Contract Signings Rise as More Listings Hit the Market This summer, home buyers have more choices, while sellers face stiffer competition. Pending home sales rose nearly 5% in June, with all major U.S. regions posting gains, according to the National Association of REALTORS®. NAR Chief Economist Lawrence Yun observes, “The rise in housing inventory is […]
Home Buyer Opportunities Appear to be Opening Up While there have been some fluctuations from month to month, economists remain optimistic about the housing market for the rest of this year and into the next. Lawrence Yun, a leading economist, notes that “The first half of the year did not meet expectations regarding home sales […]
Mortgage Rates Curtail Home Sales, Yet Prices Surge Existing-home sales fell last month as mortgage rates eclipsed 7% and home prices continued to rise. But some market segments are showing resilience: High-end home sales-listings at $1 million and above-posted significant gains in April, increasing 40% compared to a year ago, according to the National Association […]
Housing Market Predictions For 2024: When Will Home Prices Be Affordable Again? Elevated mortgage rates, out-of-reach home prices and record-low housing stock are the perennial weeds that experts say hopeful home buyers can expect to contend with this spring-and beyond. “The housing market is likely to continue to face the dual affordability constraints of high […]
Santa Monica Marked as a Priority Amid Statewide Housing Development Goals The City of Santa Monica became one of 37 California localities designated by Gov. Newsom as “Prohousing”, making it a funding and resource priority during a statewide acceleration effort of housing development. Read more… smmiror.com Real estate expert warns ‘no signs’ housing affordability will […]
The housing market just saw its biggest inventory spike in nearly 3 years The frozen US housing market is showing some signs of loosening this month. In the four weeks to February 25, new listings of US homes for sale surged 12.9% compared to the same time a year ago, hitting 79,354, according to data from […]
Mortgage Rates Have Dropped Quickly: How Low Will They Go In 2024? Homebuyers received an unexpected gift around the holidays as mortgage rates dropped rapidly late last year…the question on the minds of many aspiring homebuyers is just how low mortgage rates will drop this year. Courtesy of Realtor.com Source: themls.com Food Obsession of the […]
The 10 Best Real Estate Markets for 2024 A stubborn lack of inventory and high mortgage rates kept many prospective homebuyers at bay for most of 2023. But as we head into the new year, which markets are poised to see the strongest combined increase in home sales and listing prices? Courtesy of USA Today […]
It’s Taking Americans Much Longer in Life to Buy Their First Home… The typical age to buy a first home has jumped to 36 years old, the oldest ever on record. The rising age is a sign that high housing costs and mortgage rates are pushing homeownership out of reach for younger Americans. Courtesy of […]
Home prices rise for seventh consecutive month, per Case-Shiller Index After steadily declining for seven consecutive months, housing prices have now increased for the same amount of time – seven months, according to a new report. S&P CoreLogic’s latest Case-Shiller U.S. National Home Price NSA Index, released October 31, reports that home-price growth rose in August […]
