rent of $2,040. That is three more hours than they would have needed to work a year ago, and six hours more than in October 2019, before the pandemic.
October Existing Home Sales: Affordability Woes See Largest Drop in Sales in 15 Years
Existing home sales slipped in October, continuing the trend with every month in 2022 seeing a drop in sales, seeing the largest year over year decrease in existing home sales since 2007.
October Housing Starts: Homebuilding Activity Slows Again
October was a challenging month with disappointing inflation data and soaring interest rates, and it is no surprise that home building activity reverted back to a downward trend
Home values inched up 0.1% in October, as tight inventory kept pricing surprisingly resilient. Still, this flicker of demand strength might be a belated response to the late-summer drop in mortgage rates, to an average of 5.22% in August on a 30-year fixed loan, which gave some buyers a reason to jump off the fence and buy then.
Mortgage Rates Fall As Inflation Reports Easing Pressures
Mortgage rates fell sharply this week after a blockbuster report on inflation showed that price pressures may finally be easing.
Midweek Price Cuts Offer Black Friday Bargains for Home Shoppers
With Black Friday coming up, shoppers of all kinds have their eyes peeled for great deals – including home shoppers. While the housing market rebalances, home shoppers who are able to afford today’s market may be wondering when the best time is to look for a discount on their dream home. As the share of listings with a price cut reaches new heights, now may be the best time to find that deal on a house you love.
