Affordability continued to hamper first-time buyers looking to purchase a home during Q3. A new report revealed single-family existing-home sales prices grew in nearly every metro analyzed, with the national median home price climbing nearly 9% from 2021.
Read More »Lenders React to Rate Hikes, Decreasing Demand
According to a new report by J.D. Power, mortgage lenders are struggling to stand out as demand continues to plummet and rates increase, resulting in higher customer expectations and increased competition.
Read More »Southwestern States Gain Independents During Pandemic Housing Boom
Many Americans who were priced out of California moved in search of more affordable housing during the pandemic buying frenzy. The latest analysis from Redfin reports Nevada and Arizona lost Democrats but gained Independents as Californians migrated to majority-Republican states.
Read More »NAR Tech Survey: Fintech Apps Remain Effective Tools for Realtors
The latest NAR Report revealed eSignature, Lockbox, and MLS apps/technology as the three most impactful technology tools on Realtors’ businesses, with cybersecurity, 5G, and drones expected to have the biggest impact on real estate in the next two years.
Read More »Study Finds More Than Half of U.S. Considering a Move
The latest market analysis from CraftJack reveals that the number one reason Americans move is for a job, but many are seeking a lower cost of living and a warmer climate. Click through to learn which states Americans are most moving to and from, as well as why the cost of moving is deterring so many homebuyers.
Read More »Rent Growth Expected to Moderate Further Into 2023
While rising supply is causing rent growth to slow, Redfin’s latest market report revealed rent growth experienced its first single-digit increase in a year, marking a significant slowdown from the estimated 20% growth in Q1. Here are the latest findings.
Read More »Consumer, Median Mortgage Payments Rise in September
As escrow and title payments turned negative in 2022, new data from Bank of America showed that median mortgage payments rose nearly 9% in September, while total payments increased 10% year-over-year.
Read More »Housing Sentiment Slips Again, Nears Record Low
According to Fannie Mae's Home Purchase Index, the percentage of Americans that believe now is a good time to buy a home decreased alongside those who expect mortgage rates to go down in the next year. Meanwhile, the percentage who say it is a bad time to buy increased to 75%.
Read More »Potential Buyers Increasing Down Payments to Secure Homes
New data from Redfin's latest market report showed that homebuyers’ down payments doubled during the pandemic, and despite September revealing a slight decline from their peak in June, competition and increasing home prices continue to make it difficult for prospective buyers to afford homes.
Read More »Rent Growth Moderates for Third Consecutive Month
Rent growth is likely to keep slowing as rising interest rates continue to cool the economy, as asking rents climbed to a record high in August, while rent ...
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