As buyer demand pulls back, inventory is increasing, causing houses for sale to pile up on the market with nowhere to go. Redfin reported that there are five months of for-sale supply on the market, up from 4.4 months at the same time last year and the most stock available since 2019. What would typically…
Manchester, NH, has snatched its crown back from Springfield, MA, and Rockville, IL, to become America’s hottest housing market in January. The median list price in Manchester was $579,000 last month, up nearly 4% from December, as buyers flock to New Hampshire, an income and sales tax haven and relatively affordable Northeastern state. The push…
Buyers took advantage of increasing new construction inventory in December, giving purchase activity a boost at the end of the year. New home sales jumped last month, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development, which reported an increase of 3.6% on the month to a seasonally…
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…
Mortgage applications spiked after a few tough weeks on lower mortgage rates, though the bump didn’t last long. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — jumped by 15.6%, reversing last week’s 5.2% dip. Adjusted purchase applications increased by 9%, while…
As sellers are forced to adjust to the housing market’s new normal, more affordable inventory is cropping up. The share of available homes in the $200,000 to $350,000 price range saw the biggest growth of any price category in February, up 20.6% YOY, Realtor.com reported. Though inventory remains tight, money-minded buyers may see an uptick…
Listings are down more than 15% from last year, another pain point on the market ahead of the typically zippy spring buying season. HouseCanary’s February Market Pulse Report found that net new listings were 15.3% lower than in February 2023. Overall, inventory is up 11.7% YOY but remains generally constrained, limiting new activity. This is…
Existing-home sales rebounded from a December plummet in January, increasing month-over-month, but not annually. Sales increased by 3.1% to a seasonally adjusted annual rate of 4.00 million, according to the latest data from the National Association of Realtors. They were down 1.7% from the same time last year, however. The Midwest, West, and South all…
Existing-home sales increased for the first time in five months as falling rates made homebuying more affordable. Sales rose by 0.8% to a seasonally adjusted annual rate of 3.82 million, according to the latest data from the National Association of Realtors. While this is a clear improvement from past months, year-over-year sales are down 7.3%,…
Monthly payments are going up as mortgage rates continue to climb but a boost in new listings could signal a fall price cooldown. Rates have soared to their highest level in more than two decades, sending monthly housing payments to record highs. A buyer with a $3,000 monthly budget has lost almost $40,000 in purchasing…
End of content
End of content
Before You Go, Get the Latest News and UPDATES!
Stay Tuned!