The median mortgage payment dropped by the end of 2023, which has allowed some buyers who had been sitting on the sidelines to finally dive back into the housing market.
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 »New Home Price Insights for August 2023
CoreLogic’s latest Home Price Index covering the month of August found that numbers are beginning to rebound after hitting an 11-year low earlier this spring.
Read More »Sixteen Percent of Home Purchases Fell Through in August
Home purchases fell through at a rate of 15.7% in August, a number which is up 14.3% year-over-year and the highest number recorded since October 2022.
Read More »Housing Supply Jumps to Six-Month High
U.S. housing supply jumped to 7.8 months at the current sales rate in August, the highest measure recorded since March 2023, as the inventory of completed homes for sale continued to climb, hitting its highest level since April 2020.
Read More »Nationwide Home Sales Inched Forward in June
June is typically the biggest month for home sales, according to the latest RE/MAX National Housing Report, with month-over-month sales rising 5.4% from May. Meanwhile, the average close-to-list price ratio was 100%, meaning homes sold for their average asking price.
Read More »U.S. Median Sales Price Experiences Modest Increase
According to the RE/MAX National Housing Report for February 2023, the median sales price experienced a slight rise over January, ending a seven-month streak of price declines.
Read More »Report: Housing Market Still Reeling From Rates
According to a new report from Redfin, one-third fewer homes went under contract in October compared to last year.
Read More »Market Exhibiting Signs of Seasonal Slump
Median sales price now sits below the highs recorded during June, while inventory hit a recent record high. Click through to find out what else RE/MAX’s National Housing Report found.
Read More »Rise in Rates to Impact Consumer Affordability
Economists have found that improvements in the economy and a rise in wage growth will continue to push mortgage rates upward and decrease consumer house-buying power as 2021 bleeds into 2022.
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