According to Redfin's latest Housing Market Update, inclement weather that froze parts of the U.S. slowed overall homebuying activity recently. Conversely, agents in warmer regions report that buyers and sellers remain active, despite mortgage rates remaining in the high-6% range.
Read More »December Housing Trends: Positive Signs for 2024?
According to the RE/MAX National Housing Report, home sales dropped year-over-year in December, but experts project that with mortgage rates continuing their downward trend, homebuyers that have been priced out or pushed to the sidelines may begin to creep back into the market.
Read More »2023 U.S. Foreclosure Activity Snapshot
A new report notes that 2023 foreclosure filings were up from 2022 but still below pre-pandemic levels. "Reflecting on 2023, we see the recent rise in foreclosure activity as a market correction rather than a cause for alarm. It signals a return to more traditional patterns after years of volatility," said Rob Barber, CEO at ATTOM.
Read More »Declining Mortgage Rates, Monthly Payments Motivating Homebuyers
While the total number of listings is down year-over-year, a new Redfin report revealed that mortgage applications are rising as more home sellers list their homes on the market, offering buyers a lower rate from their October-high and more inventory to choose from.
Read More »Zillow Forecast: The Hottest Housing Markets of 2024
While housing affordability is expected to improve in 2024, according to a new Zillow market report, with the hottest markets across the U.S. located in cities that offer cheaper mortgage payments and more job opportunities.
Read More »Home Sales Retreat YoY
NAR Chief Economist Lawrence Yun said, "The latest weakness in existing home sales still reflects the buyer bidding process in most of October, when mortgage rates were at a two-decade high before the actual closings in November.”
Read More »Cooling Home Values Boost Affordability
As mortgage rates continue to ease, homebuyers are still constrained by elevated housing costs, according to Zillow's latest housing report. However, cooling home values did provide some relief in November.
Read More »U.S. Homeowners Remain Financially Disincentivized to Sell Their Homes
According to a new study from First American, some 90% of homeowners remain discouraged by the idea of selling their homes. Will that change if mortgage rates were to decline in 2024? Here’s what experts predict about the ongoing “sellers’ strike.”
Read More »Persistent Lack of Inventory Limiting Market Potential
One of the key datapoints of the newest housing snapshot from the National Association of Realtors is that existing home sales in October fell to a seasonally adjusted annual rate of 3.7 million units. Click through for more from this report.
Read More »Housing Inventory Plummets in Most Affluent U.S. ZIP Codes
A recent Point2 study examined America’s fastest-selling and most expensive ZIP codes, showing that while inventory fell dramatically in some of the nation’s priciest markets, homes are selling faster than the year before, with some million-dollar estates selling in just one week.
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