Annual home price appreciation continued to slow in July as the affordability crisis kept the housing market locked. First American’s Home Price Index report found that prices were up 0.3% month-over-month and 5.3% year-over-year. The report tracks home price changes less than four weeks behind real-time at the national, state, and metropolitan levels. This is…
Buyers are paying less per month on housing than in April, and even better results are on the horizon. Redfin reports that the typical buyer’s housing payment was $2,588 during the four weeks ending August 11, almost $250 below April’s all-time high and up only 1% year-over-year. This is the smallest YOY increase in the…
Pending home sales recovered from an unexpected downturn in June, besting economists’ estimates. NAR’s Pending Home Sales Index rose by 4.8% month-over-month to a reading of 74.3 last month, jumping after May’s slip to its lowest level on record. An index of 100 is equal to the level of contract activity in 2001. This is…
Home prices broke records again in May despite appreciation cooldowns across the market. Prices were up 5.9% YOY in May, down from April’s 6.3% but still elevated, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index. With this increase, prices hit their eighth record high of the last year. Month-over-month, national prices rose…
Mortgage rates ticked up just slightly last week, staying essentially the same after a weeks-long slide. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.78%, up 1 bps from the week prior’s 6.77%. A year ago at this time, the 30-year FRM averaged 6.81%. The 15-year also rose to 6.07% from…
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%…
High rates and soaring prices are preventing many Americans from achieving the dream of homeownership, but current homeowners are optimistic about the housing market. TD Bank surveyed nearly 2,000 homeowners across the nation and found that a majority (67%) think buying a home is still attainable, while 38% plan to buy a new house in…
Home prices soared to new highs in April, once again breaking the month prior’s record, despite cool-downs across the market. Prices were up 6.3% YOY in April, down from March but still elevated, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index. With this increase, prices hit their seventh record high of the…
Home prices hit yet another all-time high as tight inventory keeps competition elevated. Prices were up 6.5% YOY in March, on par with the month prior and the sixth record high reached in the last year, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index. Month-over-month, national prices rose 0.3% after seasonal adjustment,…
Photo Credit: University of New Haven As the spring selling season continues, there are growing concerns about the state of the housing market. Mortgage rates remain high, inventory is low, and a new Gallup poll shows 76% of Americans they surveyed think it’s a bad time to buy a home. Writer Nicole Murray spoke with…
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