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…
Zillow Revises Home Price Appreciation Forecast, New Prediction Down 8 Points
Home prices in the United States, which are showing signs of cooling following a pandemic-recovery spike, are now expected to rise at a slower rate than previously predicted, according to real estate marketplace firm Zillow. In its March report, Zillow predicted home prices would rise 17.8 percent year-over-year by February 2023. In its latest forecast…
Home Listings Rise in June While Prices Begin to Drop, Demand Reaching ‘Breaking Point’
July 1, 2022
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Business & Marketseconomyhome listingshousing inventorymortgage ratesreal estaterealtorU.S. home pricesUSUS Real Estate
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The U.S. housing market seems to be cooling off as the tight inventory situation shows signs of reversal, according to data from real estate listings website Realtor. In June, the number of real estate listings increased by 18.7 percent compared to the same time in 2021, according to a June 30 news release by the…
US Housing Market Proving Resilient
July 1, 2022
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Business & MarketsBusiness Columnistshome priceshousing marketmortgage ratesOpinionreal estateUS Real EstateViewpoints
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Commentary A U.S. housing market downturn will arrive, but it won’t be anything like 2008. After an unreasonably hot period for home prices following the COVID-19 pandemic, fueled by a new suburban migration wave and historically low interest rates, pundits are calling for a major housing crash similar to the one experienced during the Great…
Over 40 Percent of Homes See Prices Drop in Multiple Local Housing Markets
June 30, 2022
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Affordable HousingBusiness & Marketseconomyhome prices to fallmortgage ratesnew home buyerreal estateUSUS Real Estate
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With home sellers realizing that buyers are no longer able to afford houses at current prices and mortgage rates, they are adjusting expectations and prices are dropping in multiple housing markets across the United States, according to real estate brokerage Redfin. In Provo, Utah, 47.8 percent of homes for sale saw prices go down in…
Monthly Mortgage Payments for Typical Home Rise $800 in Last 6 Months
June 30, 2022
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Business & MarketseconomyFreddie MacinflationInvestmentmortgage paymentsmortgage ratesreal estateUSUS NewsUS Real Estate
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The battle waged by the Federal Reserve to curb inflation heightens mortgage costs, making homes less affordable for first-time buyers. The average rate on the popular 30-year fixed mortgage is now close to 6 percent, which is about double what it was at the beginning of the year. Consequently, the monthly mortgage payment for a typical home in the…
Monthly Mortgage Payments for Typical Home Rise $800 Since January
June 30, 2022
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Business & MarketseconomyFreddie MacinflationInvestmentmortgage paymentsmortgage ratesreal estateUSUS NewsUS Real Estate
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The battle waged by the Federal Reserve to curb inflation heightens mortgage costs, making homes less affordable for first-time buyers. The average rate on the popular 30-year fixed mortgage is now close to 6 percent, which is about double what it was at the beginning of the year. Consequently, the monthly mortgage payment for a typical home in the…
Home Price Growth Slows as Inventories Jump, a Sign of Cooling in the Housing Market
U.S. home prices rose 20.4 percent nationwide in April compared with the same month in 2021, according to the S&P Dow Jones Industrial’s CoreLogic Case-Shiller Index report on June 28 (pdf). This, compared with a 20.6 percent rise in March, appears to be a sign of a cooldown in price rises. The last deceleration in…
Potential Home Buyers Are Asking—Should I Stay or Should I Go
In 1982, the British punk rock band, The Clash, released their hit song “Should I Stay or Should I Go.” Forty years later, potential home buyers and sellers are now asking themselves that very same question. With mortgage interest rates currently near 6 percent for a 30-year fixed plan, many would-be home buyers are debating…
Is Now a Good Time to Buy or Sell a Home?
In 1982, the British punk rock band, The Clash, released their hit song “Should I Stay or Should I Go.” Forty years later, potential home buyers and sellers are now asking themselves that very same question. With mortgage interest rates currently near 6 percent for a 30-year fixed plan, many would-be home buyers are debating…
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