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Newsfeed: Home Robo-Flipper Opendoor “In Danger Zone” After Losing Money On 42% Of All Transactions

Newsfeed: Home Robo-Flipper Opendoor “In Danger Zone” After Losing Money On 42% Of All Transactions

Last November, housing consultancy firm Zillow lobbed the first warning shot that the housing bubble had burst, when it shocked markets by firing 25% of its workforce, and announcing it had scrapped its robo-flipping program after losing hundreds of millions by allowing robots to buy and sell homes.

Newsfeed: Home Robo-Flipper Opendoor “In Danger Zone” After Losing Money On 42% Of All Transactions Read More »

Newsfeed: “This Is The Sharpest Turn In The Housing Market Since The 2008 Crash” As Mortgage Rates Soar Above 6%

Newsfeed: “This Is The Sharpest Turn In The Housing Market Since The 2008 Crash” As Mortgage Rates Soar Above 6%

And the hits just keep on coming for the US housing sector. Three months after hitting the highest level in 14 years, on Thursday mortgage rates hit a fresh post-financial crisis high when they topped 6%, a jolt to home buyers who last year were paying less than half that.

Newsfeed: “This Is The Sharpest Turn In The Housing Market Since The 2008 Crash” As Mortgage Rates Soar Above 6% Read More »

Newsfeed: US Pending Home Sales Are Down Most Since 2011 YoY (Ex-COVID)

Newsfeed: US Pending Home Sales Are Down Most Since 2011 YoY (Ex-COVID)

After yesterday’s dreadful collapse in new home sales (and Toll Brothers’ less than rosy picture overnight), analysts expected another monthly decline in pending home sales in July (though not as violent as the June plunge). They were right as pending home sales dropped 1.0% MoM (beating expectations of a 2.6% drop but that was largely driven by a downward revision for June data)…

Newsfeed: US Pending Home Sales Are Down Most Since 2011 YoY (Ex-COVID) Read More »

Newsfeed: We’re in a ‘housing recession,’ experts say. Here’s what that means for homeowners, sellers and buyers

Newsfeed: We’re in a ‘housing recession,’ experts say. Here’s what that means for homeowners, sellers and buyers

Just months ago, the housing market remained in overdrive: surging home prices, historically low interest rates and unrelenting demand. However, data now suggests to some experts that the market is in a “housing recession.”

Newsfeed: We’re in a ‘housing recession,’ experts say. Here’s what that means for homeowners, sellers and buyers Read More »

Newsfeed: “We’re Witnessing A Housing Recession”: Existing Home Sales Crater 20% In July As Affordability Collapses

Newsfeed: “We’re Witnessing A Housing Recession”: Existing Home Sales Crater 20% In July As Affordability Collapses

Another month, another plunge in housing.

Hot on the heels of the latest catastrophic homebuilder sentiment print and plunging single-family starts and permits, analysts expected existing home sales to accelerate their recent decline with a 4.9% MoM drop in July.

Newsfeed: “We’re Witnessing A Housing Recession”: Existing Home Sales Crater 20% In July As Affordability Collapses Read More »

Newsfeed: Buying a home in America is now the LEAST affordable it’s been in 33 years as average mortgage payments rose to ,944 in June compared to ,297 in January due to higher rates and record home prices

Newsfeed: Buying a home in America is now the LEAST affordable it’s been in 33 years as average mortgage payments rose to $1,944 in June compared to $1,297 in January due to higher rates and record home prices

Buying a home in the US is the least affordable it’s been in 33 years as mortgage rates soar this year and home prices hit record highs.

Newsfeed: Buying a home in America is now the LEAST affordable it’s been in 33 years as average mortgage payments rose to $1,944 in June compared to $1,297 in January due to higher rates and record home prices Read More »

Newsfeed: Housing correction is ‘dead ahead,’ warns Moody’s chief economist Mark Zandi — here’s how he sees things playing out over the next several months

Newsfeed: Housing correction is ‘dead ahead,’ warns Moody’s chief economist Mark Zandi — here’s how he sees things playing out over the next several months

Existing home sales showed a 5.4% decline in June from May, but prices remain elevated, according to the National Association of Realtors. The median sale price of existing homes in the U.S. set a new record high of $416,000 in June, marking a 13.4% increase from a year ago.

Newsfeed: Housing correction is ‘dead ahead,’ warns Moody’s chief economist Mark Zandi — here’s how he sees things playing out over the next several months Read More »

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