Tag Archives: Inflation

A new study from Redfin revealed Americans are now hesitant to sell their homes as mortgage costs soar, due to many having low interest rates locked in amid nationwide inflation and ongoing economic uncertainty.

Lasting more than a decade, the longest-running home price boom has come to an end, as new Research from American Enterprise Institute showed significant price declines from record peaks in almost all of the nation's 60 largest metros.

A recent Bank of America survey revealed that as inflation persists, an estimated 75% of young adults are seeking more ways to earn additional income, as challenges of achieving their financial goals remain constrained.

“Home sales are projected to hit a trough in Q2 2023, at a selling pace of 4.27 million annualized units, as the full effect of higher mortgage rates and the projected recession take hold,” according to a new Fannie Mae forecast.

“The historic drop in mortgage rates is a tick in the ‘good news’ box for the housing market, as lower rates deliver an immediate win for prospective buyers’ pocketbooks,” said Taylor Marr, Redfin’s Deputy Chief Economist.

With news that inflation may have peaked, Freddie Mac reports that the fixed-rate mortgage fell below the 7% mark, leading to a slight rise in overall mortgage app volume for the week.

Are the nation’s renters preparing to buy a home? New data from Realtor.com shows that may not be the case as affordability issues remain. 

“Demand for rentals is slowing because economic uncertainty is prompting many renters to stay put, and persistent inflation is shrinking renter budgets. That’s causing rent growth to cool,” said Taylor Marr, Redfin’s Deputy Chief Economist.

A new Redfin analysis revealed homebuyers nationwide must earn even more money than they did a year ago in order to purchase a typical U.S. home.

According to House Method’s most recent servicemember survey, respondents remained relatively optimistic about their chances of buying a house while being in the military.