The Most Splendid Housing Bubbles in America, Feb. Update: Raging Mania in Phoenix to Cooling Condos in San Francisco
The Most Splendid Housing Bubbles in America, Feb. Update: Raging Mania in Phoenix to Cooling Condos in San Francisco
But the deals were made when mortgage rates were still 3%, not 4% as today.
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But the deals were made when mortgage rates were still 3%, not 4% as today.
But the deals were made when mortgage rates were still 3%, not 4% as today.
But it still predates the 5% & 6% holy-moly mortgage rates, whose impact on prices weβll only see in a few months. ByΒ Wolf RichterΒ forΒ WOLF STREET. The first βdecelerationβ and βsigns of a tipping pointβ cropped up in the S&P CoreLogic Home Price Index, which was released today. But todayβs data for βAprilβ consists of the three-month average of closed home sales that were entered into public records in February, March, and April, Β representing deals that were made a few wee...
But it still predates the 5% & 6% holy-moly mortgage rates, whose impact on prices weβll only see in a few months. ByΒ Wolf RichterΒ forΒ WOLF STREET. The first βdecelerationβ and βsigns of a tipping pointβ cropped up in the S&P CoreLogic Home Price Index, which was released today. But todayβs data for βAprilβ consists of the three-month average of closed home sales that were entered into public records in February, March, and April, Β representing deals that were made a few wee...
At the time rate locks were issued for those deals, mortgage rates were still around 3.2%.
At the time rate locks were issued for those deals, mortgage rates were still around 3.2%.
Purchased in a panic when mortgage rates averaged 3.2% to 4.2%, just before the majestic spike. ByΒ Wolf RichterΒ forΒ WOLF STREET. The home price data released today by the S&P CoreLogic Home Price Index represents the three-month average of closed home sales that were entered into public records in January, February, and March, reflecting deals that were agreed to a few weeks earlier, roughly in December, January, and February, funded with mortgages that were pre-approved before then, and had ...
Purchased in a panic when mortgage rates averaged 3.2% to 4.2%, just before the majestic spike. ByΒ Wolf RichterΒ forΒ WOLF STREET. The home price data released today by the S&P CoreLogic Home Price Index represents the three-month average of closed home sales that were entered into public records in January, February, and March, reflecting deals that were agreed to a few weeks earlier, roughly in December, January, and February, funded with mortgages that were pre-approved before then, and had ...
Raging mania to lock in mortgage rates when they were still at 3.2%. But now theyβre near 5%.
Raging mania to lock in mortgage rates when they were still at 3.2%. But now theyβre near 5%.
First signs the juice is coming out, with several months lag. ByΒ Wolf RichterΒ forΒ WOLF STREET. Signs are now everywhere that the crazy housing market is turning the corner. Earlier today the Census Bureau reported some chilling data on new house sales and prices, which plunged in June, as inventory surged to the highest since 2008. The National Association of Realtors reported last week that existing home sales in June also plunged, even as inventories jumped. The trio of national housing rep...
First signs the juice is coming out, with several months lag. ByΒ Wolf RichterΒ forΒ WOLF STREET. Signs are now everywhere that the crazy housing market is turning the corner. Earlier today the Census Bureau reported some chilling data on new house sales and prices, which plunged in June, as inventory surged to the highest since 2008. The National Association of Realtors reported last week that existing home sales in June also plunged, even as inventories jumped. The trio of national housing rep...
The Case-Shiller index, which lags reality on the ground by 4-6 months, is starting to pick up the price drops in Seattle, San Francisco, San Diego, Los Angeles, Denver, and Portland. Β ByΒ Wolf RichterΒ forΒ WOLF STREET. The housing market is going through some navel gazing, as many buyers evaporated at current prices and mortgage rates. Theyβre still out there, but theyβre a lot lower, and many sellers havenβt figured that out yet, though some started cutting their asking prices but not...
The Case-Shiller index, which lags reality on the ground by 4-6 months, is starting to pick up the price drops in Seattle, San Francisco, San Diego, Los Angeles, Denver, and Portland. Β ByΒ Wolf RichterΒ forΒ WOLF STREET. The housing market is going through some navel gazing, as many buyers evaporated at current prices and mortgage rates. Theyβre still out there, but theyβre a lot lower, and many sellers havenβt figured that out yet, though some started cutting their asking prices but not...
Big drops in San Diego, Los Angeles, Dallas, Portland, Phoenix,Β Boston. Prices going down faster than theyβd spiked? No way. Oops. ByΒ Wolf RichterΒ forΒ WOLF STREET. This is the first month in this cycle that the S&P CoreLogic Case-Shiller Home Price Index, which lags reality on the ground by 4-6 months, is showing house price declines in all the metros in the index. In Seattle, the month-to-month plunge was the steepest on record (-3.8%). In San Francisco, the month-to-month plunge (-4.3%) ...
Big drops in San Diego, Los Angeles, Dallas, Portland, Phoenix,Β Boston. Prices going down faster than theyβd spiked? No way. Oops. ByΒ Wolf RichterΒ forΒ WOLF STREET. This is the first month in this cycle that the S&P CoreLogic Case-Shiller Home Price Index, which lags reality on the ground by 4-6 months, is showing house price declines in all the metros in the index. In Seattle, the month-to-month plunge was the steepest on record (-3.8%). In San Francisco, the month-to-month plunge (-4.3%) ...
The Case-Shiller index, which lags by several months, is starting to flip market by market, including in Phoenix, Dallas, Washington DC, and Boston.Β Β ByΒ Wolf RichterΒ forΒ WOLF STREET. A month ago, theΒ S&P CoreLogic Case-Shiller Home Price Index, which lags housing market reality on the ground by 4-6 months, started picking up the first month-to-month price declines, all of them in the West: the metros of Seattle, San Francisco, San Diego, Los Angeles, Denver, and Portland. Those price decl...
The Case-Shiller index, which lags by several months, is starting to flip market by market, including in Phoenix, Dallas, Washington DC, and Boston.Β Β ByΒ Wolf RichterΒ forΒ WOLF STREET. A month ago, theΒ S&P CoreLogic Case-Shiller Home Price Index, which lags housing market reality on the ground by 4-6 months, started picking up the first month-to-month price declines, all of them in the West: the metros of Seattle, San Francisco, San Diego, Los Angeles, Denver, and Portland. Those price decl...
Markets across the nation appear to be cooling off as the effects of rising mortgage rates on buyer affordability begin to set in, but housing remains in demand according to a recent real estate report by Redfin.
Looking at the report, the average monthly mortgage rate payments on the median home price have increased 45% compared to the same time last year, from an average of $1,694 a month to $2459. As a result of a decrease in buyer affordability, the average median home price has begun to d...
Markets across the nation appear to be cooling off as the effects of rising mortgage rates on buyer affordability begin to set in, but housing remains in demand according to a recent real estate report by Redfin.
Looking at the report, the average monthly mortgage rate payments on the median home price have increased 45% compared to the same time last year, from an average of $1,694 a month to $2459. As a result of a decrease in buyer affordability, the average median home price has begun to d...