Tag Archives: Markets & Economy

Home prices soared 20% annually in February. Analysts say we’ve peaked

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Home prices in February grew at the third-fastest annual pace in 35 years. Since then, experts have observed early signs of a cooling market. Continue reading →

The average Canadian home now costs double what it does in the US

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Between 2020 and 2022 Canadian home prices have surged 30 percent — an increase described as “nothing short of stunning” by economist Robert Hogue in a report for the Royal Bank of Canada. Continue reading →

New home sales hit 4-month low

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New home sales took an 8.6 percent hit in March as rising home prices and mortgage rates made homebuyers think twice before purchasing a new home, according to data released Tuesday from the U.S. Census Bureau Continue reading →

Bidding wars dip for first time in 2022 — but competition still fierce

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Agents still face tough conditions despite homebuyer competition, according to a new report from Redfin. Competition is slightly less tough. Continue reading →

Zillow changes tune on 2023 home values and sales. Here’s why

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Zillow now expects home value growth to reach 14.9% through March 2023, down from its previous estimate of 16.5% growth. What’s with the downgrade? Continue reading →

Foreclosures hit post-pandemic high during first quarter of 2022

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U.S. foreclosure activity hit a new high not seen since the start of the COVID-19 pandemic, as foreclosures continue to rebound following the lapse of federal moratoriums, according to data from Attom. Continue reading →

Existing-home sales drop for second month as buyer demand stalls

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Total existing-home sales dropped by 2.7% from February 2022 and by 4.5% from March 2021 to a seasonally adjusted annual rate of 5.77 million, according to the National Association of Realtors. Continue reading →

‘Modest recession’ eyed in 2023, Fannie Mae economists predict

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Home sales now expected to decline by 7.4 percent this year and 9.7 percent in 2023, a dramatic adjustment from March, when Fannie Mae forecast a 4.1 percent decrease in home sales this year and 2.7 percent in 2023. Continue reading →

US housing starts hit fastest pace in 16 years

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Privately owned housing starts increased 0.3 percent from revised February figures to a seasonally adjusted annual rate of 1.79 million, according to US Census Bureau data released Tuesday. Continue reading →

Builder sentiment falls again in face of rising interest rates

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Builder confidence dropped two points to 77 as builders contend with rising interest rates and costs, according to the National Association of Home Builders/Wells Fargo Housing Market Index released Monday. Continue reading →