Although homes are staying on the market longer compared to last year, numbers are still moving faster than pre-pandemic norms. Meanwhile, homebuyers nationwide are pulling back or halting their home searches due to affordability constraints.
Read More »Mortgage Rates Eclipse 7%
For the first time since April 2022, mortgage rates have surpassed the 7% mark, with many potential buyers now waiting to see where the market is headed, thus pushing home prices further downward.
Read More »Residential Construction Falls 8.1% Month-Over-Month
Single-family starts in 2022 are projected to hit an 11-year low, as builder confidence falls to its lowest level in more than a decade.
Read More »Rent Growth Expected to Moderate Further Into 2023
While rising supply is causing rent growth to slow, Redfin’s latest market report revealed rent growth experienced its first single-digit increase in a year, marking a significant slowdown from the estimated 20% growth in Q1. Here are the latest findings.
Read More »Sharp Decrease in Demand Driving Housing Market Cooldown
While declining demand led to a nearly 20% decrease in new listing volumes in September, the volume of price drops is up 83.2% compared to the same time last year. Click through to learn more from HouseCanary's latest Market Pulse report.
Read More »Comparing Pre-Pandemic Levels to Current Market Conditions
First American Financial Corporation released First American’s proprietary Potential Home Sales Model (PHSM) for March 2022, showing that potential existing-home sales decreased to a 5.97 million seasonally adjusted ...
Read More »Closings Inch Down Ahead of Anticipated Spring Surge
RE/MAX released its National Housing Report for February 2022, revealing home sales fell approximately 1% from January, planning for what is typically the year's biggest month-over-month incline in ...
Read More »Homeownership Tenure Increases Nearly 34%
According to a new report from Redfin, the typical American homeowner in 2021 had spent 13.2 years in their home—down slightly from the peak of 13.5 years in 2020, but ...
Read More »Millennial Demand Continues to Fuel Housing Market
First American Chief Economist Mark Fleming discusses the strengths of the housing market, and the heightened millennial demand fueled by low rates.
Read More »Mortgage Apps on the Rise as Rates Level Off
Mortgage applications rose 1.8% week-over-week, as the 30-year fixed-rate mortgage held steady at 3.10% as more took advantage of continued low rates to refinance.
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