Tag Archives: Realtor.com

“Weakening home price growth for the past 12 months is increasing the odds that we may not see a new home price peak this year, for the first time in the history of our listing data, which dates back to mid-2016, and this is likely welcome news to homeshoppers," said Danielle Hale, Chief Economist for Realtor.com.

“The modest increases in home prices we saw a month ago accelerated in March 2023,” says Craig J. Lazzara, Managing Director at S&P DJI. “The National Composite rose by 1.3% in March, and now stands only 3.6% below its June 2022 peak.”

“Although buyers, sellers, and builders are all more optimistic about the housing market, asking home price growth is easing and the typical home sales price is slipping. These point to the nudge that buyers need to act on their improving outlook,” said Realtor.com Chief Economist Danielle Hale.

Freddie Mac reports a week-over-week rise of 18-basis points in mortgage rates, further contributing to a sluggish and slow spring season for the national housing market.

Freddie Mac reports that, after retreating for two consecutive weeks, the 30-year fixed-rate mortgage edged back upward this week, nearing the 6.40%-mark, and forcing app volume downward.

"Home sales … remain above recent cyclical lows," said National Association of Realtors Chief Economist Lawrence Yun, who noted that economic factors were creating “an environment of push-pull housing demand.”

"In April, we continued to see rising rent prices and a moderating growth rate. This is promising news for renters, suggesting that the pandemic peaks are behind us, and that the challenging affordability picture may begin to improve," said Realtor.com Chief Economist Danielle Hale.

Prospective spring home buyers have responded to a second straight week of falling rates according to Freddie Mac, as they pounce on the nation’s limited housing supply, and have driven app volume upward.

Despite the Fed continuing to raise interest rates, overall mortgage refinance application volume rose 10% week-over-week, hitting levels last seen in September of 2022.

Freddie Mac reports that mortgage rates slid this week after two consecutive weeks of gains, amid both the failure of yet another bank and another rate hike from the Federal Reserve.