Tag Archives: Mortgage Rates

While overall sales declined 22% from a year ago, existing-home sales dipped lower in March after month-over-month sales declined in three out of four major U.S. regions, according to a new report from the National Association of Realtors.

As elevated mortgage rates curtailed homebuyer demand, a lack of homes for sale also limited home purchases, according to a new report from Redfin.

A new report from Zillow has found that younger generations still believe owning a home is part of the American dream but believe they might need to win the lottery in order to achieve that dream.

"As expected, the annual rate of increase in home prices has slowed dramatically in response to the rapid and significant increase in interest rates," said Doug Duncan, SVP and Chief Economist at Fannie Mae.

According to a new report from the National Association of Realtors, middle-income homeowners gained more than $120,000 in wealth over the past decade, as homeowners who benefited from home price appreciation were able to drop their debt by 21%.

Both home sellers and homebuyers continue to struggle to navigate the market, with a new seller survey from Realtor.com revealing that home prices are up 7.8% from last year.

As homebuyers' perception of the economy and affordability continue to worsen, nearly 40% of Americans planning to buy their first home in 2023 revealed now is a good time to buy, as many continue to search for homes and save for downpayments.

Even as mortgage rates edge closer to the 6% mark, homebuyers nationwide are faced with the prospect of low inventory, with new listings having fallen 21.8% year-over-year nationwide.

While the share of adults behind on rent surpassed eight million nationwide, a new LendingTree study revealed an estimated 3.6 million Americans currently live rent-free, another financial alternative to combating inflated housing costs.

A reluctance to sell means that increase has not yet translated to home sales, experts from Redfin report.