Remove Construction Remove Home Value Remove New Listings Remove Realtors
article thumbnail

Texas Real Estate Trends: Q3 2023 Comprehensive Review

Listing Spark

A Dip in New Mortgages With interest rates soaring to unexpected heights, many prospective homebuyers have taken a step back from applying for new mortgages. Many have been caught off guard by the spike in rates and are cautiously waiting and hoping for home values to become more affordable.

article thumbnail

2024 Texas Real Estate Housing Report

Listing Spark

On the heels of the largest run up in home values in recorded history, we saw an abrupt and heavy shift that’s been challenging to grapple with for sellers and buyers. It was an inevitable end to arguably the greatest run-up in home values in history. Some markets were affected more than others.

Insiders

Sign Up for our Newsletter

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

article thumbnail

ROOTING HARD FOR LOWER MORTGAGE RATES

Will Springer Realtor

The National Association of Realtors® noted an estimated 41% of owners remain in their homes for a duration equal to or exceeding the median tenure of 13 years thanks to today’s higher rates. BY THE NUMBERS >> Seattle metro leads the nation with construction cranes – 45 – according to a Q3 summary from the RLB Crane Index.

article thumbnail

HOUSING ‘TRIFECT’ PUTTING SQUEEZE ON BUYERS

Will Springer Realtor

As the chart shows, a historically large segment of Millennials is inching toward 36, the median age of a first-time home buyer in the U.S. also the oldest age of a first-timer ever recorded by the National Association of Realtors® (NAR). The national trend for new construction, however, is generally moving in the opposite direction.

Buyers 36
article thumbnail

A CALL FOR MORE ACCESSORY DWELLINGS AMID HOUSING CRUNCH

Will Springer Realtor

Lawrence Yun, chief economist at the National Association of Realtors® said in late July: “There are indications that mortgage rates may be topping or very close to a cyclical high.” SmartAsset used three metrics – home value growth, income growth and housing demand – to reach its findings. >> Returning to work will come with a price.