While households nationwide continue to struggle with the increased cost of living, doxoINSIGHTS’ 2023 State by State Bill Pay Market Report revealed the average American is spending almost $25,000 per year on household expenses, with 73% of consumers reporting that inflation is currently impacting their ability to pay bills.
Read More »California Metros Lead in Highest Share of Million-Dollar Homes
San Jose and San Francisco, notoriously high-cost areas, make up a majority share of homes in California, according to a new analysis from LendingTree. Click through to see which metros where million-dollar homes are most prevalent.
Read More »June Listings Lag, Hampering Home Sales & Shoring Up Prices
Despite the early-June underperformance, Redfin reports that home-tour numbers indicate pent-up demand that should translate into improved sales once mortgage rates drop.
Read More »Credit Availability Tightens as Demand Shrinks, Rates Rise Again
As affordability struggles worsen for homeowners and buyers nationwide, for-sale inventory is now at its lowest level since April 2022, according to Black Knight's latest Mortgage Monitor Report for April.
Read More »Housing Payments Hit New High as Rates Surpass 7%
Monthly housing payments have reached a record-high of $2,614, as mortgage rates climbed to 7.12%, pricing out many homebuyers with tight budgets, according to Redfin.
Read More »Homebuyers Are Becoming More Selective
“Buyers today are way more demanding and selective. They’re willing to wait to find the perfect house, which wasn’t the case during the pandemic homebuying boom,” said Elena Fleck, a Redfin real estate agent in Palm Beach, Florida.
Read More »Homebuyers’ Monthly Payments Hit All-Time High Amid Rising Rates
Inflated mortgage rates and home prices pushed monthly housing payments to a record high of nearly $2,600, according to a new report from Redfin.
Read More »Home Sellers Retreat From the Market Amid Increasing Inventory Shortage
While inflated home prices continue to dampen demand, home sales fell to a more than seven-year low in January, as rising rates continue to weaken home affordability.
Read More »Weekly Mortgage Rates Swing Up Again
“Mortgage rates moved up for the second consecutive week,” said Sam Khater, Freddie Mac’s Chief Economist. “The economy is showing signs of resilience, mainly due to consumer spending, and rates are increasing.”
Read More »Mortgage Rates Key Statistic in 2023
Mortgage rates will be key in 2023 according to Redfin, which predicts that relatively high rates will likely result in the slowest housing-market year since 2011.
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