This year, the U.S. housing market has been described as “a nightmare,” “very unusual” and “alarming,” along with expletives we can’t write here. And with good reason: home prices are near record highs, mortgage rates remain elevated, and not enough homes are being built to meet demand in many areas of the country. But recent […]
Inventory is growing more in Las Vegas than anywhere else in the nation while home sales fall, with many local residents backing off amid economic uncertainty and a faltering tourism industry. The total number of homes for sale in Las Vegas rose 31% year over year in July, the biggest increase of any major U.S.
Las Vegas Housing Supply Rises 31% As Demand Stumbles, Pushing Sale Prices Down Slightly Read More »
There are an estimated 1.43 million homebuyers in the U.S. housing market—the lowest level in records dating back to 2013 aside from the start of the pandemic. That’s making sellers skittish; the number of sellers has dipped by roughly 14,000 since May, falling for the first time in two years. Still, there are 36% more
Homebuyers Have Been Retreating. Now Sellers Are Too. Read More »
The difference between mortgage rates and the 10-year treasury yield has narrowed, signaling a potential boost for homebuyers. A decrease in the mortgage spread can cause mortgage rates to fall, even without the Fed cutting interest rates. The gap between 10-year treasury yields and mortgage rates (known as the mortgage spread) has dropped to its
But there are bright spots emerging on the affordability horizon, which could make it easier for young Americans to afford housing in the near future. Seven in 10 Gen Z and millennial renters struggle to afford their regular housing payments, as do 41% of homeowners in that age group, according to a recent Redfin survey.
A late-summer window of opportunity with relatively low mortgage rates is upon us, but it may be short-lived. Late August is typically a slow time for housing activity, with people on vacation and preparing kids to return to school. With mortgage rates now falling on news coming out of a Fed meeting in Jackson Hole,
Mortgage Rates are Falling. Here’s What Homebuyers and Sellers Should Do About it. Read More »
