After tumbling for the first time since 2012 in July, Case-Shiller’s 20-City Composite Home Price index was expected to drop even faster in August (the latest data available) as mortgage rates soared, crushing affordability.
NTD spoke with Robert Helms, host of the radio show The Real Estate Guys, to talk about what he’s seeing in the housing market.
Newsfeed: Housing Market Could Get Dicey: Investor Read More »
Home prices have plunged during the second half of 2022 with demand for residential real estate cooling off in a number of states and cities across the U.S.
Newsfeed: U.S. home prices could fall as much as 20% next year Read More »
After the collapse in housing starts data (and mortgage applications and homebuyer confidence and homebuilder sentiment), it should be no surprise that analysts expected existing home sales to continue their streak of declines in September.
Newsfeed: US Existing Home Sales Crash To 8 Year Lows Read More »
Home sales and listings in September both slumped the most on record with the exception of the early months of the pandemic as rapidly rising mortgage rates prompted both buyers and sellers to stay put, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.
It appears delusion and hope can only last so long – even when one’s salary depends on it – as US homebuilder confidence crashed to COVID lockdown lows in October after refusing to see what everyone else was seeing more months.. and what homebuyers were clearly feeling as prices soared along with mortgage rates and devastated affordability for most Americans. Against expectations of a small drop from 46 in September to 43 in October, the headline confidence index crashed to 38 – its lowest since the nadir of COVID-lockdown panic (that was worse than the weakest forecast of all economists surveyed)…
The chart, from Redfin, shows how higher mortgage rates and a pullback in buyer demand, has forced sellers to cut prices to entice bids
Rising mortgage rates have sidelined many would-be homebuyers, but for institutional investors, it has become an opportunity as home builders try to unload properties.
Newsfeed: Institutional investors ‘buying in bulk’ as homebuying cools Read More »
It’s a double whammy for would-be homebuyers. Not only are interest rates soaring, it’s getting harder to qualify for a loan. The average rate on the popular 30-year fixed mortgage climbed over 7% at the end of last week, according to Mortgage News Daily, and is expected to hit around 7.125% on Tuesday. It’s been over 7% for several days.
The housing market is finally getting unglued: less than a week after Case Shiller (which reports home prices with a substantiakl laga) reported the first negative monthly change in home prices…
Newsfeed: Home Prices Crash At Fastest Pace Since Lehman Bankruptcy Read More »