Speaking at NAR’s Real Estate Forecast Summit on Wednesday, Chief Economist Lawrence Yun said “inventory is turning” and the housing market is heading back toward a pre-COVID normal. Continue reading
Despite national growth in sale prices, these markets that saw spikes in popularity and price over the past two years are starting to see the most price reductions, data shows. Continue reading
Fed Chairman Jerome Powell hinted Wednesday that the U.S. central bank is looking to dial back the pace of interest rate hikes as soon as the impact of previous increases shows up in inflation data. Continue reading
In as much as economists expected rates to rise this year, nobody anticipated how fast they would rise. So what went wrong? Matthew Gardener, chief economist for Windermere Real Estate, lays out what happened and what’s next. Continue reading
Pending home sales dropped 8.6 percent in June, suggesting a drop in home closings just around the corner, according to figures released Wednesday by the National Association of Realtors. Continue reading
Florida and California are most at risk of experiencing a housing downturn during a recession, according to Redfin. Both states saw exorbitant growth during the pandemic-fueled buying rush. Continue reading
“In the next half of the year, buyers are in a rare position to negotiate prices and deal terms,” a new Canadian luxury market report from Engel & Völkers stated. “Some homes will still command multiple offers, but they will be fewer in number.” Continue reading
The former Zillow CEO said the rising cost of mortgages has cooled demand for homes, adding that he hopes in 2023 the Fed will be able to stop raising interest rates. Continue reading
Mortgage rates began to take a toll on price growth as early as this spring. But prices remained more resilient than other market indicators, according to the S&P Corelogic Case-Shiller Index. Continue reading
Sales of new homes in June were at a seasonally adjusted rate of 590,000, according to the U.S. Census Bureau, 8 percent below the May rate of 642,000. Continue reading