Despite rising mortgage rates and limited housing inventory, many U.S. buyers are rushing to close deals in a select number of regional markets. Nationally, the median home listing spent 49 days on the market during the first week of October, only slightly less than the previous year, according to Realtor.com. But some areas are experiencing
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As the debate over the U.S. housing market's valuation intensifies, real estate experts are divided on whether home prices are too high. While some anticipate a downturn in prices, others argue that current high prices are justified due to strong demand and limited inventory. A recent analysis by Florida Atlantic University and Florida International University
High mortgage rates are driving a housing market slowdown and leading to reduced home sales and a dwindling supply of available listings. Many sellers are reluctant to give up their low mortgage rates secured during the pandemic, exacerbating the inventory shortage, driving up home prices, and leading to bidding wars, Realtor.com reports. While there is
Single-family construction rose 21.7% in May, as demand for new-construction increased amid a drop in existing homes coming onto the market. Total housing starts rose to a 1.63 million annual pace last month from 1.34 million in April, even though economists were expecting a slight decline of about 0.8%. The May pace of construction was
Housing Markets Homes in This Boomtown Are Selling Within Just 11 Days Homes in some of the nation's hottest housing markets sold in less than two weeks during May June 20, 2023 Image: Loud Canvas Media / stock.adobe.com Continue Reading The Northeast was home to 13 of the nation’s top 20 housing markets in May
Roughly 1 in every 4,000 homes had a foreclosure filing in May, a 7% increase from April and a 14% annual gain. That uptick corresponds with the end of a federal moratorium that suspended foreclosures during the COVID-19 pandemic. Homeowners who have been late on their mortgage payments for the past few years are now
For the first time in years, annual home list prices are posting negative growth, and housing markets that saw the biggest gains during the pandemic are among the first to see the biggest declines in a 2023 correction, Realtor.com reports. With mortgage rates hovering in the 7% range, housing experts anticipate more home price reductions
Market Data + Trends Three-Quarters of US Buyers Expect to Be Priced Out of the Housing Market Homebuyers are growing increasingly pessimistic about the for-sale market as mortgage rates and home prices continue to climb June 7, 2023 Image: Nick / stock.adobe.com Continue Reading A recent survey by Realtor.com and research company Censuswide reveals that
Financing FHA Introduces Plan to Help Mortgage Borrowers With Monthly Payments The Federal Housing Administration is working to reduce monthly payments for homeowners struggling to pay their mortgages by introducing a new payment supplement program June 1, 2023 Image: yellow_man / stock.adobe.com Continue Reading The Federal Housing Administration (FHA) proposed a plan on Wednesday to
Affordability A Lack of Listings Is Driving Up Home Prices Despite fast-rising mortgage rates, home prices continue to rise as hesitant home sellers retreat, limiting the supply of homes for sale May 31, 2023 Image: Oleksandr / =stock.adobe.com Continue Reading Home prices continued to rise in March as a largely absent share of home sellers