Tag Archives: Jiayi Xu

The median rent of studios was still $206 (or 16.7%) higher than before the pandemic, which represents a significant jump that is only slightly smaller than that seen in larger units.

Freddie Mac reports a second week-over-week slide in the 30-year fixed-rate mortgage, as markets adjust to the Fed’s second consecutive pause in rate hikes. Here are the factors a Freddie Mac economist says are allowing the housing market to “remain stagnant.”

"With a record number of new units coming onto the market driving rent prices down, those who may have given up hope of homeownership may be able to leverage more affordable rental options—including downsizing to a smaller unit or considering a roommate for the near term—to help build savings for a future home," said Jiayi Xu, Economist at Realtor.com.

“Incoming data shows that the construction of new homes rebounded in September, but as rates keep rising, home builders appear to be losing confidence,” said Freddie Mac Chief Economist Sam Khater. Check out the data and further insights after the link.

Through an analysis of U.S. Census Bureau data, the National Rental Home Council reports a 5.3% year-over-year increase of households moving into single-family rentals.

Mortgage rates rose 18 basis points week-over-week according to Freddie Mac, forced upward by the trajectory of the 10-year Treasury yield, shifts in inflation, and the labor market.

After the fixed-rate mortgage hit levels recorded 21 years ago, Freddie Mac reported a five-basis point week-over-week slip in rates, and despite continued high rates, the nation’s short supply is keeping house prices steady.

Not since spring of 2002 have fixed-rate mortgages been as high as they were reported this week, and when combined with mortgage app volume sliding for the fourth straight week, affordability headwinds continue to impact housing demand.

Realtor.com has found that more than 60% of all listing page views from the top 100 metros went to homes located outside the metropolitan areas where shoppers live.

Active housing inventory was reportedly 49.2% below typical pre-pandemic July levels, as Realtor.com reports that on a typical day in July, there were 45,000 fewer homes available to buy year-over-year.