A new report from real estate brokerage Redfin indicates that, despite elevated mortgage rates, homebuyers continue to leave expensive metro areas like New York and Seattle for more affordable housing options in cities like Miami and Phoenix.
Contracts to buy U.S. previously owned homes increased for a third straight month in February, raising cautious optimism that the housing market slump could be bottoming out.
Newsfeed: US pending home sales rise for third straight month; loan demand increases Read More »
Investors are shunning the real estate sector again, as headwinds from high rates show no sign of abating.
Property stocks are back among the year’s worst performers. They have plunged 22% since early February, with the threat of recession returning to the top of worries for market participants already calculating the fallout for funding costs from Silicon Valley Bank’s collapse and preparing for rates to remain elevated for longer.
Newsfeed: Peak Rates Can’t Come Soon Enough For Real Estate Read More »
In 2005, years before the subprime mortgage crisis kicked off the Great Recession and led millions of Americans to lose their homes, Larry McDonald was a vice president at the infamous now-defunct global financial services firm Lehman Brothers.
The math is truly daunting for would-be homebuyers: The difference between the mortgage payments and rents is the largest it’s been since the 2006 housing bubble that led to the Great Recession.
The math is truly daunting for would-be homebuyers: The difference between the mortgage payments and rents is the largest it’s been since the 2006 housing bubble that led to the Great Recession.
Newsfeed: Buy/Rent Premium Highest Since 2006 Housing Bubble Peak Read More »
People are initially drawn to real estate investing for all sorts of reasons … Many simply come looking for cash flow. Others are seeking long term financial security or a way to protect themselves against inflation …
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After surging far more than expected in December and January (and beaten expectations in each of the last six months), new home sales were expected to slide in February (despite the unexpected jump in existing home sales as mortgage rates took a pause from their blast off higher).
Newsfeed: New Home Sales Unexpectedly ‘Rose’ In February, Median Price Rebounds Read More »
Federal Reserve Chair Jerome Powell and his entire team should be cognizant of the fact that rents have been declining for many months. Despite this, Powell has been examining laggard data that persistently appears inflated.
Newsfeed: Rent Inflation Approaches Two-Year Low Amid Cooling Market Read More »
Existing home sales in February jumped 14.5% to an annualized rate of 4.58 million, the largest monthly percentage increase since July 2020 and ending a 12-month slide, data from the National Association of Realtors out Tuesday showed.
Newsfeed: Existing home sales jump in February as mortgage rates fall Read More »