...partly because the number of existing homeowners putting their houses up for sale has decreased as mortgage rates have surged to a 23-year high of roughly 8%. High mortgage rates...
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Nearly Half of All Americans Believe Now is a Bad Time to Buy
...it’s a bad time to buy a home, and about a third say they’ll never be able to afford their dream home. With homes in short supply, many homeowners are...
Read More »Updated Home Price Index Report Reveals It’s Better to Rent—For Now
...a home includes taxes, repairs, homeowner’s insurance and the monthly mortgage principal and interest payments. To calculate the monthly cost of homeownership, our analysis assumes the potential buyer is taking...
Read More »HUD Issues New Guidance on Reverse Mortgages
...more than 60,000 senior homeowners who choose to obtain a HECM to age in place in their own homes each year. “Home Equity Conversion Mortgages are one of the strongest...
Read More »Midwest Markets Gaining More Popularity
...Potential homebuyers are facing not only higher housing costs but also a scarce and dwindling housing supply. Many homeowners are hanging onto a mortgage loan at a lower rate than...
Read More »YoY, MoM Increases in Home Prices: Now at All-Time High
...in many markets suggests that first-time home buyer demand remains resilient despite significantly lower affordability," said Fleming. “As of 2022, more than half of all millennial households were homeowners, but...
Read More »The Week Ahead: Zeroing in on the Roots of Appraisal Bias
...Witness testimony included homeowners with first-hand experience in receiving an undervaluation of their home, as well as academic research on the causes of appraisal bias. The purpose of the hearing...
Read More »New Listings Up, But Homebuyer Budgets Hampered by Rising Home Prices
...the first increase since July 2022, according to a new report from Redfin. More homeowners are putting their homes on the market as mortgage rates remain elevated near 8%. Some...
Read More »How Many U.S. Regions Reported YoY Declines of Pending Home Sales?
...home builder sentiment fell to the lowest level since January this month as builders expressed concern over the growing number of buyers priced out of the market. Builders and homeowners...
Read More »Continued Mortgage Rate Hikes Subduing Homebuyer Demand
...of 676,000, and 33.9% above the September 2022 estimate of 567,000. And despite the ascent in rates, many buyers are making homeownership possible in lieu of the high rate environment....
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