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 »Home Flipper Investment Returns Rebound
Profits and profit margins for home flippers recovered in Q3 2023, with a new report revealing that investors were able to benefit from shifts in prices between the time of purchase and the point at which they sold them.
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 »Home Prices Hit New Peak as ‘Supplier’s Strike’ Continues
October sale prices indicated that the lack of housing supply is constraining market and frustrating homebuyers, according to First American's October Home Price Index report, with sellers continuing their "suppliers' strike" and further hampering already insufficient inventory levels.
Read More »Examining the Impact of the ‘Lock-in Effect’
A new Fannie Mae report examines how the "lock-in effect" is affecting the housing market. Click through to read why surveyed homeowners are staying put, and how that choice is sending ripple effects throughout the market.
Read More »The (Unattainable) American Dream?
As limited supply and affordability barriers continue to hinder potential homebuyers, Bankrate surveyed how U.S. adults feel about the ever-changing housing market, revealing that nearly half of all Americans believe it's a bad time to buy, while many others believe they'll never be able to afford their dream home. Here’s what else the survey revealed.
Read More »Fannie Mae: Long-Term Interest Rates Projected to Impact Economy
New commentary from Fannie Mae revealed the ESR Group is warning that while rates are moving rapidly again, they are expected to weigh on consumption and business investments over time. Experts now project a significant slowing trend in economic growth through the end of the year and into 2024.
Read More »August New Home Purchase Mortgage Applications Up Nearly 21%
Purchase demand remained strong in August for newly constructed homes, increasing 20.6% compared to a year ago, according to the MBA Builder Application Survey, while the average loan size for new homes increased to $398,092.
Read More »Examining Discrimination, Financial Barriers in the Homebuying Process
Nearly one in six prospective homebuyers across different races and ethnicities reported facing some form of discrimination during the homebuying process, according to the National Association of Realtors. Others cited their primary reasons for stalling their home purchase as waiting for mortgage rates and home prices to decline, alongside a lack of available homes within their budget.
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