The US housing affordability crisis continues to worsen as mortgage rates skyrocket to two-decade highs while the cost of an average home is still at bubbly levels. Financing costs are through the roof, and anyone earning less than $100,000 has been priced out of homeownership.
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.
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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 »
Since the start of the year, mortgage rates have been trending upwards — and according to many experts, this trend will likely continue through October.
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.”
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.
Existing-home sales sagged for the sixth straight month in July, according to the National Association of REALTORS®. All four major U.S. regions recorded month-over-month and year-over-year sales declines.
Newsfeed: Existing-Home Sales Retreated 5.9% in July Read More »
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.
The residential real estate market has stumbled, after soaring in the first 18 months of the covid pandemic.
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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.