By the NumbersMortgage rates soar to 23-year highEven as interest rates climb, home prices aren't budging, a combo which may "put the brakes on the housing market."Dave GallagherSeptember 28, 2023
By the NumbersPending home sales slid a staggering 7.1% in AugustThe decline could mark "the beginning of the end of this resilient housing market," according to one economist.AJ LaTraceSeptember 28, 2023
By the NumbersAffordability driving Sun Belt moves, despite climate risksThe latest Redfin migration report found that more home shoppers are looking at lower-cost cities that have seen increasing climate-related dangers.Dave GallagherSeptember 27, 2023
By the NumbersCase-Shiller: Home prices peaked this summerPrices in July topped last year’s high, but slowing demand due to elevated mortgage rates is expected to bring price declines and soften new home sales.Dave GallagherSeptember 26, 2023
By the NumbersExisting home sales fall for the sixth time in 2023Sales dipped in August but have been relatively stable on average — though well below last year's levels, reflecting high prices and limited supply.AJ LaTraceSeptember 21, 2023
By the NumbersMortgage rate relief? Not this yearRates inched up this week, and with Fed signals that interest rates will remain “higher for longer,” buyers may continue to face tough options.Dave GallagherSeptember 21, 2023
By the NumbersGet your buyers ready: The best time to buy a house is…Forget the spring and summer rush — home shoppers will have better luck making a deal during the first week of October, according to Realtor.com.AJ LaTraceSeptember 20, 2023
By the NumbersNo rate hikes (yet) as Fed shakes off mortgage ‘lock-in’ effectThe Fed did not boost interest rates at its September meeting but warned that one more hike is likely this year.AJ LaTraceSeptember 20, 2023
By the NumbersHome construction slowed in August as builder confidence fellThe multifamily sector saw the largest monthly declines, but single-family starts were also sluggish as mortgage rates remained high.Dave GallagherSeptember 19, 2023
By the NumbersAs mortgage rates rise, so does buyer’s remorseCanceled deals impacted nearly 16% of homes under contract in August as elevated interest rates and home prices led to sticker shock for some buyers.Dave GallagherSeptember 15, 2023
By the NumbersA fall reprieve unlikely as mortgage rates inch upWith inflation proving tough to tame, 7% mortgages may be the norm for a while.Dave GallagherSeptember 14, 2023
By the NumbersWhat’s turning homeowners into sellers? Getting back to the officeA new Redfin survey found that a significant number of people who moved during the pandemic may need to move back, even if they lose money.Dave GallagherSeptember 13, 2023
By the NumbersWhat do today’s inflation numbers mean for mortgage rates?Some called the latest report “disappointing,” but economists still expect a downward trend in the months ahead.Dave GallagherSeptember 13, 2023
By the NumbersSome good news for homebuyers: Listings are upA Zillow report found that new listings rose by 4% in August, an atypical late-summer boost that may offer buyers a few fresh options.AJ LaTraceSeptember 12, 2023
By the NumbersHome price growth picked up this summerCoreLogic found home prices in July were 2.5% higher than a year ago, up from 1.6% appreciation in the spring.Dave GallagherSeptember 12, 2023
By the NumbersAnother sign of a market rebound? Home equity is back upOn average, U.S. homeowners gained nearly $14,000 in equity since the beginning of the year, though equity is down slightly from last year's peak.AJ LaTraceSeptember 8, 2023
By the NumbersFrom ‘frenzy’ to ‘fatigue’ as mortgage rates, applications dipThe average rate on a 30-year loan settled at 7.12% this week, but a decline in mortgage applications suggests that “consumers are weary.”Amie FisherSeptember 7, 2023
By the NumbersMortgage payments jump 60% in just two yearsThe latest Black Knight Mortgage Monitor Report paints a bleak picture of housing affordability with “limited room for a rebound” anytime soon.Cheryl Reid-SimonsSeptember 6, 2023
By the NumbersMost buyers weigh climate risk when home shoppingA new survey from Zillow found that more than 80% of homebuyers evaluate climate and environmental risks when considering where to live.AJ LaTraceSeptember 6, 2023
By the NumbersHousing Market Decoded: Where is inventory headed? What housing starts revealNew construction homes and multifamily housing are on different tracks. Here’s why that matters, and what’s coming in the next year.Nancy Vanden HoutenSeptember 2, 2023
