In addition to a further drop in existing home sales, Yun said he expects the annual median home price to rise just 0.3% next year to $384,500.
Slower-than-expected inflation rate is good news for the housing market, which has suffered greatly from the affects of rate hikes.
Goldman Sachs, a multinational investment bank, forecasts home prices will fall further in 2023 than initially expected.
Is real estate set to boom or is another bust imminent just a decade after the last housing crisis? Thereâs been a lot of chatter on both sides of the argument lately, so which one is it? We Should Be Booming, But We Aren’t? All the ingredients are in place for a housing boom Yet… Read More »Are We on the Verge of a Housing Boom or Bust?
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Newcomers to the market still face mortgage rates above 6% and lofty home prices, but they can secure strong investments in some up-and-coming towns minutes away from major metropolitan centers, according to Realtor.com. “For those with a bit of flexibility in where they live, there are markets where young buyers can find not just a … [Read more…]
Local markets is a HousingWire magazine feature spotlighting housing trends in five markets across the country.
Well that didnât take long â demand to buy a home is now back above its so-called â¨âpre-coronavirus levels,â per a new analysis from real estate brokerage Redfin. The company said demand was a seasonally-adjusted 5.5% higher during the week ending May 10th than it was prior to the COVID-19 pandemic. Of course, it would… Read More »Home Buyer Demand Bounces Back, Small Towns Become Hot
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A modest recession is still expected in 2023, and elevated mortgage rates and home prices will limit housing activity.
Single-family home prices in the United States increased at a non-seasonally adjusted annual rate of 9.2% in Q4 2022, according to the latest Home Price Index (FNM-HPI) reading from Fannie Mae. This marks a decrease from the previous quarter’s annual growth rate of 13.1%. On a quarterly basis, home prices rose a seasonally adjusted 0.2%, … [Read more…]
A recent podcast from First American economists discussed the current state of the housing market. The subject was the rebalancing of the housing market, which has been out of whack for a while now. Over the past several years, itâs been decidedly slanted toward home sellers, who have enjoyed bidding wars and above-asking offers. As… Read More »A 1% Decrease in Mortgage Rates Is Worth an 11% Drop in Home Prices
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