Housing supply is finally improving, as high prices and rising rates weigh on sales
Housing supply is finally improving, as high prices and rising rates weigh on sales
After one of the most severe housing shortages in history, the supply of homes for sale is finally starting to increase, according to new data from Realtor.com.
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After one of the most severe housing shortages in history, the supply of homes for sale is finally starting to increase, according to new data from Realtor.com.
After one of the most severe housing shortages in history, the supply of homes for sale is finally starting to increase, according to new data from Realtor.com.
The numbers: Sales of new homes in the U.S. fell in April for the fourth month in a row to the lowest level since the pandemic owing to high prices and soaring mortgage rates. New sales slowed to a 591,000 annual rate from 709,000 in the prior month, the government said Tuesday. That’s how many homes would change hands in a full year if the number of sales were the same in every month as they were in April. Economists polled by The Wall Street Journal had forecast sales to take place at a 75...
The numbers: Sales of new homes in the U.S. fell in April for the fourth month in a row to the lowest level since the pandemic owing to high prices and soaring mortgage rates. New sales slowed to a 591,000 annual rate from 709,000 in the prior month, the government said Tuesday. That’s how many homes would change hands in a full year if the number of sales were the same in every month as they were in April. Economists polled by The Wall Street Journal had forecast sales to take place at a 75...
Some homeowners are losing wealth as high mortgage rates weigh on home values, at least on paper, as the once red-hot housing market cools quickly. Sales have been slowing down for several months, with mortgage rates now double what they were at the start of this year. Home prices, likewise, dropped 0.77% from June to July, according to a recent report from Black Knight, a software, data and analytics company. While that may not sound like a lot, it was the largest monthly drop since January o...
Some homeowners are losing wealth as high mortgage rates weigh on home values, at least on paper, as the once red-hot housing market cools quickly. Sales have been slowing down for several months, with mortgage rates now double what they were at the start of this year. Home prices, likewise, dropped 0.77% from June to July, according to a recent report from Black Knight, a software, data and analytics company. While that may not sound like a lot, it was the largest monthly drop since January o...
Has the U.S. housing market peaked? The real estate market has been hot for a few years now. Buyer demand has stayed strong and home prices have risen dramatically, despite continued low inventory and rising rates. But there are signs that the market may be starting to cool. Does that mean the market has peaked, and we’re going to see things normalize in the second half of 2022? We reached out to several experts in the industry to gauge their opinions on the current state of the housing marke...
Has the U.S. housing market peaked? The real estate market has been hot for a few years now. Buyer demand has stayed strong and home prices have risen dramatically, despite continued low inventory and rising rates. But there are signs that the market may be starting to cool. Does that mean the market has peaked, and we’re going to see things normalize in the second half of 2022? We reached out to several experts in the industry to gauge their opinions on the current state of the housing marke...
Home prices are softening in most markets across the nation. Yet home prices are still higher compared with a year ago, and it's unlikely they will fall too steeply. The sharp rise in mortgage rates over the past several months has made housing more expensive for anyone needing a loan. While that has some buyers pulling back, and some sellers lowering what they're asking for, strong demand and tight supplies are supporting prices. Recent reports are using monthly comparisons because of the sharp...
Home prices are softening in most markets across the nation. Yet home prices are still higher compared with a year ago, and it's unlikely they will fall too steeply. The sharp rise in mortgage rates over the past several months has made housing more expensive for anyone needing a loan. While that has some buyers pulling back, and some sellers lowering what they're asking for, strong demand and tight supplies are supporting prices. Recent reports are using monthly comparisons because of the sharp...
The impact of rising interest rates and ongoing price hikes could be seen in Charlotte's housing market in March, signaling another challenging environment for local buyers this spring.
The impact of rising interest rates and ongoing price hikes could be seen in Charlotte's housing market in March, signaling another challenging environment for local buyers this spring.
Homebuyers are facing the perfect storm in the form of rising mortgage rates combined with yet another month of record-shattering home prices. In April, median home prices soared to an all-time high of $425,000, according to a recent Realtor.com® report. That’s a whopping 14.2% rise compared with last year. Meanwhile, skyrocketing mortgage rates averaged 5.1% by the end of April for 30-year fixed-rate loans. And there is still a severe shortage of homes on the market. So how does this double...
Homebuyers are facing the perfect storm in the form of rising mortgage rates combined with yet another month of record-shattering home prices. In April, median home prices soared to an all-time high of $425,000, according to a recent Realtor.com® report. That’s a whopping 14.2% rise compared with last year. Meanwhile, skyrocketing mortgage rates averaged 5.1% by the end of April for 30-year fixed-rate loans. And there is still a severe shortage of homes on the market. So how does this double...
Ever since the pandemic housing boom, U.S. house prices have kept on climbing, leaving many potential buyers at a loss of how they could afford a place of their own in a red hot market.
Ever since the pandemic housing boom, U.S. house prices have kept on climbing, leaving many potential buyers at a loss of how they could afford a place of their own in a red hot market.