Home affordability improved as mortgage rates dipped, bringing the monthly mortgage payment on a typical single-family home with a 20 percent down payment to $2,137 — a 5.5 percent decrease from Q2, though still up 2.4 percent year over year. Continue reading
San Jose, California, a major tech hub, tallied single-family existing-home prices exceeding $2 million in 2Q for the first time since the National Association of Realtors began tracking home prices in 1979. Continue reading
Elevated mortgage rates continued to curb homebuyer activity in May, NAR reported. As inventory increases in upcoming months, slower home price growth will follow, and likely more buyers hitting the market. Continue reading
Fueled by positive job growth and an increase in available housing, the National Association of Realtors’ Pending Home Sales Index rose 1.6 percent in February, according to data released Thursday. Continue reading
A rising tide of economists are backing away from early forecasts that the U.S. is very likely to enter a recession later this year or by the first quarter of 2024. But some still see dark clouds ahead. Continue reading
In a positive sign for the real estate industry — and the spring homebuying season — pending home sales rose in December for the first time since May 2022, increasing 2.5 percent from November. Continue reading
This week, Byron Lazine and Nicole White discuss NAR chief economist Lawrence Yun’s recent testimony to Congress and 2022’s biggest residential real estate transactions (so far). Continue reading
Pending home sales dropped 3.9 percent from March to April, marking the sixth-straight month of declines amidst climbing mortgage rates, according to data released Thursday from NAR. Continue reading
Existing-home sales decreased by 2.4 percent from March and 5.9 percent from the year before as declining affordability continued to put off homebuyers, according to the National Association of Realtors. Continue reading
Pending home sales dipped for the fifth-straight month in March, with the Pending Home Sales Index dropping 1.2 percent from February to 103.7, according to the National Association of Realtors. Continue reading