In projections released Monday, economists expect 5.78 million homes to change hands this year, representing a 16.2 percent decline from a year ago — a steeper drop than the 15.6 percent pullback forecast in July. Continue reading
Home sales were down 19 percent year over year in July, a sign the pandemic-era boom in housing demand may be in the rearview mirror, according to new data released Monday by Redfin. Continue reading
Redfin said it expects rental growth to continue to slow, but markets with strong job growth and limited new housing construction will likely continue to experience large rent increases. Continue reading
The Appraisal Foundation’s Appraisal Standards Board says it needs more time to assess proposed changes designed to close the door to discrimination. Continue reading
Are we in an economic recession or a market-imploding housing recession? This week, Byron Lazine and Nicole White discuss the impact of low builder confidence, the changing real estate industry and politics from left, right and center. Continue reading
“While July’s housing market data update is big news, and could get first-time buyers’ hopes up, the future is unlikely to bring meaningful improvement to housing affordability,” Zillow’s latest market report reads. Continue reading
“Inventory remains tight and prices continue to rise nationally with nearly 40% of homes still commanding the full list price,” said NAR’s Chief Economist Lawrence Yun. Continue reading
In China, most recent buyers of new apartments took out mortgages before their buildings were finished. Now many are threatening to not pay. Continue reading
High mortgage rates, challenging affordability and a gloomier economic outlook are keeping buyers on the sidelines, Mortgage Bankers Association forecaster Joel Kan said. Continue reading
More buyers have been backing out of deals than at any time since the early weeks of the pandemic. And in July, that share ticked up again, according to a new report from Redfin. Continue reading