Even as mortgage rates descend and the housing market settles into a stable rhythm, the pressure is building for some homeowners carrying heavy financial burdens. Negative equity is on the rise in some areas of the country, at the same time that student loan debt and short-term financial uncertainty are becoming more prominent, according to…
Home price appreciation dipped back to late 2024 levels after experiencing an uptick in January. Prices rose by 3.9% YOY in February, down from January’s 4.1% and on par with December’s 3.8%, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index. The 10-City Composite increased annually by 5.2%, down from 5.4% the previous…
Single-family home price growth slipped in the second quarter of 2024, reflecting a slowly shifting market dynamic. Prices rose 6.9% from Q2 2023 to Q2 2024, down from Q1’s revised YOY growth of 7.3%, according to Fannie Mae’s Home Price Index. Quarter to quarter, prices were up 1.3% after seasonal adjustment, down from a 2%…
Annual home price appreciation continued its upward trend in February, accelerating on both an annual and monthly basis. Prices were up 6.4% YOY, an increase from January’s 6% gain and the fastest annual rate since November 2022, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index. Month-over-month data showed prices on an upswing…
The cost of buying a home hit another record high as rising rates intersected with home price growth. The median U.S. home sale price increased 5% YOY to $380,250 during the four weeks ending April 14. This is just a few grand below June 2022’s all-time high. At the same time, mortgage rates have jumped…
Home sale prices went up last quarter due to high competition in budget-friendly markets. The National Association of Realtors’ latest quarterly report found that single-family existing-home sales prices increased in 152 of 221 metros — about 70% — in Q1 2023. The monthly mortgage payment on a typical existing single-family home with a 20% down…
Rate lock volumes increased across the board in January, finally breaking a nine-month downward streak, as buyers began stepping out before the spring season. Lock volumes rose 32% last month, according to Black Knight’s Originations Market Report. “Mortgage rates declined in January, continuing a trend that began in early November 2022. Conforming rates dropped 36…
Home sales plummeted by 35% in November but there are early signs that demand may be picking up. Redfin’s latest data found that home sales dropped 35.1% YOY in November on a seasonally-adjusted basis. High buying costs kept both buyers and sellers on the sidelines. “Rates have declined significantly over the past six weeks, which…
Mortgage loan application volume rose again, with refinances up 6% as interest rates hit a three-month low, according to the Mortgage Bankers Association’s weekly survey. Refinances remain 85% lower than the same time last year, however, comprising 31.3% of total applications. Purchases took a hit with the adjusted purchase and unadjusted purchase indices down by…
Home price drops are up more than 95% from last year as the market cooldown continues into fall, according to HouseCanary’s latest Market Pulse report. The report compares data between August 2021 and August 2022 and is an ongoing review of insights from HouseCanary’s platform. The data shows that the monthly nationwide supply continues shrinking…
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