Home prices rose by double digits in a record number of markets in the first quarter of 2022 even as mortgage rates rose and home sales declined, according to the National Association of Realtors (NAR). In the first quarter of 2022, 70 percent of 185 measured metros saw double-digit annual price gains, which is up…
Hot Housing Market Sees Double-Digit Price Growth in 70 Percent of Metro Areas
US Home Prices Rise in March, Building Permits Increase Due to Housing Shortage
April 19, 2022
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Home construction in the United States rose in March 2022, but starts for single-family housing fell amid rising mortgage rates across the country, with residential construction marked by a severe shortage of houses. Housing starts—an indicator of the number of private homes in a given period of time on which construction has begun—increased by 0.3 percent…
Mortgage Rates Climbing, But National Housing Market Still Steady
April 12, 2022
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After years of mortgage interest rates basking in the two to four percent range, the past month has witnessed a trend of slowly rising rates, with some creeping up to as high as 5.25 percent for low finance loans. “We’ve been in the two’s and three’s for so long, and then it seemed like one…
Early Signs of Cooling Housing Market Seen in Some US Cities, Redfin Says
There are early signs of a cooldown in some of the hottest corners of the U.S. housing market, Redfin said in a report on Friday, a fresh indication that high house prices and rising mortgage rates are cutting into homebuyer demand. Among those early tells, according to Redfin: Google searches for “homes for sale” dropped…
US Home Listing Prices Rose in February, Increasing Competition for Housing
Competition for homes in February among U.S. buyers for this spring heated up for the second month in a row, after news that mortgage rates will go up through 2022, according to OJO Labs, which runs the Movoto by OJO real estate search site. It said that 39.9 percent of homes have sold for more than…
What Lies Ahead for the US Housing Market
Commentary The historically hot U.S. real estate market is at a crossroads. The Federal Reserve finally raised interest rates in March in an effort to combat soaring inflation. The average mortgage interest rate has, unsurprisingly, also increased to the highest level since 2019. After average 30-year rates hovered in the 3 percent range in 2021,…
Australian Property Profits up Despite Lockdowns
Australia’s real estate resilience has kept on keeping on despite the ravages of COVID-19 but can’t last indefinitely, according to a leading property data specialist. The rate of profit-making resales across Australia rose to 92.4 percent in the September quarter, up 50 basis points from the previous three months and the highest returns in a…
US Home Sales Market Dropped in December
Home sales across the United States fell in December for the first time in four months amid higher prices and low housing stock continued to shut out first-time buyers. First-time buyers accounted for 30 percent of sales last month, compared to 31 percent a year ago. The availability of existing houses fell to the lowest…
US Housing Sees Notable Increase in December as Building Permits Surge
New home construction in the United States saw a notable increase in the month of December, amid unseasonably mild temperatures, according to a Commerce Department report from Jan. 19. The report said that housing starts rose 1.4 percent to an annual rate of 1.702 million in December representing a 1 percent increase from the previous…
Asking Prices for UK Homes Rise by Most Since 2016—Rightmove
LONDON—Asking prices for British homes rose by the most in annual terms in nearly six years in early 2022, according to a survey that showed how a severe shortage of properties for sale is keeping up the heat in the housing market. Property website Rightmove said on Monday that the average price of property put…
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