Pending home sales are up 1% from a year ago, and new listings are stagnant. Redfin agents say some house hunters are staying on the sidelines because they want mortgage rates to drop more significantly before jumping in. The daily average mortgage rate declined to an 11-month low of 6.28% this week, upping homebuyers’ purchasing […]
Purchasing power has increased $7,500 in the last week alone, with rates falling to 6.3% on a weak August jobs report. The daily average mortgage rate dropped to 6.29% on September 5, the lowest level in 11 months. That means a homebuyer on a $3,000 monthly budget has gained $7,500 since one week ago, when
In the second quarter, investor purchases of U.S. homes fell to their lowest springtime level since 2020. The decline was especially big for condos. But investor market share held steady from a year earlier, signaling that declining investor activity reflects the overall housing-market slowdown. U.S. real estate investors purchased roughly 52,000 homes in the second
The weekly average mortgage rate has ticked down to its lowest level in over 10 months. But home-sale prices are still rising, and pending home sales are up just 1.6% from a year ago. The weekly average mortgage rate has ticked down to 6.56%, the lowest level in nearly a year. Declining mortgage rates have
Cheaper Mortgage Payments Bring a Trickle, Not a Surge, of Homebuying Demand Read More »
The number of homeowner households fell 0.1% year over year in the second quarter—a small decline, but the first since 2016. Meanwhile, the number of renter households rose 2.6%—one of the biggest increases in recent years. The number of homeowner households in America fell 0.1% year over year to an estimated 86.2 million in the
U.S. Homeowner Population Stops Growing for First Time in Nearly a Decade Read More »
Home sales are falling a bit faster in seasonal towns than non-seasonal towns, partly because second-home buyers are backing off amid economic uncertainty and tight short-term rental regulations. That’s causing sale prices in vacation destinations to flatten. The number of homes sold in seasonal towns, those where vacation demand drives the housing market, fell 3%
In Vacation Towns, Home Sales Are Falling and Prices Are Stagnating Read More »
