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Newsfeed: A Record Share of Homebuyers Relocate, Driven By Moves Away From Expensive Coastal Areas

Newsfeed: A Record Share of Homebuyers Relocate, Driven By Moves Away From Expensive Coastal Areas

High mortgage rates, persistent inflation and economic woes are making expensive parts of the country less attractive and relatively affordable places more popular. Migration out of Los Angeles, New York, Washington, D.C. and Boston has picked up from last year.

Newsfeed: A Record Share of Homebuyers Relocate, Driven By Moves Away From Expensive Coastal Areas 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: “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: Record Number Of Homebuyers Walk Away From Contracts As Builders Reel Amid Glut Of Unsold Houses

Newsfeed: Record Number Of Homebuyers Walk Away From Contracts As Builders Reel Amid Glut Of Unsold Houses

The housing market is slowing as higher mortgage rates sideline many prospective homebuyers. With competition declining, the house hunters who are still in the market are enjoying newfound bargaining power, a striking contrast from just a few months ago, when buyers often had to pull out every stop in order to win.

Newsfeed: Record Number Of Homebuyers Walk Away From Contracts As Builders Reel Amid Glut Of Unsold Houses Read More »

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