Remove Buyers Remove Housing Market Remove New Listings Remove Realtors
article thumbnail

Midwest housing markets good for first-time homebuyers: Zillow

Housing Wire

The number of first-time homebuyers made up 32% of all buyers in 2023, according to a report released by the National Association of Realtors. Millennials comprised 75% of this demographic, with older millennials and Generation X (ages 44 to 58) accounting for 44% and 24% of first-time buyers.

article thumbnail

Even with falling rates, the housing market is shaping up to be bad in Q4

Housing Wire

“More potential homebuyers were squeezed out from qualifying for a mortgage in October as mortgage rates climbed higher,” National Association of Realtors Chief Economist Lawrence Yun said in a statement. The impact is greater in expensive areas of the country and in markets that witnessed significant home price gains in recent years.”.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

An inside look at local housing markets across the country

Housing Wire

Local markets spotlights 5 different areas across the country, showcasing what is uniquely happening in those housing markets. Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. Bluffton, South Carolina. in 2021 to $330,745. “It

article thumbnail

Why is the El Paso housing market so hot right now?

Housing Wire

According to multiple real estate agents and mortgage brokers, low interest rates and a high percentage of “essential” jobs in their town has kept the housing market and local economy strong. The city’s housing dynamics point to strong buyer demand, which fueled a 16.8% Thank goodness Realtors were deemed essential.”.

article thumbnail

Pending home sales surged in December: NAR

Housing Wire

month over month in December, according to the newest data from the National Association of Realtors (NAR). The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. But new listings activity grew by 9.1%

Contracts 458
article thumbnail

Why are existing home prices rising when sales are still so low?

Housing Wire

This is a byproduct of the qualified mortgage rule of 2010, which has been a game-changer not only for the housing market but for the overall U.S. million active listings per the last report, we have 526,000 per our last Housing Market Tracker article. This is never a good thing for housing.

Inventory 491
article thumbnail

Existing home sales ended the year with a whimper in 2022

Housing Wire

million, according to a report from the National Association of Realtors (NAR) released Friday. The housing market may have started 2022 out with a bang, but it exited the year with a whimper,” Lisa Sturtevant, Bright MLS’ chief economist, said in a statement. from November to a pace of 4.02 A total of 5.03

Inventory 384