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Homebuyers drawn to cheaper areas in Midwest and South

Housing Wire

Homebuyer contract signings in the U.S. Increased inventory of homes for sale, near historic low mortgage rates and favorable demographics means more housing demand, ” Odeta Kushi, the First American deputy chief economist said in a statement. rose 8% month-over-month from July to August, though the figure was still 8.3%

Contracts 389
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Housing inventory falls under 1M again as sales collapse

Housing Wire

housing market , we just experienced an event that most people never thought could happen. Total housing costs for American homeowners versus their wages are meager, and most will buy a home right away when they sell. Looking at housing this way, the last four decades make sense. The days on market were too low.

Inventory 540
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Pending home sales continue to slip as 2021 approaches

Housing Wire

Year-over-year, contract signings increased by 16.4%. from its former high in July 2006, and was up 8.4% Although month-over-month contract activity fell in all four major regions, there were still gains in pending home sales transactions. pending home sales slid for the third consecutive month in November, dropping 2.6%

Contracts 532
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US home prices hit record level (again)

Housing Wire

below its 2006 peak. Additionally, there are move-up buyers with larger budgets who are relocating to more affordable areas where they’re financially able to outbid local residents. Price growth remains about as hot as ever, but the housing market is gradually retreating towards a more balanced state.”.

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Rising home prices take a toll on pending home sales

Housing Wire

in October – the second consecutive month the index has fallen as affordability strains the market, a recent report from the National Association of Realtors said. However, borrowers are still maintaining a strong pace, as contract signings are up 20.2% pending home sales fell 1.1% compared to a year ago.

Realtors 532
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U.S. Housing Market Collapse? Nowhere in Sight

Empire Appraisal Group

Housing Market Collapse? Housing Market Collapse? The housing market has taken a few hits, such as a doubling of mortgage rates in 2022, but it remains solid even if legitimate news providers suggest doom and gloom. housing market is suffering some cracks, but an outright collapse is nowhere in sight.

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The nation’s housing market is on a correction course

Housing Wire

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. The market is going to go into correction,” he said. “I