Buyers and sellers continued to make waves in October, riding the high from September’s cooling rates and increased inventory. New listings lead to significant pending home sales bumps, with the biggest gains seen in Boston (+25.7%), San Diego (+22.1%), and Seattle (+50.5%), according to Realtor.com’s October Monthly Housing Report. The report notes that the rise…
Home sale activity is finally rising in some areas of the country as buyers take advantage of a cooling rate period. Pending home sales rose 2% YOY in the four weeks ending October 6, Redfin reported. This is the biggest increase in three years. Early-stage demand indicators are also improving, with tours and other buying…
The Federal Open Market Committee’s decision to not raise interest rates at its November meeting came as welcome news to the housing industry, leading to a dip in mortgage rates after a streak of increases. But industry analysts are still concerned about a housing recession. Analysts at Wells Fargo recently warned that a rate cooldown…
Pending home sales tanked in August, reversing a two-month trend of increases. NAR’s Pending Home Sales Index fell by 7.1% to a reading of 71.8 in July. An index of 100 is equal to the level of contract activity in 2001. “Mortgage rates have been rising above 7% since August, which has diminished the pool…
New home sales fell in June as new construction takes heat from rising interest rates, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development. Sales fell by 2.5% to a seasonally adjusted annual rate of 697,000, compared to May’s revised rate of 715,000. They were up 23.8% from…
By ERIN FLYNN JAY It is being speculated that once interest rates drop, a number of buyers will jump into the housing market, causing another surge in prices. We spoke to some industry leaders to get their take. Jessica Lautz, deputy chief economist and vice president of research at the National Association of Realtors, said…
After falling slightly the week before, mortgage rates shot right back up last week, continuing to fluctuate within the 6% range. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.39%, up from 6.35% the week prior. A year ago at this time, the 30-year FRM averaged 5.25%. The 15-year fixed-rate mortgage…
Net new listings and contract volume have officially declined for twelve straight months, according to new data from HouseCanary. HouseCanary’s latest Market Pulse report, which covers 22 listing-derived metrics and compares data between April 2022 and April 2023, shows market activity was significantly hindered in the first month of Q2. “As we enter May 2023,…
Existing-home sales dropped for the twelfth straight month in January, down .07% from December and 36.9% YOY, though the declines are milder than in previous months. Sales fell to a seasonally adjusted annual rate of 4.02 million from 4.00 million the month prior, according to the latest data from the National Association of Realtors. The South…
Pending home sales rose for the first time since May, breaking a six-month streak of declines, according to the National Association of Realtors. The Pending Home Sales Index increased by 2.5% between November and December. Year-over-year it dropped by 33.8%, an improvement over November’s 37%. All four regions saw pending sales fall YOY, but the…
End of content
End of content
Before You Go, Get the Latest News and UPDATES!
Stay Tuned!