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 »Fannie Mae Forecast: Economy Will Pick Up in 2025
Home sales are likely to weaken in the near term and will likely bottom out sometime early next year, according to new commentary from Fannie Mae’s Economic and Strategic Research Group.
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.
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 »NAR Forecast: Existing Home Sales on the Rise by Next Spring
According to National Association of Realtors Chief Economist Lawrence Yun, mortgage rates will be between 6-7% by next spring. Here’s what that may mean for existing home sales.
Read More »Share of Home Sellers Offering Concessions Up From Pandemic Lows
As homebuyers continue to back out of the housing market, home sellers are providing concessions to help reduce the buyers’ total cost of purchasing the home, according to a new Redfin report, offering some house hunters a sense of financial relief in hopes to sell their homes quickly.
Read More »A Window of Homebuying Opportunity Opens
With mortgage rates plummeting 26 basis points week-over-week, Redfin reports that buyers may have a limited amount of time to take advantage. The average rate now sits at its lowest level since mid-September … but for how long?
Read More »Up, Up, and Away: How Many U.S. Metros Reported Q3 Home Price Gains?
NAR reports that single-family existing-home sales prices rose in the vast majority of metros nationwide in the third quarter, with the national median home price growing to more than $406K.
Read More »SFR Growth Expands in Q3 Amid Housing Market Uncertainty
While rent prices remain historically high despite a slight increase in year-over-year price growth, Single-Family Rental inventory surged in Q3 compared to the previous year, according to a new study from HouseCanary. Here are the details.
Read More »Cash Is King Among Current Real Estate Buyers
“Affluent Americans are the only ones who can avoid the sting of high mortgage rates; plus, they’re spending less on housing and keeping more money in the bank because they’re avoiding interest payments,” said Redfin Senior Economist Sheharyar Bokhari.
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