Homebuyers backed out of deals at the highest rate on record in October, driving more home sellers to lower their prices and offer concessions to entice home shoppers. A new Redfin report revealed that a spike in new listings drove pending home sales to their highest level in a year.
Read More »Competition for Shrinking Inventory Fuels Faster-Selling Homes
A new Point2 study revealed homes are selling at a much faster pace than they did last year, flying off the market as increasing housing competition and dwindling inventory drive homebuyers to snatch up the limited options available.
Read More »New Home Purchase Mortgage Applications Surged in October
More home sellers are offering concessions to draw in buyers, in part fueling purchase activity, which jumped nearly 40% in October compared to a year ago. Read the full breakdown of data in the MBA’s latest Builder Application Survey.
Read More »Home Sellers’ ‘Suppliers’ Strike’ Holding Back U.S Housing Supply
As home prices hit a new peak for the seventh consecutive month in October, sellers continued their "suppliers’ strike," further constraining the market, according to First American's latest Home Price Index report.
Read More »A Positive Outlook: Homeowners Optimistic About Increasing Equity
While homeowners continue to gain equity and remain increasingly excited to do so, TD Bank’s 2023 Home Equity Trend Watch survey revealed that nearly 40% of homeowners who plan to renovate their home in the next two years are using or plan to use a HELOC for their upcoming home projects.
Read More »Soaring Down Payments Restrict Homebuyers Nationwide
While limited supply remains one of numerous challenges for homebuyers, a new Realtor.com study revealed down payments hit a new peak in Q3, fueled in part by October mortgage rates hitting their highest levels in more than two decades.
Read More »Examining the Benefits of Home Improvement Loans
While they can be costly, home improvements are a necessary part of homeownership for many. As many homeowners don't have cash on hand to put toward their home projects, a new LendingTree study revealed where and how common home improvement loans are throughout the U.S.
Read More »Home Sellers Drawing in Buyers With Concessions
As homebuyer demand cools as a result of October mortgage rates hitting their highest level in over two decades, a new Redfin report showed that the share of home sellers offering concessions to attract more buyers is increasing, as some experts say house hunters are "pickier than ever before."
Read More »Home Values Falling in Most of the U.S.
The latest Zillow Home Value Index revealed that despite mortgage rates hitting a 23-year high, housing demand has remained resilient, but home values are dropping nationwide as the market continues to cool.
Read More »Significant Lack of Inventory Adds to Barriers of Black Homeownership
A new NAREB study showed the ongoing housing shortage remains a challenge for Black homebuyers in the U.S., compounding factors such as lower median incomes, unfavorable housing market conditions, and institutional bias.
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