By the NumbersMortgage rates level off but remain above 7%The 30-year fixed-rate mortgage averaged 7.18% this week, dropping for the first time in five weeks.Dave GallagherAugust 31, 2023
By the NumbersPending home sales up for a second month but still sluggishPending sales in July rose a modest 0.9%, but that could reflect an extended homebuying season as inventory has stifled buying activity.Dave GallagherAugust 30, 2023
By the NumbersHigh home prices in June foretold a tough summer for buyersThe latest Case-Shiller data found that prices continued to creep up through June, returning to peak levels. But things may shift this fall. Dave GallagherAugust 29, 2023
By the NumbersDo new and older homes cost the same now? It’s complicatedLimited inventory is changing the behavior of buyers and the price of new construction relative to existing homes, several experts told Real Estate News.AJ LaTraceAugust 26, 2023
By the NumbersMortgage rates surge to new heightsFor the fifth straight week, 30-year mortgage rates went up, hitting 7.23% — the highest level since 2001.Dave GallagherAugust 24, 2023
By the NumbersNew home sales still hot, but will fall bring a chill?New construction got another boost in July, with sales up 31.5% year-over-year. Rising mortgage rates may reverse that trend. Dave GallagherAugust 23, 2023
By the NumbersExisting home sales fall again — except in the WestNAR reported a 2.2% national decline in sales in July, but the West bucked the trend, and more first-time buyers entered the market.AJ LaTraceAugust 22, 2023
By the NumbersA wave of housing forecast updates point the same way: upResearchers from Zillow, Freddie Mac, and Goldman Sachs all issued revised, rising 2023 home value and price forecasts in the past week.AJ LaTraceAugust 22, 2023
By the NumbersNew homes shrink as costs of buying growThe median square footage for a home under construction — now 2,191 — has hit its lowest point since 2010.Dave GallagherAugust 21, 2023
By the NumbersMortgage interest rates hit highest level in more than 20 yearsAfter a fourth week of increases, average rates reached 7.09% this week, passing last fall's peak.Dave GallagherAugust 17, 2023
By the NumbersBuilder confidence slides as mortgage rates climb back to 7%After seven consecutive months of improving confidence, homebuilders were feeling less optimistic in August.AJ LaTraceAugust 16, 2023
By the NumbersUpward mobility isn’t cheap for U.S. homebuyersA new report from Redfin found that homes in high-opportunity neighborhoods sold for nearly 40% more than homes in low-opportunity neighborhoods.Dave GallagherAugust 14, 2023
By the NumbersNearly 60% of major metros saw home prices rise last quarterMany of the biggest annual price gains were in the Midwest, with Fond du Lac, Wisconsin, leading the way with a 25.3% gain.AJ LaTraceAugust 10, 2023
By the NumbersMortgage rates return to peak levels, inflation ticks upAverage rates reached 6.96% again after rising three weeks in a row, and after falling last month, inflation crept back up.Dave GallagherAugust 10, 2023
By the NumbersRecord-high home prices are back in many metrosA new Black Knight report reveals major gains in the Midwest and Northeast, signals an end to the U.S. housing correction.AJ LaTraceAugust 7, 2023
By the NumbersDemand for land is hot, hot, hotMore than half of the land brokers in a recent survey said the national land market is “hot” or “on fire.”AJ LaTraceAugust 7, 2023
By the NumbersMore listing opportunities may be on the horizonNearly a quarter of homeowners are considering selling in the next 3 years, according to a Zillow survey — a significant increase over prior surveys. AJ LaTraceAugust 4, 2023
By the NumbersMortgage rates approach 7% following U.S. rating downgradeFreddie Mac put the average 30-year fixed-rate mortgage at 6.9% this week, just below the peak seen in mid-July.Dave GallagherAugust 3, 2023
By the NumbersAs buyers move farther away, agents need to be ready for themNAR’s midyear forecast touched on a variety of trends, highlighting increased moving distances as a notable recent change.Dave GallagherAugust 2, 2023
By the NumbersHELOCs now a riskier proposition for investorsHigh interest rates and economic uncertainty have made home equity lines of credit costlier and more precarious.AJ LaTraceAugust 1, 2023
