Millennials polled in a recent survey noted that the current rate environment has deterred their purchase plans, and three out of four feel the market may get worse before it improves.
Read More »Inventory Improves as New Listings Offer Buyers More Options
Realtor.com has released its Monthly Housing Market Trends Report for December, which revealed that while the share of active listings on the market remains low compared to pre-pandemic levels, an uptick in inventory could mean a broader range of homes for homebuyers to choose from.
Read More »Consumers Reveal Their 2024 Mortgage Rate Expectations
The Fannie Mae Home Purchase Sentiment Index revealed consumers' optimism surrounding mortgage rates surged in December, and according to Mark Palim, VP and Deputy Chief Economist at Fannie Mae, "a more optimistic rate outlook among consumers may signal an expectation that home affordability pressures will ease in 2024."
Read More »Starter Home Price Appreciation Ending the Year Strong
Home prices reached a new peak for the eighth consecutive month in November, according to First American's latest Home Price Index report, which revealed that price appreciation for small, affordable homes for first-time buyers remained strong, with starter home prices growing the fastest in many U.S. markets.
Read More »Existing-Home Sales Recover From Five-Month Drop
The share of existing-home sales ticked up, ending a five-month slide, according to a new report from NAR, while the median existing-home price also jumped in November, marking a fifth consecutive month of year-over-year price increases.
Read More »The Impact of Inventory, Rates, and Down Payments on the American Dream
The average down payment now takes nearly 7.5 years to save up, and the effect that stat is having on the market is adding to the number of cost-burdened Americans nationwide.
Read More »High Interest Rates Hindering Homebuyer Mobility
While the combination of high home prices and interest rates continues to price many potential buyers out of the market, homebuyer mobility has stalled as a result as well. Riordan Frost, Senior Research Analyst for the Joint Center for Housing Studies, reveals the latest predictions surrounding homeowner mobility and what it would take to recover.
Read More »Purchase Mortgage Apps Jumped in November
First American's latest Potential Home Sales Model revealed mortgage rates declined in November, "igniting cautious optimism in the industry.”
Read More »Pending Home Sales Soar to Highest Levels in a Year
According to a new market report from Redfin, in November, pending sales climbed to their highest level since 2022, while new listings rose, representing the first sign of growth in a year and a half.
Read More »Navigating the Real Estate Lock-In Effect
Michael Gifford of Splitero examines homeowners who are “locked” into their homes due to the interplay of rising interest rates, rising home prices, and a lack of inventory.
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