Key developments: Recent reports highlight a mixed but gradually improving housing market. Nationwide inventory is expanding, with homes listed up in 70% of markets and notable jumps in Seattle (listings up 21.5%). At the same time, overall sales…
Continue reading Home Prices Edge Higher as Listings Rise but Sales SlowKey developments: Recent reports highlight a modest upward trend in home prices despite broader market headwinds. Increased inventory in most markets—70% of 930 markets saw more homes listed—has given buyers more options, yet sales have softened, exemplified by…
Continue reading Home Prices Edge Higher as Listings Rise but Sales SlowKey developments: – Mortgage rates have surged past 7%, prompting warnings of a potential housing collapse if rates hit 8% next year, which could shrink existing‑home sales to under 4 million units. – Inventory has rebounded to pre‑pandemic levels,…
Continue reading US and Global Home Prices Tread a Tightrope Amid Rising Mortgage RatesKey developments: – Mortgage rates have risen past the 7% mark, with U.S. rates holding steady at 7.4% and UK rates climbing enough to drag house‑price indices into decline. The higher cost of borrowing is already reflected in…
Continue reading Home Prices Stall as Higher Mortgage Rates Spur Record Price Cuts and Inventory GainsPending home sales fell 4% in September, the steepest decline since 2014, and contract cancellations surged to 14.5%, according to Redfin. The surge in cancellations and the rise in available inventory – the highest level since March 2020…
Continue reading U.S. Home Prices Slip Further as Pending Sales Hit Lowest Since 2014Pending home sales slipped 4% in September, according to Redfin, marking the lowest level since 2014. The drop coincided with a 14.5% contract‑cancellation rate and record‑high inventory levels, the most abundant since March 2020. First‑time buyers, who are…
Continue reading Pending Home Sales Fall 4% in September as Buyers Face 7% Mortgage Rates
