Fannie Mae’s Economic and Strategic Research Group predicts a gradual return to a more “normal” housing balance in 2024.
Read More »Fewer Homeowners Held Onto Ultra-Low Interest Rates in 2023
The number of homeowners with relatively low rates has fallen because many have given up on waiting to move until rates fall, and everyone who did so had to take out a rate at above 6%.
Read More »Mortgage Rate Drops Encouraging Market Activity
“The slight increase in December listings indicates the impact of lower mortgage rates is beginning to trickle down into the market, which comes as an optimistic sign as we head into the new year," said Jeremy Sicklick, Co-Founder and CEO of HouseCanary.
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 »How Much Purchasing Power Have Homebuyers Lost YoY?
Mortgage rates hovering around the 7% mark are cutting into buyers’ budgets, according to a new report from Redfin. It found that a buyer on a $3,000 monthly budget can afford a home valued at $429,000, assuming a 7.4% mortgage. But how does this stack up when compared to last year?
Read More »Inventory Drops as Homes Sell for Near Record Highs
A record low number of homes for sale have propped up prices, increasing the average home sales price to near record highs.
Read More »Lock-In Effect Leads Average Home Prices to Breach $350K
Even though low inventory caused by the lock-in effect is causing a crunch for home seekers, prices continue to rise and have hit a new record high, eclipsing the previous peak set one year ago.
Read More »Freddie Mac: If Labor Market Slows, Delinquency Rates Could Rise
“Overall credit performance remains solid for higher credit quality borrowers, but that is in an economy with unemployment rates below 4%,” Freddie Mac said in their report.
Read More »Median Home Prices Fall Up to $80k Across the Country
Boise, Idaho and Austin, Texas experienced the biggest drops in home prices as U.S. median home sale prices fell 4.1% across the board. Click through to see what that decline represents.
Read More »Despite Market Conditions, Potential Existing Home Sales Increased 0.45% MoM
Based on April’s data, potential existing-home sales increased to a 5.34 million seasonally adjusted annual rate, a 0.45% month-over-month increase. This represents a 53.3% increase from the market potential low point over 30 years ago in February 1993.
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