Tag Archives: Hannah Jones

“Today’s data signal that home sales activity is likely to remain steady, at a low level, over the next few months as limited options and significant affordability challenges weigh on buyers,” said Realtor.com Senior Economic Research Analyst Hannah Jones.

A drop of just three basis points in the 30-year fixed rate mortgage provided little relief to prospective buyers, as ambiguity around monetary policy will likely continue to stall improvements in the housing market through the end of the year.

"Because of homebuilders' ability to create more inventory, new-home sales could be higher this year despite increasing mortgage rates. This underscores the importance of increased inventory in helping to get the overall housing market moving," said Lawrence Yun, NAR’s Chief Economist.

As we head into Halloween, mortgage rates continue to edge closer to the 8% mark, resulting in the longest consecutive rate rise reported since the Spring of 2022. Click through to see what else buyers may fear as we enter the final months of 2023.

Freddie Mac reports the 30-year fixed-rate mortgage rose to an average of 7.57% this week, as purchase demand remains at a three-decade low.

NAR reports that pending home sales dropped in all four U.S. regions month-over-month and compared to one year ago, as mortgage rates above 7% continue to impact homebuying.

[5:35 PM] David Wharton The latest S&P CoreLogic Case-Shiller Index breaks down "the impact of waning inventory on home prices, which maintained strength despite ongoing affordability challenges." Click through to learn which markets are performing the strongest.

Freddie Mac reports mortgage rates still in excess of the 6.75% mark, as home buyers are increasingly turning to new construction to secure a home, and home builders are responding by picking up the rate of construction.

A slowdown in inflation caused the 30-year, fixed-rate mortgage to take an 18-basis point week-over-week plunge after nearly crossing the 7%-mark the week prior.

“The modest increases in home prices we saw a month ago accelerated in March 2023,” says Craig J. Lazzara, Managing Director at S&P DJI. “The National Composite rose by 1.3% in March, and now stands only 3.6% below its June 2022 peak.”