Impact of Rising Mortgage Rates on Home Prices in Metro Phoenix

How rising mortgage rates will impact soaring home prices in metro Phoenix

bizjournals bizjournals | 1 year ago

How much is too much? Rising home prices coupled with rising mortgage interest rates could hit the pause button on the Valley's spring home buying season. Here's what local and national economists have to say about it.

How rising mortgage interest rates affect land buys across metro Phoenix

bizjournals bizjournals | 1 year ago

Between January and September, there were 1,186 land transactions across metro Phoenix. RL Brown Housing Reports conducted research exclusively for Phoenix Business Journal to break out those land buys, including their purchase prices, month by month. Here's what they found.

Home showings soaring in Dallas-Fort Worth despite higher prices, mortgage rates

bizjournals bizjournals | 1 year ago

Quickly rising mortgage rates, high home prices and a persistent inventory shortage aren’t enough to sideline Dallas-Fort Worth home shoppers, judging by new data on the number of showings per listing.

Rising mortgage rates are sending home prices lower

latimes latimes | 1 year ago

For the first time in a decade, home prices in Southern California are definitively falling. After 10 years of largely uninterrupted gains, home values have turned negative, the result of rising mortgage rates that have squashed demand and caused sales to plummet. The typical Southern California home price is now nearly 6% below the all-time high reached in May, according to data released Wednesday by Zillow. In September, the typical home price for the six-county region dropped 0.6% from Augus...

How Today’s Mortgage Rates Impact Your Home Purchase

keepingcurrentmatters keepingcurrentmatter... | 1 year ago

If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power.

By the numbers: Soaring home prices for the top 20 metro areas

bizjournals bizjournals | 1 year ago

A new report shows year-over-year increases for 20 metropolitan areas.

Metro home prices continued to fall in July - Mortgage Rates & Mortgage Broker News in Canada

Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago

Home prices continued their downward decline in most of the country’s major metro areas in July, alongside falling sales. In the Greater Toronto Area, for example, the average selling price fell 6.2% from June to $1,074,754. That still remains 10.3% higher compared to a year ago. The Home Price Index Composite Benchmark, which removes seasonal volatility, remains 12.9% above year-ago levels. In Vancouver, the average price slid 2.3% from a month earlier, and is up 10.3% compared to July 2021...

Report: Rising mortgage rates push home prices lower in Tampa Bay

bizjournals bizjournals | 1 year ago

The housing market's cooldown will continue through the end of the year as surging mortgage rates are turning away potential homebuyers, the latest Redfin report finds. For the first time since March 2021, the average home sells for less than its listing price, but high mortgage rates still impact what people can afford. The Redfin report highlighted that home touring has dropped significantly by 38% since January over the last four weeks, with declining demand that led a near-record share...

Opinion: Will lower lumber prices offset rising rates?

housingwire housingwire | 1 year ago

High lumber prices are often blamed for high home prices, but interest rates have far more impact on affordability. The post Opinion: Will lower lumber prices offset rising rates? appeared first on HousingWire.