Elevated mortgage rates and home prices have made sellers leery about listing this spring. As a result, 50 percent of homesellers said they’ll be aligning their sales with a late-year rate drop. Continue reading
A buyer with a monthly budget of $3,000 can now purchase a home worth approximately $453,000 — up from $416,000 in October when mortgage rates reached a record of 7.8 percent, according to Redfin. Continue reading
Undeterred by elevated mortgage rates, homebuyers battling over scant inventory pushed June’s median sales price to the second-highest level in history, according to new data released Monday by Redfin. Continue reading
As uncomfortable as New York City’s rent hikes feel to many tenants now, they don’t compare to the soaring prices of Singapore’s prime rental market, The Wall Street Journal reported. Continue reading
The median rent in Manhattan climbed to a new high of an astounding $4,175 per month, according to Douglas Elliman and Miller Samuel’s March 2023 New York City rental report. Continue reading
Past periods of high inflation and high rates — be it in 1979, 1980 or 1990 — have caused the housing market to stall. But they also didn’t crush it forever, according to an Inman analysis. Continue reading
Leaders and agents who took Inman’s first Intel leadership survey said inventory is among their biggest challenges right now — but growing in 2023 isn’t out of the question. Continue reading
The CEO was unapologetic about her mantra “old school is the best school,” while acknowledging that the ability to evolve while keeping agents and clients at the forefront have contributed to the brokerage’s longevity. Continue reading
Luxury buyers finally decided to take a pause in 2022 as economic volatility shook the market. But despite a market slowdown, luxury companies and agents continued to make interesting moves. Continue reading
Soaring mortgage rates, slagging sales, thousands and thousands of layoffs: The past 12 months have offered a jarring reminder that what goes up must come down. Continue reading