Tag Archives: Northeast

"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.

According to a new report from Redfin, asking rents fell just 2% in the West but rose 5% in the Northeast and Midwest as supply increased and rents began to cool nationwide.

According to a new report from Zillow, renters of color are more likely to pay higher upfront costs when applying for a rental compared to white renters, while Black and Latinx renters were nearly twice as likely to submit multiple rental applications before securing a lease.

"Affordability is going to be the biggest factor in housing for 2023, but there's room for optimism on that front if mortgage rates recede," said Zillow Chief Economist Skylar Olsen.

According to the latest market report from ShowingTime, homebuyer foot traffic and in-person showings decreased from September, as rising rates and inventory challenges continue to discourage buyers from purchasing a home.

It seems some Americans see the holiday of thanks as a good chance to get a leg up– no turkey pun intended–on the home market competition.