By the NumbersLuxury market split: West Coast prices drop, East Coast upNationwide, luxury home prices are still on the rise, but several Western cities have experienced double-digit declines in the past year.Dave GallagherJuly 31, 2023
By the NumbersWhere buyers can live large without breaking the bankNashville tops the list of cities with "just right" homes with ample square footage and big yards near urban centers.Cheryl Reid-SimonsJuly 28, 2023
By the NumbersMortgage rates move closer to 7%The 30-year fixed-rate mortgage rose to 6.81% this week as the Fed raised its benchmark rate to the highest level since 2001.Dave GallagherJuly 27, 2023
By the NumbersPending home sales ticked up in JuneThe 0.3% gain is the first increase in four months, NAR reported, suggesting that “the housing recession is over.”AJ LaTraceJuly 27, 2023
By the NumbersHome equity reaches a 4-year highThe percentage of equity-rich homes hit 49% in the second quarter, rebounding after a decline earlier in the year.Dave GallagherJuly 26, 2023
By the NumbersAfter pausing in June, the Fed hikes rates againThe benchmark rate is now in the 5.25-5.5% range, the highest level in 22 years.Dave GallagherJuly 26, 2023
By the NumbersNew home sales dipped in June but are well above levels from a year agoPrices also fell slightly, nearly closing the gap between new and existing home prices.AJ LaTraceJuly 26, 2023
By the NumbersHome prices rise 4 months in a rowThe Case-Shiller index for May shows steady home price growth since January and a slight dip compared to this time last year.AJ LaTraceJuly 25, 2023
By the NumbersFlorida and Texas markets are slowly regaining some balanceAfter heating way up over the past few years, prices and inventory in two of the most populous states are showing signs of stabilizing.AJ LaTraceJuly 24, 2023
By the NumbersThe latest housing trend: Permanent vacationsMore people are moving closer to beaches and further from urban centers to places with city amenities and lower housing costs, according to a new report.Cheryl Reid-SimonsJuly 23, 2023
By the NumbersHousing Market Decoded: Don't expect price drops... yetA correction doesn't seem likely this year, but things could improve in 2024 if mortgage rates settle around 5%, says economist Matthew Gardner.Matthew GardnerJuly 21, 2023
By the NumbersExisting home sales are down, prices are way upNAR reported that existing home sales fell in June and dropped nearly 19% year-over-year. But median sale prices reached a near-record high.AJ LaTraceJuly 20, 2023
By the NumbersMortgage rates post biggest weekly drop in 3 monthsThe 30-year fixed-rate mortgage averaged 6.78% this week, down from nearly 7% a week before, suggesting that cooling inflation is having an effect.Dave GallagherJuly 20, 2023
By the NumbersIt’s a tough market — but a profitable one for sellersThe latest ATTOM home sale report found that second-quarter profit margins rose for the first time in a year.Dave GallagherJuly 20, 2023
By the NumbersBuilder confidence is up as more buyers opt for new homesWhile rising interest rates have slowed the rate of increase, confidence is at its highest level in more than a year.Dave GallagherJuly 18, 2023
By the NumbersForeclosures trending up but well below crisis levelsMore than 185,000 properties had foreclosure activity in the first half of 2023, up 13% from last year.Dave GallagherJuly 18, 2023
By the NumbersMortgage rates surge even as inflation fallsMortgage rates jumped for the third week in a row and are hovering near 7%, but lower-than-expected inflation could mean the economy is normalizing.Amie FisherJuly 13, 2023
By the NumbersCould home prices and interest rates both fall?Morningstar has made a bold prediction about where mortgage rates and home prices are headed, but for now, prices are still rising.AJ LaTraceJuly 11, 2023
By the NumbersBringing back the dream for California’s first-time buyersThe state’s "Dream for All" down payment assistance program has received more funding after quickly running out of money earlier this year.Dave GallagherJuly 11, 2023
By the NumbersHomes selling above ask, but will reluctant sellers list?It's been nearly a year since the average home sold for more than its list price, but it may not be enough to spark a wave of inventory.AJ LaTraceJuly 8, 2023
By the NumbersSlow job growth could signal an economic shiftA lackluster June jobs report suggests the Fed’s aggressive fight against inflation may finally be working, which could influence future rate hikes.AJ LaTraceJuly 7, 2023
