...to drop by 0.2%, making renting a more budget-friendly option than buying in most markets. A -14% year-over-year drop in inventory, as existing homeowners with low mortgage rates stay put....
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Home Values Falling in Major U.S. Cities Amid Market Cooldowns
...single-family price drop as well as the second-biggest condo price drop. This could be due to the fact that rising inventory is transforming Memphis into a buyers’ market. With a...
Read More »Will the ‘Seller’s Strike’ End, or Will Homeowners Give In?
Is 2024 the year that existing-home inventory will be unlocked or will the "sellers’ strike" continue? A new study from First American revealed the surge in mortgage rates from mid-2022...
Read More »Builder Sentiment Declines, But Experts Remain Optimistic
...and land developers, adding another headwind for housing supply in a market low on resale inventory. While the Federal Reserve is fighting inflation, state and local policymakers could also help...
Read More »Home Sales, New Listings Experience Seasonal Declines
Seasonal declines in home sales and new listings softened in October, according to a new RE/MAX report, while inventory grew for a seventh consecutive month across the 53 metro areas...
Read More »Mortgage App Volume Rises to Six-Week High
...Economist. “In recent weeks, rates have dropped by half a percent, but potential homebuyers continue to hold out for lower rates and more inventory. This dynamic is reflected in the...
Read More »Existing Home Sales Experience Nearly 15% YoY Drop
...of housing inventory and the highest mortgage rates in a generation," said NAR Chief Economist Lawrence Yun. "Multiple offers, however, are still occurring, especially on starter and mid-priced homes, even...
Read More »Mortgage Purchase Applications on the Rise YoY
A new market update report from Redfin finds that both buyers and sellers are in a conundrum; a venerable ‘chicken or the egg’ situation due to an uptick in inventory,...
Read More »Will Stormy Commercial Real Estate Conditions Soon Clear?
...borrowing, because they're cutting back on spending. Second, good inventory—or products produced—is increasing, but goods are not being purchased. Thus, there's concern for future GDP." Yun said unemployment rates are...
Read More »Competition for Shrinking Inventory Fuels Faster-Selling Homes
As U.S. housing markets across the nation are cooling down and continue to recover from record-low inventory, home prices in the most exclusive ZIP codes have increased, according to a...
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