...and refinance activity declined. The Purchase Index fell for the fourth consecutive week, as homebuyers continue to struggle with low for-sale inventory and elevated mortgage rates.” The MBA reported that...
Read More »Search Results for: inventory
Home Prices Hit Record Highs in 60% of Major Markets
...peaks at the national and local levels with no end in sight to the constrictive lack of for-sale inventory driving the price increases. As Black Knight Vice President of Enterprise...
Read More »Rental Market Experiences Significant Increases in Prices, Listings
HouseCanary, Inc. released its latest National Rental Report, showing that overall listing inventory is up 70% year-over-year and days on market are up 50% year-over-year. New data revealed that median...
Read More »Lock-In Effect Keeping Home Prices Elevated
...supply and demand, as inventory remains low due to the lock-in effect. The total number of homes for sale is down 19%, the biggest drop in a year and a...
Read More »Is This the End of the Starter Home?
Decades ago, young Americans with homeownership dreams had options. Save a few paychecks and one could choose from an obliging inventory of affordable starter homes. In more recent years, that...
Read More »Are We Approaching a ‘Double-Dip’ Housing Recession?
...the bulk of total inventory, and existing homeowners are not selling. Potential home buyers are still contending with higher mortgage rates and a limited inventory of homes for sale. “R...
Read More »Housing Inventory Crunch Accelerates in July
...ago levels (-6.4%) for the first time since April 2022. While buyers had fewer for-sale options, with active inventory 49.2% below typical pre-pandemic July levels, the market tipped slightly in...
Read More »Government Credit Rating Downgrade Forces Uptick in Mortgage Rates
...have increased due to very low unsold inventory.” Earlier this week, Fitch Ratings downgraded Fannie Mae's and Freddie Mac's Long-Term Issuer Default Ratings (IDR) and senior unsecured debt ratings to...
Read More »Purchases by International Investors Down For Second Year in a Row
...U.S. existing-home sales totaled 5.03 million in 2022, down 17.8% from 2021. “Sharply lower housing inventory in the U.S. and higher borrowing costs across the world have dented international buyers...
Read More »Limited Inventory Weakens Conventional Purchase App Activity
...driven mainly by weaker conventional purchase application volume, as limited housing inventory and rates still close to 7% are crimping affordability for many potential homebuyers. The refinance market continues to...
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