Is Relief Ahead For Home Buyers?

Monday August 15, 2022 comments

Is Relief Ahead For Home Buyers?

A new quarterly report from the National Association of Realtors found the median home price reached a new record high during the second quarter. By the end of June, it was up to $413,500. That's after the vast majority of metro areas saw double-digit price gains from the year before. Put simply, it got more expensive to buy a home this spring. But though buying got more costly during the first half of the year, could the second half of the year bring buyers some relief? Maybe, according to Lawrence Yun, NAR's chief economist. Yun says... Read More


How Competitive Is Today's Housing Market?

Sunday August 7, 2022 comments

How Competitive Is Today's Housing Market?

A competitive housing market can be stressful for home buyers. When there are more buyers than homes for sale, available homes sell quickly and for more than their asking price. It can put pressure on buyers and their budgets. So how competitive is today's market? Well, one good measure of competitiveness is showing activity. The higher the number of average showings per listing, the more competition there likely is between buyers. Fortunately for today's home shoppers, showing activity has been slowing. In fact, the number of housing... Read More


Price Gains Continue But At A Slower Pace

Friday July 29, 2022 comments

Price Gains Continue But At A Slower Pace

Home prices have been increasing at an accelerated pace for years now. That's great for homeowners but an obvious challenge for buyers, who could likely use some relief. Fortunately, they're starting to get it. The number of homes available for sale is improving and the added inventory should begin to correct some of the imbalance that's been driving prices higher. According to one recent analysis, it's already started. The latest SP Case-Shiller Indices – considered among the leading measures of U.S. home prices – shows price increases... Read More


New Home Construction Beats Last Year's Pace

Wednesday July 27, 2022 comments

New Home Construction Beats Last Year's Pace

The rate of new home construction is an important housing market indicator. It not only says something about the economy and buyer demand, it also tells you something about where home prices are headed. If new home construction is rising, inventory is improving and – with more homes available for sale – price increases are more likely to moderate. That means every prospective buyer benefits when more new homes are built, since the added housing supply helps keep prices in check. So what's currently happening in the new home market?... Read More


Low Inventory Still Ranks As Buyers' Top Problem

Monday July 18, 2022 comments

Low Inventory Still Ranks As Buyers' Top Problem

The number of homes for sale has recently showed signs of a rebound after hitting historic lows during the pandemic. The additional listings are obviously welcome news for prospective home buyers. But while there have been signs of improvement, listings remain low. In fact, according to one new survey of Realtors, too few homes for sale is still the leading factor holding their clients back from buying a house. In other words, the low supply of homes ranks as an even bigger hurdle than high home prices and the recent spike in mortgage... Read More


Americans Expect Fewer Price, Rate Increases

Tuesday July 12, 2022 comments

Americans Expect Fewer Price, Rate Increases

Fannie Mae's monthly Home Purchase Sentiment Index surveys Americans and asks them for their perception of the housing market and economy. Survey respondents are asked whether they think now is a good time to buy or sell a home, what they expect mortgage rates and home prices to do, and how they feel about their job and finances. In June, the index fell from the month before, as more participants expressed caution about the current housing market. Still, their long-term expectations were positive. In fact, the number who believe home... Read More


Early Inventory Gains Benefit Move-Up Buyers

Thursday July 7, 2022 comments

Early Inventory Gains Benefit Move-Up Buyers

The housing market is in transition. Conditions are changing quickly and that can be scary for prospective home buyers. But while the market is definitely changing, not all change has to be scary. For example, a new report from the National Association of Realtors' consumer website found the inventory of homes for sale has changed for the better. The number of homes for sale improved in June, with available listings climbing at their fastest pace ever. In fact, active inventory was up 18.7 percent year-over-year. That's great news for... Read More


New Home Supply Hits 14-Year High

Tuesday July 5, 2022 comments

New Home Supply Hits 14-Year High

The low supply of homes for sale has been the housing market's primary issue for years now. That's why an unexpectedly positive report from the U.S. Census Bureau and the Department of Housing and Urban Development is an encouraging sign for home buyers. The report shows the inventory of new homes for sale in May was at a 14-year high, with a 7.7-month supply available at the current sales pace. That's good news for home shoppers, since a growing inventory of available new homes is the fastest way to balance the market. It not only provides... Read More


Home Sales Return to Pre-Pandemic Levels

Sunday June 26, 2022 comments

Home Sales Return to Pre-Pandemic Levels

New data from the National Association of REALTORS® shows sales of previously owned homes fell in May. Existing home sales were down 3.4 percent from the month before and 8.6 percent from one year earlier. The decline is evidence that the market is beginning to level off, after two years of frenetic activity. Lawrence Yun, NAR's chief economist, says sales trends are starting to return to where they were pre-pandemic. “Home sales have essentially returned to the levels seen in 2019 – prior to the pandemic – after two years of... Read More


Home Builders Cautious About Market

Monday June 20, 2022 comments

Home Builders Cautious About Market

Home builders are a good gauge of where the housing market is headed. After all, their business depends on being able to tell when and where home buyers are looking to buy. So their perspective on the market for new homes is considered a good indicator of housing health. The National Association of Home Builders measures how confident builders are feeling with their monthly Housing Market Index. The index is based on a survey which scores builders' responses on a scale where any number above 50 indicates more of them say conditions are good... Read More


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