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Coastal California metros were the priciest  in March: Zillow

Housing Wire

Home prices are surging in major U.S. metros, with coastal California cities and Seattle leading the charge in monthly home value growth, according to Zillow’s newest market report. These metros also continue to grapple with below-average inventory recovery, maintaining pressure on buyers.

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Opinion: The end of seller speculation in US housing market

Housing Wire

metropolitan areas in February 2022, based on year-over-year growth in median listing price according to the residential real estate listing website, Realtor.com. The table also reports the year-over-year percent change in new listings for each market. Table 1, below, reports the 10 hottest U.S. Bellingham, WA 51.7% -8.3%

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

Housing Wire

Existing home sales last month declined 5.9% That’s the largest year over year existing home sales decrease since 2007. 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.

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Borrowers opt for permanent rate buydowns amid affordability challenges

Housing Wire

Home prices growth and mortgage rates have come down from the peaks in 2022, but affordability still remains a challenge. Purchase borrowers, who now make up 82% of new rate locks, paid an average of 1.16 For those looking to pull cash out of their homes, the cost was nearly twice that, with an average of 2.06

Inventory 384
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New listings surge as the spring buying season approaches

Housing Wire

Mortgage demand has been on the rise for two weeks in a row. Inventory has been trending upward for the last two years despite persistently high mortgage rates, Mike Simonsen, president and founder of Altos Research , wrote on Monday. New listings rose 20% from January, and each of the 50 largest U.S. That’s up 4.2%

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First-time buyers need to earn $64,500 to afford a typical starter home

Housing Wire

High mortgages and stubbornly elevated home prices are worsening the housing affordability crisis. starter” home, up 13% from a year ago, according to a new report from Redfin. In June, the typical starter home sold for a record $243,000, up 2.1% In June, the typical starter home sold for a record $243,000, up 2.1%

Buyers 370
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Q1 2023 Texas Real Estate Market update – Real Estate Real Fast EP17

Listing Spark

Episode Summary Aaron Jistel gives an update on the Texas Real Estate Market in Q1 2023 and recaps the 2022 market noting that it had been affected by a sudden increase in mortgage rates, with sales and home values declining. Things are starting to look up in 2023 with a break in mortgage rates. [00:05:15]-[00:05:31]