Some would-be homebuyers are hesitating as housing costs rise and the ongoing Iran war makes the economy feel shaky. Fewer house hunters are going under contract to buy homes. U.S. pending home sales fell 1.5% from a week earlier on a seasonally adjusted basis during the week ending May 24, the second straight decline after […]
Higher Mortgage Rates Push Pending Home Sales Down for Second Straight Week Read More »
With hundreds of thousands more home sellers than buyers in the market, fewer house hunters feel inclined to make cash offers to stand out in bidding wars. Economic uncertainty is also encouraging buyers to hold onto cash and finance home purchases. Just under three in 10 (28.8%) U.S. homebuyers paid in all cash in March,
29% of U.S. Homebuyers Paid Cash in March–the Lowest Share For That Month Since 2020 Read More »
Homebuying affordability improved slightly in April because mortgage rates declined while incomes rose. Still, the income required to afford a home was $29,000 higher than the typical U.S. income–and mortgage rates rose again in May, potentially erasing some of the affordability gains made in April. A household earning the average U.S. income would need to
The Income Needed to Afford a Home Declined For Seventh Straight Month in April Read More »
The median luxury sale price is up 4% year over year—more than double the gain in non luxury prices. Luxury pending home sales are also up 4%—the biggest increase in over a year. San Francisco’s luxury market is booming, with sales up nearly 50%—the most in the nation. Rising demand and prices are buoying luxury
Luxury Home Prices Rise Amid Uptick in High-End Homebuying and Selling Read More »
Contract cancellations declined slightly in April as homebuyers and sellers gained a clearer sense of the housing market after years of volatility, and as demand picked up. Homebuyers were most likely to back out of deals in Atlanta, San Antonio and other Sun Belt metro areas that are big-time buyer’s markets. Contract cancellations were least
Home Purchase Cancellations Are No Longer on the Rise As Demand Ticks Up Read More »
Mortgage rates jumped to a 10-month high, spooking would-be homebuyers and sellers after a few weeks of solid demand. U.S. pending home sales fell 1.1% from a week earlier during the week ending May 17, the first decline since early April. Pending sales are still at their second-highest level since September 2022, but it’s notable
Pending Home Sales Slip for First Time Since Early April as Mortgage Rates Climb Read More »
