Home sellers are giving more concessions and price cuts to prospective buyers amid high mortgage rates and home prices, according to real estate brokerage Redfin. During the three months ending Feb. 28, sellers gave concessions to 45.5 percent of home sales recorded by agents at Redfin, according to a March 15 press release. This is…
American Homebuyers Gain Leverage as Record Share of Sellers Slash House Prices: Redfin
March 17, 2023
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Business & Marketseconomyhome buyershousing concessionsMarketsreal estateU.S. real estate marketUSUS Real Estate
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Realtors’ Association Projects Softening Housing Market With Moderate Recession in California in 2023
October 13, 2022
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Business & MarketsCalifornia housing marketeconomyMarketsmortgage ratesreal estateRegional-Local NewsU.S. real estate marketUSUS Real Estate
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As mortgage rates are up near 7 percent and home sales slow down across the country, many are wondering if the Golden State of California is still a seller’s market. Real estate experts predict that California’s housing market will soften in 2023, with home prices expected to fall by 8.8 percent. However, they believe that…
Here Are The US Cities With the Biggest Rent Hikes
U.S. rental prices stabilized this month and showed some signs of cooling down, while month-over-month average price levels remain mostly unchanged, according to Rent.com’s July Report. Nationwide, rent prices largely remained stable at a 16-consecutive-month record high with one- and two-bedroom apartments still up year-over-year 25.3 percent and 26.5 percent, respectively. Rent.com states an average…
Home Sales Are Being Canceled at the Highest Rate Since the Start of the Pandemic: Redfin
Prospective homebuyers are canceling sales and backing out of deals at the highest rate since the start of the pandemic, Redfin announced on July 11. About 60,000 home-purchase agreements throughout the country fell through in June 2022, roughly equivalent to 14.9 percent of the homes that were under contract that month, compared with 12.7 percent in…
Rent Prices Finally Starting to Fall in American Cities: Analysts
The quick rise in U.S. rental prices over the past year is beginning to slip in several American cities during the peak summer season when rent prices are normally higher, according to Zumper’s National Rent Report for June. Median rent prices for one-bedroom apartments in the United States went up by 0.5 percent between May and…
Housing Supply Squeeze Finally Begins to Ease
By Jeff Ostrowski From Bankrate.com During the record-breaking housing boom of the past two years, a drastic under-supply of homes for sale has bedeviled buyers and delighted sellers. Now, the squeeze is slowly easing—a shift that could mark the start of a much-anticipated cooling of the white-hot housing market. The abnormal conditions of the past…
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