While both listed and closed prices experienced positive year-over-year growth in June, experts predict that market activity will remain at relatively low levels heading into Q3 2023, with the Federal Reserve continuing to increase rates at a slow pace.
Read More »HPSI Remains Low as Limited Supply, Affordability Constraints Persist
Consumer confidence in the housing market may have plateaued, according to Fannie Mae's Home Purchase Sentiment Index (HPSI), which remained mostly flat in June, as shrinking supply and affordability conditions continue to pose challenges.
Read More »Using Mortgage Reserves to Help Narrow the Black-White Homeownership Gap
New research from FHLBank San Francisco and the Urban Institute investigates ways to reduce mortgage default risk for vulnerable homeowners by utilizing mortgage reserve accounts that could help homeowners overcome temporary hardships, which would benefit Black families, who are more than twice as likely as white families to lose their home to foreclosure.
Read More »Renting Now Cheaper Than Buying in Nearly All Highest-Populated U.S. Cities
According to a new study from Home Bay, it is cheaper to rent than purchase a home in 45 of the 50 most populous U.S. cities, with San Jose, California, ranked the most expensive city for buying a home, whereas Pittsburgh was named the most affordable.
Read More »Pending Home Sales, Contract Signings Experience Slight May Drop
"Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing," said NAR Chief Economist Lawrence Yun. "The lack of housing inventory continues to prevent housing demand from being fully realized."
Read More »Active Inventory Continues to Decline Nationwide
With nearly 26% fewer homes newly listed for sale compared to last year, active inventory slowed for the fourth month in a row, according to the Realtor.com Monthly Housing Trends Report for June.
Read More »Examining the Best U.S. Cities for Single-Family Rental Cash Flow
According to a new study from My Perfect Mortgage, Detroit and Cleveland are among the top cities for single-family rental cash flow, while eight out of 10 of the worst are located in pricey California metros.
Read More »Sun Belt Metros Remain Top Destinations for Relocating Homebuyers
Despite the high risk of drought and flooding, Phoenix ranks as the most popular destination for homebuyers looking to move to a different part of the country, followed by Las Vegas and several Florida metros, according to a new report from Redfin.
Read More »Share of Million-Dollar Homes Rising
While relatively uncommon in most of the U.S., the share of million-dollar homes is growing at a moderate pace. A new analysis from LendingTree reveals which metros have the highest share of million-dollar properties.
Read More »Forecast Update: Home Prices Now Expected to Decline Slightly
Realtor.com has updated their forecast for the year, now saying mortgage rates could drop to 6% by the year’s end, but inventory woes are not likely to improve and could drop to numbers last seen in 2012.
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