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Homebuyers drawn to cheaper areas in Midwest and South

Housing Wire

Homebuyer contract signings in the U.S. The more moderately priced regions of the South and Midwest are experiencing stronger signing of contracts to buy, which is not surprising,” Yun said in a statement. The homebuyer trend is illustrated in Realtor.com’s latest report on the hottest housing markets in the U.S.

Contracts 414
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Mortgage demand plunges as costs reach new heights

Housing Wire

The news that job growth and wage growth continued in September is positive for the housing market, as higher incomes support housing demand,” Mike Fratantoni, MBA’s senior vice president and chief economist, said in a statement. The average contract interest rate for 5/1 ARMs increased to 5.56% from 5.36% in the same period.

Mortgage 395
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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 533
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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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US home prices hit record level (again)

Housing Wire

below its 2006 peak. Home price growth remained scorching hot as the housing market entered the dog days of summer, but data released in the weeks since indicate cooler days in the months to come,” Matthew Speakman a Zillow economist said in a statement.

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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 533