“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
Homes are still selling, but the ongoing market shift is giving homebuyers more and more leverage everyday, agents and economists told Inman this week. Continue reading
U.S. homes, on average, spent 19 days on the market during the four weeks ending July 17, a full day longer than the same period in 2021, according to data released Thursday by Redfin. Continue reading
Out of 1,000 homeowners and 1,000 renters participating, 56 percent or six of every 10 Americans think “right now” is a great time to buy a home, according to OnePoll on behalf of mortgage lender Lower. Continue reading
In the month of June, just under 50 percent of home offers written by its agents faced competition on a seasonally-adjusted basis, the lowest rate in over two years, the brokerage reported. Continue reading
Sales of existing homes ticked down 5.4 percent between May and June, falling 14.2 percent from a year ago, as median prices rose to $416,000, according to the National Association of Realtors. Continue reading
Decline in purchase applications aligns with slower homebuilding activity due to reduced buyer traffic and ongoing building material shortages, according to the Mortgage Bankers Association. Continue reading