Real-estate investors shook up a mid-pandemic homebuying boom by going toe to toe with first-time buyers and cutting down the competition with all-cash offers, but in a market correction, many are now pulling back. Mortgage rates are soaring, rental prices are beginning to fall, and waning buyer demand is forcing investors to reconsider their target…
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About one-third of all homes in the for-sale market are newly built, and despite skyrocketing prices leaving a growing share of house hunters without affordable options, new construction could offer some benefits, according to Realtor.com. Not only are new homes customizable, but they also rarely need repairs or renovations, meaning that maintenance costs will be…
The Nov. 8 midterm elections determine which party controls the House and the Senate for the next two years, and the results could have major implications for the housing market at a pivotal point in its post-pandemic slowdown. If Republicans gain control of the House, a first-time buyer tax credit that would give first-time homebuyers…
Demand for larger homes skyrocketed throughout the pandemic as homeowners hunkered down and created at-home spaces for work and hobbies, but as professionals return to the office and businesses reopen, some Americans are opting to downsize. Those looking to cut down their square footage can find the smallest homes in metro areas like Long Island…
Mortgage rates briefly surged to a 20-year high last week, and as more prospective buyers are priced out of home purchases, economists warn that the housing market may be headed full speed ahead toward a recession. While a sudden slowdown could cause price drops of 10% to 15% nationally, strong employment gains and equity cushions…
After a steep drop in new housing starts in July, construction rebounded in August, rising a seasonally adjusted 12.2% to 1.58 million, Realtor.com reports. Starts are still well below the 1.81 million level seen in April, but the construction pace of single-family homes rose 3.4% in August, while apartments rose 28.6%. Single-family construction in the…
Home sales are slowing across the nation as prices continue to register double-digit growth on an annual basis, but according to Realtor.com, runaway real estate inflation may finally be slowing. While home prices rose for the 39th straight week at the start of September, a growth measurement of 11.9% during the week ending September 10…
Inflation is chipping away at consumer spending on everything from housing to gas and groceries, but that doesn’t mean homeowners are pressing pause on home renovations. Instead, the national median spent for primary bathroom remodels rose nearly 13% to $9,000 over the past year, while higher-budget projects at the top 10% of spending leapt 17%…
After soaring to a peak high of $450,000 in June, home prices are finally beginning to fall, giving long-delayed homebuyers an upper hand when it comes to negotiation in a cooling seller’s market. National prices dropped from $449,000 in July to $435,000 in August, the largest month-to-month decline in data history dating back to 2016,…
U.S. pending home sales fell 1% in July amid economic uncertainty and higher mortgage rates, but activity increased from June, when sales were down 8.6%, Realtor.com reports. The latest decline marks the eighth time pending home sales have fallen in the last nine months, but as mortgage rates show signs of stabilizing, buyers could soon…