By the NumbersMortgage rates reach a new high for 2023At 6.81%, the weekly average for a 30-year fixed-rate mortgage is the highest level seen since last fall, when rates spiked above 7%.Dave GallagherJuly 6, 2023
By the NumbersBuyers will pay a premium for walkable communitiesYounger generations are especially motivated by walkability, even if it means paying more, giving up yard space or living in a multifamily dwelling. Robert DavisJuly 5, 2023
By the NumbersHousing market's 'about face' upended expectations for 2023Inventory levels aren't following their typical pattern, reversing predictions for the second half of the year.Dave GallagherJuly 1, 2023
By the NumbersPending home sales fell, but a summer bump is still possibleNAR's Pending Home Sales Index for May showed national declines but significant gains in the Northeast.Cheryl Reid-SimonsJune 29, 2023
By the NumbersMortgage rates tick up as economy continues to show strengthThe 30-year fixed-rate mortgage averaged 6.71% this week, snapping three straight weeks of declines.Dave GallagherJune 29, 2023
By the NumbersIt’s a good time to be selling (and buying) new homesNew home sales are up 20% year-over-year, according to the U.S. Census Bureau, and lower median prices could help first-time buyers.Dave GallagherJune 27, 2023
By the NumbersHome prices are on the reboundThe latest Case-Shiller Index found that after falling in the second half of 2022, home prices have been trending up since January.Dave GallagherJune 27, 2023
By the NumbersCalifornia 'engineered' its housing crisis — now it's trying to fix itState Senator Scott Wiener blames California's housing woes on decades of "terrible policy decisions," but he says legislation can help turn things around.Dave GallagherJune 25, 2023
By the NumbersHomeownership, affordability gaps persist as prices remain highHarvard's annual housing report found little change in the racial homeownership gap as prices rise and supply stagnates, but federal programs may help.Dave GallagherJune 23, 2023
By the NumbersExisting home sales and inventory tick up slightly as prices softenNumbers are still far below where they were a year ago, and inventory gains are largely due to the "abundant" supply of newly constructed homes.AJ LaTraceJune 22, 2023
By the NumbersLittle movement in mortgage rates signals a slow summerRates dipped only slightly this week in Freddie Mac's survey, inching down from 6.69% to 6.67%.Dave GallagherUpdated July 5, 2023
By the NumbersRevised forecast a sign that spring was more showers than flowersRealtor.com previously predicted home prices would rise 5.4% by the end of 2023 but now expects a 0.6% decline.Dave GallagherJune 22, 2023
By the NumbersNearly 1 million new homes are in the pipelineSingle-family housing starts hit an annualized rate of 997,000 in May, up significantly from earlier this spring but still down year-over-year.Dave GallagherJune 20, 2023
By the NumbersHomeownership on the rise for lower-income householdsThe percentage of below-median income households that own a home has climbed significantly, hitting 53% in the first quarter of 2023.Dave GallagherJune 17, 2023
By the NumbersDallas is the latest city to clamp down on short-term rentalsThis week, the Dallas City Council voted to ban short-term rentals from residential zones, with no exceptions for existing STRs.AJ LaTraceJune 17, 2023
By the NumbersMortgage rates hold relatively steady after inflation reportThe 30-year fixed-rate mortgage averaged 6.69% this week in the Freddie Mac Survey, down just a hair from last week’s 6.71%.Dave GallagherJune 15, 2023
By the NumbersWhy sell when you still have that new-house smell?A Redfin report found that nearly 60% of homeowners with mortgages have lived in their home for 4 years or less, and almost all have low interest rates.Dave GallagherJune 15, 2023
By the NumbersHere’s what Fed Chair Jerome Powell said about real estate todayAfter 10 consecutive rate hikes, the Federal Reserve announced at today's meeting that it would hold rates steady.AJ LaTraceJune 14, 2023
By the NumbersInflation is slowing, which could soften interest ratesInflation rose only slightly in May to an annual rate of 4%, down significantly from its peak of more than 9% last summer.Dave GallagherJune 13, 2023
By the NumbersLow inventory fueling a hot market, for the few who are in itHome values are up, and so are bidding wars, according to the latest Zillow market data.Dave GallagherJune 13, 2023
By the NumbersThere are fewer millionaires — but don’t blame it on real estateA World Wealth Report found that the number of millionaires fell by 800,000 in one year, but real estate has been a fairly resilient asset. AJ LaTraceJune 12, 2023
