Just one day after the Federal Reserve raised its benchmark rate, mortgage rates took a sharp turn lower. The average rate on the popular 30-year fixed mortgage fell to 5.22% on Thursday from 5.54% on...
Tag: Housing
Time To Abolish Zoning? New Book Makes The Case
Close-up Of A Businesspeople Analyzing Cadastre Map On Computer In The Office getty In many U.S. cities housing is too expensive. Housing prices in coastal cities such as New York and San Francisco ar...
Pending home sales fell 20% in June as mortgage rates soared
A “Sale Pending” sign outside a house in Discovery Bay, California, on Thursday, March 31, 2022. David Paul Morris | Bloomberg | Getty Images Signed contracts to purchase existing homes dr...
Mortgage demand declines further, even as interest rates drop a bit
A prospective home buyer is shown a home by a real estate agent in Coral Gables, Florida. Joe Raedle | Getty Images Mortgage demand edged lower for the fourth straight week, according to data released...
Homebuilders boost incentives as they suddenly struggle to sell homes
Contractors work on the roof of a house under construction in the Stillpointe subdivision in Sumter, South Carolina, on Tuesday, July 6, 2021. Micah Green | Bloomberg | Getty Images After two years of...
Home Prices Are Still Rising As Housing Market Faces ‘New Reality’—A Recession Could Force Big Drops In These Major Cities
Topline The good news for buyers is that there was a slight deceleration in home prices in May as higher interest rates continued to temper demand in the booming housing market, according to industry ...
Home price growth slowed in May, S&P Case-Shiller says
New homes under construction in Tucson, Arizona. Rebecca Noble | Bloomberg | Getty Images Home prices in May were 19.7% higher compared with the same month last year, according to the S&P CoreLogi...
This CEO warns that the Fed’s strategy has created a big bubble in housing. Here’s what he likes for protection
‘The biggest Ponzi scheme in history’: This CEO warns that the Fed’s strategy has created a big bubble in housing. Here’s what he likes for protection The Fed is tasked with a dual mandate: to ensure ...
Billionaire Wee Cho Yaw’s UOL Sells 98% Of Singapore Condo Project Amid Robust Housing Demand
An artist’s impression of AMO Residences, a 372-unit high-rise residential project UOL is building … [+] in Ang Mo Kio in central Singapore. Courtesy of UOL Group UOL Group Ltd.—controlled...
The U.S. housing market has gone cold
This post was originally published on TKer.com. Low financing costs, excess savings, and a demand for more space during the pandemic fueled a frenzy in the housing market that sent home prices surgin...
The Federal Reserve’s inflation fight and the U.S. housing market
The Covid-19 pandemic caused chaos in the U.S. housing market, with prices skyrocketing, inventories dwindling and intense bidding wars. Then came record inflation, which drove the price of everything...
‘Historic’ Correction Grips Canada’s Housing Market, RBC Says
(Bloomberg) — The housing market correction that’s taking hold in Canada could turn out to be its biggest in recent history, according to a new forecast from the country’s largest bank. Most Rea...
Housing market seemingly in ‘free fall’
Since the start of the pandemic, one of the strongest sectors of the U.S. economy was the housing market. However, like most other sectors, housing is now showing signs of slowing and is increasingly ...
June home sales fall 5.4% from May, as prices set yet another record
A sign is posted in front of a home for sale on July 14, 2022 in San Francisco, California. Justin Sullivan | Getty Images Sales of previously owned homes in June fell 5.4% from May, according to a mo...
Mortgage demand drops to lowest level in 22 years
Daniel Acker | Bloomberg | Getty Images The pain in the mortgage market is only getting worse as higher interest rates and inflation hammer American consumers. Mortgage demand fell more than 6% last w...
New Home Construction Keeps Sinking As Housing Market Demand ‘Quickly’ Dries Up
Topline New housing starts unexpectedly plunged more than economists projected in June as home builders grappled with the effects of rising interest rates curbing demand for new homes, according to da...
Stocks Open in the Green Amid Earnings Season, Housing Market Shows Signs of Cooling Down » NullTX
Despite rumors of the Fed potentially increasing interest rates by 100 basis points next week, the U.S. stock market opened in the green today, with the S&P 500 increasing by 30 points and the Dow...
Homebuilder sentiment takes historic plunge in July
A contractor works on a new home under construction in Tucson, Arizona, U.S., on Tuesday, Feb. 22, 2022. Sales of new U.S. homes retreated in January after a flurry of purchases at the end of 2021, in...
The 15 housing markets in America that are now actually more affordable than they were in 2005
“Worsening affordability appears to be having an impact on demand, which could lead to prices plateauing or even correcting modestly in some markets,” one pro told MarketWatch Picks. Getty Images/iSto...
These are the 10 cities seeing the most price cuts for homes
Daniel Acker | Bloomberg | Getty Images More home sellers are dropping their asking prices as rising mortgage interest rates and inflation have slowed down competition in the housing market. Some citi...
Fed Governor Waller says he’s open to ‘larger’ rate hike this month than in June
Christopher Waller, U.S. President Donald Trump’s nominee for governor of the Federal Reserve, speaks during a Senate Banking Committee confirmation hearing in Washington, D.C., U.S, on Thursday...
There’s a ‘perfect storm’ brewing in the family housing market — here’s a super simple way to take advantage
There’s a ‘perfect storm’ brewing in the family housing market — here’s a super simple way to take advantage Inflation is out of control. So it’s no surprise that real estate is red hot as well. Accor...
Mortgage Giant Cuts Thousands Of Jobs—Warns Of ‘Accelerated’ Downturn As Housing Market Abruptly Collapses
Topline Mortgage originator loanDepot on Tuesday unveiled a plan to cut thousands of jobs and reduce costs “significantly” as higher interest rates sink mortgage demand—becoming the latest...
Home builders cut prices and slow construction as buyers pull back, survey shows
Home builders are feeling jittery. That’s according to a June survey of home builder sentiment by John Burns Real Estate Consulting. Demand for new homes is cooling as buyers cancel orders, and builde...
Housing Market: Mountain of Woes Just Keeps Rising
The housing market is not a pretty thing right now. Soaring prices and mortgage rates have made homes unaffordable for many buyers, and sales are falling as a result. Here’s the latest piece of bad n...
Redfin stock tumbles after it says housing market deals are falling through at the fastest rate in 2 years
Shares of Redfin Corp. RDFN, -10.74% tumbled 9.6% in morning trading Monday, after the online real estate services company said that housing market deals are falling through at the fastest clip in two...
Homebuyers are canceling deals at highest rate since start of Covid
A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida. According to the National Association of Realtors, sales of existing homes dropped 3.4% to a seasonally adjus...
The Fed’s housing market ‘reset’ has us in a housing correction. Here’s what to expect next
Through the first 24 months of the pandemic, U.S. home prices soared 38.5%. In some markets, like Phoenix and Dallas, home prices grew by more than 50%. The Federal Reserve wasn’t a fan. As the ...
This CEO warns that the Fed’s strategy has created a giant bubble in housing. Here’s what he likes for protection
‘The biggest Ponzi scheme in history’: This CEO warns that the Fed’s strategy has created a giant bubble in housing. Here’s what he likes for protection The Fed is tasked with a dual mandate: to ensur...