In a year of housing market horrors for buyers, now may be the best time to buy, according to a new analysis from Redfin. In the last three weeks, rates have sunk from 8% to 7.4%, giving buyers breathing room after a succession of rate increases. Just last week, the 30-year fixed mortgage rate dropped…
American home shoppers have plenty to fear this Halloween as the housing crunch continues. But where buyers live plays a role in how stressful their experience is. Though markets are tough across the nation, California is home to the scariest housing markets in the U.S., according to a new analysis by Point2. Of the 200…
At the latest Federal Open Market Committee meeting, the Central Bank hinted at a pause in rate hikes as soon as June but still increased the benchmark rate by a quarter-point. Lawrence Yun, chief economist at the National Association of Realtors, found that puzzling. During the “Residential Economic Issues & Trends Forum” at NAR’s 2023…
New listings continue to trend down as rate lock-in and affordability concerns keep homeowners stuck in their current living situation. HouseCanary’s latest Market Pulse report found that net new listings fell by double digits for the tenth straight month in February. The report, which analyzed twenty-two metrics pulled from listing information between February 2022 and…
Annual single-family home price growth dipped from Q3 2022 to Q4 2022, according to Fannie Mae’s Home Price Index. Prices rose by 9.2% YOY in Q4, down from 13.1% in Q3. They increased just 0.2% quarter-over-over when seasonally adjusted, and fell 1% unadjusted. The index measures the average quarterly price change for all single-family properties…
Broker confidence fell for the second straight month in February, though brokers are “cautiously optimistic” about the future, according to RISMedia’s February Broker Confidence Index (BCI). The index, which is scaled 1 to 10, fell to 7.5 from January’s 7.9 and December 2021’s 8.2. For the 3,000 brokers surveyed, rising interest rates were not a…
Home price appreciation and stock shortages are likely to continue through the first few months of 2022, as December saw price growth pick back up heading into the new year, a Realtor.com report shows. Though seller sentiment is positive, new listings are shrinking, squeezing the already competitive market. The number of homes actively for sale…
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