By the NumbersHomebuyers are gonna need a pep talk — here’s whyMost consumers think it's a bad time to buy, and many expect rates to rise — but nearly a fifth of adults still plan to buy a home in the next 12 months.Dave GallagherJune 10, 2023
By the NumbersAffordable starter homes may be going 'extinct'Renters in many markets can no longer afford to make the leap to homeownership, but an increase in build-to-rent inventory could help ease pressure.Robert DavisJune 9, 2023
By the NumbersMortgage rates finally inch down, but buyers aren’t pouncingThe 30-year fixed-rate mortgage averaged 6.71% this week, the first drop in nearly a month.Dave GallagherJune 8, 2023
By the NumbersHomeowner equity declines but is still riding highHome equity dipped last quarter for the first time in a decade, but big gains in recent years have kept most homeowners squarely in the black.Dave GallagherJune 8, 2023
By the NumbersHome appreciation sluggish but could double by end of yearCoreLogic reported that national home price growth slowed to just 2% year over year in April, but gains (and losses) varied locally.AJ LaTraceJune 7, 2023
By the NumbersTighter credit adds another hurdle for buyersBlack Knight reports that recent borrowers had higher credit scores and larger down payments, suggesting that lenders have tightened their standards. Dave GallagherJune 6, 2023
By the NumbersStudent loan payments are coming back — will they sideline buyers?As part of the government debt-ceiling deal, student loan payments that had been paused for the past three years will resume at the end of August.Dave GallagherJune 6, 2023
By the NumbersBuyers look to the South and Midwest, but costs can be highMidwest and Sunbelt markets continue to attract home shoppers, but affordability is precarious, especially in Florida as insurance rates rise.AJ LaTraceJune 5, 2023
By the NumbersMost Americans support adding density to combat affordability woesHousing supply has not kept up with demand, but building more units in existing residential neighborhoods could be part of the solution.Robert DavisJune 1, 2023
By the NumbersMortgage rates jump, but debt deal should reduce pressureThe 30-year fixed-rate mortgage surged by nearly a quarter point this week to reach the highest level since November.Dave GallagherJune 1, 2023
By the NumbersMortgage activity at a 2-decade lowA report from ATTOM found that elevated interest rates put a freeze on residential mortgages, refis and HELOCs in the first quarter of 2023.Dave GallagherMay 31, 2023
By the NumbersWhere are home prices heading? Economists are splitWith so many factors pushing and pulling on the economy right now, there is little consensus on whether prices will rise or fall in the coming year.Dave GallagherMay 31, 2023
By the NumbersHome price growth in early spring higher than anticipatedWhile sluggish year-over-year, appreciation picked up between February and March, especially in West Coast cities, according to the Case-Shiller Index.Dave GallagherMay 30, 2023
By the NumbersFewer people are moving, but those who are seek new communitiesThe latest Redfin report finds that while moving is down overall, a higher percentage of those who move are relocating to other parts of the U.S.Dave GallagherMay 26, 2023
By the NumbersIn a slow market, more sellers are willing to make a dealA Redfin report found that nearly 43% of home sellers made concessions in the early spring, a big jump from 26% a year ago.Dave GallagherMay 26, 2023
By the NumbersMortgage rates rise amid debt ceiling dramaThe 30-year fixed-rate mortgage rose to 6.57%, according to Freddie Mac’s weekly survey, while a daily survey put rates above 7%.Dave GallagherMay 25, 2023
By the NumbersPending home sales flat from March to AprilLow inventory combined with a lack of affordability continues to stifle spring sales nationally, though numbers were up in some regions. AJ LaTraceMay 25, 2023
By the NumbersBig ups, big downs widen the home price gap across the U.S.A new Redfin report found that the difference in home price growth (or declines) among metro areas is nearly the largest it's been in three decades.Dave GallagherMay 24, 2023
By the NumbersNewly built homes a hot commodity for spring buyersAs existing home listings have fallen, the inventory of new homes has increased — and prices have dropped — making them an attractive option.Dave GallagherMay 23, 2023