Housing market

Existing home sales will drop to 4.78 million in 2023, NAR predicts

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.

Pending home sales rise to cap otherwise disappointing year

U.S. pending home sales unexpectedly rose in December for the first time in seven months, wrapping up an otherwise poor year for a housing market battered by higher mortgage rates.  The National Association of Realtors index of contract signings to purchase previously owned homes increased 2.5% last month to 76.9, according to a release Friday. … [Read more…]

Inflation slows to 7.1% in November, a boost for the housing market

Slower-than-expected inflation rate is good news for the housing market, which has suffered greatly from the affects of rate hikes.

Today’s Refinance Rates: January 30, 2023—Rates Remain Mostly Stable – Forbes

Today’s Refinance Rates: January 30, 2023—Rates Remain Mostly Stable  Forbes

Housing Market Tracker: Housing inventory falls once more

The Housing Market Tracker shows that housing inventory decreased by 6,468 units, a more pronounced decline from the previous week. 

Wait, Home Buying Is the Cheapest It’s Been in 20 Years?

If you happen to be in the market to buy a home, you’re probably not giddy with delight over today’s sky-high listing prices. After all, home prices continue to inch higher and higher from their near-term lows seen about a decade ago after surging for years. Knowing the home seller purchased the property for 50%… Read More »Wait, Home Buying Is the Cheapest It’s Been in 20 Years?

The post Wait, Home Buying Is the Cheapest It’s Been in 20 Years? appeared first on The Truth About Mortgage.

Builders pull back on single-family construction in most counties

Single-family building in large metro outlying counties and exurban areas has waned in the last 12 months, according to the NAHB HBGI for the third quarter of 2022.

Dave Stevens on understanding this housing market

Dave Stevens discusses the psychology of this housing market and five things loan originators need to remember if they want to succeed now.

Long-term mortgage rate hits lowest level in 4 months – Fort Worth Business Press

Long-term mortgage rate hits lowest level in 4 months  Fort Worth Business Press