The numbers: U.S. existing-home sales fell 7.7% to a seasonally adjusted annual rate of 4.09 million in November, the National Association of Realtors said Wednesday. This is the 10th straight Read more
Tag: housingdownturn
The median income needed to buy a typical home is over $88,000 — $40,000 more than prior to the pandemic
Home price growth in big cities has slowed, but not stalled, in the third quarter, according to a new report from the National Association of Realtors (NAR). The NAR, which Read more
Mortgage refinancing demand falls to lowest level since 2000
The numbers: Mortgage rates remain above 7%, slowing demand for refinancing and dragging overall mortgage demand down for the seventh week in a row. Mortgage applications fell 0.1% this week, Read more
Home builders struggle to find buyers as cancellations by developers rise: ‘The build-for-rent market is going to become increasingly important’
It’s a tough time to be selling a home. That’s also true for home builders, who are seeing canceled orders and dwindling interest among would-be buyers. “Mortgage applications have been Read more
People are keen to move out of big cities due to inflation. They are eyeing these sunny locations for lower-cost living.
Americans are fed up with the high cost of living in big cities, and they’re planning on moving to sunny, more affordable locations. That’s according to a new report by Read more
The midterm elections are coming. Here’s what that means for the U.S. housing market.
The midterm U.S. elections are coming. And elections have consequences for the housing market, according to a new report from investment bank Cowen. The report by Cowen’s Jaret Seiberg noted Read more
Decline in U.S. pending home sales gathers steam in September
The numbers: U.S. pending-home sales fell 10.2% in September, which is the fourth straight monthly drop, according to the monthly index released Friday by the National Association of Realtors (NAR). Read more
Mortgage rates surpass 7%, Freddie Mac says — ‘leading to greater stagnation in the housing market’
High mortgage rates continue to pressure the housing market, as the sector undergoes a deep slow down after two years of blockbuster growth. The 30-year fixed-rate mortgage averaged 7.08% as Read more
U.S. new home sales retreat in September, partially reversing surprising gain in prior month
The numbers: U.S. new home sales fell 10.9% to a seasonally-adjusted annual rate of 603,000 in September, from a revised 677,000 in the prior month, the Commerce Department reported Tuesday. Read more
Mortgage applications drop after rates top 7%, the highest since 2001
The numbers: Mortgage applications fell 1.7% this week, as higher mortgage rates continue to depress buyer demand, dragging down the housing sector. Applications continue to trend at the lowest level Read more
- 1
- 2