Tag Archives: Home Sales

Despite the early-June underperformance, Redfin reports that home-tour numbers indicate pent-up demand that should translate into improved sales once mortgage rates drop.

Although a national debt default is unlikely, new scenario projections from Zillow reveal home sales would decrease sharply. While home values would not lose much ground, a surge in mortgage rates would do further damage to nationwide housing affordability.

“While the NFCI Credit index indicated that credit tightened in March, which reduced housing market potential, the credit tightening was modest and far from recent pandemic lows, and certainly nothing like the Great Financial Crisis period,” said Mark Fleming, Chief Economist at First American.

Both home sellers and homebuyers continue to struggle to navigate the market, with a new seller survey from Realtor.com revealing that home prices are up 7.8% from last year.

The share of U.S. homes worth at least $1 million slipped to 7% from 8.6% in June, according to a new report from Redfin, as inflated mortgage rates continue to cool the housing market.

According to a new market report from Zillow, high interest rates caused new listings to hit a record low in February, frustrating willing homebuyers nationwide.

While overall home sales remain down 24.4% year-over-year, February home sales increased nearly 17% from January, according to the RE/MAX National Housing Report.

According to the latest Mortgage Bankers Association Builder Application Survey data for February 2023, mortgage applications for new home purchases increased just 1.2% compared to the same time a year ago.

According to a new Zillow survey, starting next year, experts foresee price growth picking back up at an average clip of 3.5% per year through 2027.

As a result of slowing market activity and steadily increasing interest rates, a new HouseCanary report revealed early signs of housing market activity growth halted due to the latest round of rate hikes.