Sales of newly built single-family homes are now 41.5 percent higher than they were last year at the same time, according to new numbers from the U.S. Census Bureau and the Department of Housing and Urban Development. The year-over-year improvement comes as sales reached an annual rate of 999,000 in October. Last October, the projected …
It’s well known that spring and summer are the housing market’s hottest seasons. But while they’re definitely the busiest times of year, are they really the best for buyers? Well, according to one recent analysis, no. In fact, ATTOM Data Solutions looked at 27 million single-family home and condo sales that took place over the …
The S&P Case-Shiller Home Price Indices are among the most closely followed measures of US home values. According to their most recent release, their National Home Price Index showed a 7 percent year-over-year gain in September. It was the biggest increase in six years and a significant spike from the previous month, when prices were …
If you’ve been searching for a house to buy, you’ve likely heard that inventory is low right now. There are fewer homes for sale than normal. That means, more competition, higher prices, and a tougher time finding a home that fits your needs and lifestyle. That can be frustrating, but there’s good news on the …
Sales of previously owned homes increased 4.3 percent in October, according to new numbers from the National Association of Realtors. The improvement marks the fifth consecutive monthly gain and puts sales 26.6 percent higher than they were last year at the same time. Lawrence Yun, NAR’s chief economist, says home sales have now recovered what …
Home Sales Surge Has Offset Spring Market Losses Read More »
The Mortgage Bankers Association’s Mortgage Credit Availability Index measures how easy or difficult it is for borrowers to secure financing. If the index increases, that means lending standards have loosened and borrowers should expect to have an easier time qualifying for a loan. When it tightens, the opposite is true. In October, the MBA found …
There are different types of competition. Some are more enjoyable than others. Competition on a golf course, for example, can be fun, while in the housing market, competition can cause buyers and their budgets stress. That’s why a new report detailing how many homes for sale received multiple offers in October offers good and bad …
The monthly mortgage payment on the typical single-family home is now $1,059, according to new third-quarter data from the National Association of Realtors. Up $27 from last year, the increase comes as the NAR’s most recent quarterly price report shows home prices up in every measured metro area. In fact, more than half of the …
Favorable mortgage rates have helped the housing market handle affordability challenges, low inventory, and the coronavirus. With record low rates counteracting continuing price increases, demand from home buyers has stayed strong and the market has been resilient. And fortunately, according to a recent forecast from Freddie Mac, low rates aren’t going anywhere any time soon. …
Mortgage Rates Expected To Stay Low Through 2021 Read More »
