Weekly Market Update

High prices and economic uncertainty kept demand muted; now, rates are already rising again and global tensions could add to homebuyer hesitation.  The median monthly housing payment was $2,591 during the four weeks ending March 1, down 2.8% year over year.  Payments are falling largely thanks to the weekly average mortgage rate dropping to 5.98% […]

Lower rates haven’t yet brought homebuyers off the sidelines, but hope is in the air as we approach spring.  The weekly average mortgage rate has dropped to 6.01%, its lowest level since September 2022. That has pushed the median U.S. monthly housing payment down to $2,599, 2.6% lower than a year ago. Wages are nearly

The typical home is taking 67 days to go under contract, the longest span in seven years.  U.S pending home sales fell 5.8% from a year earlier during the four weeks ending February 15, the biggest decline in a year. The typical home that does go under contract is taking 67 days to do so–a

The typical home that sells takes 66 days to do so–the longest span in seven years–as buyers take their time looking at their options and negotiating with sellers.  U.S. pending home sales fell 5.1% year over year during the four weeks ending February 8, the biggest decline in over a year.  On a local level,

New listings and pending home sales are improving. But the homes that do go under contract are taking a long time to do so.  New listings of U.S. homes for sale rose about 1% from a year earlier during the four weeks ending January 25, the first increase in more than two months.  There are