By the NumbersMortgage interest rates fall for a second weekRates dropped to 6.42% this week, down significantly from 6.73% just two weeks ago, which could give buyers a window to act.Dave GallagherMarch 23, 2023
By the NumbersFed moves forward with modest rate hikeThe Federal Reserve increased its benchmark rate by a quarter point, which is likely to influence mortgage rates and slow homebuying activity this spring.Dave GallagherMarch 22, 2023
By the NumbersHome sales way up in February, but spring numbers could dipNAR reported a big jump in existing home sales from January to February, though sales and prices are down compared to a year ago.Dave GallagherMarch 21, 2023
By the NumbersSmaller homes in demand as affordability stymies buyersZillow research found that homes with the smallest footprints have seen a higher rate of price growth and an annual decline in inventory.Dave GallagherMarch 20, 2023
By the NumbersFor homeowners, joy can trump ROI when choosing outdoor projectsIn a new report, the outdoor projects that rank highest on the "joy scale" tend to have lower recovery costs, suggesting that ROI isn't always a top concern.Dave GallagherMarch 17, 2023
By the NumbersAfter a topsy-turvy week, mortgage rates dropIn the wake of turbulence in the banking sector, the 30-year fixed-rate mortgage fell to 6.6%, down from 6.73% a week ago.Dave GallagherMarch 16, 2023
By the NumbersHomeowners have $90K more home equity than pre-pandemicA CoreLogic report found that average home equity rose more than 7% in 2022 — a small gain relative to the big jump seen in 2021, but still above average.Dave GallagherMarch 15, 2023
By the NumbersFlorida a rising MVP with #2 most valuable housing marketWith the value of its residential real estate surpassing $3.6 trillion, Florida edged out New York but trails California among markets with the top home values.Dave GallagherMarch 15, 2023
By the NumbersA fifth week of rising mortgage rates dampens hopes for a busy springFreddie Mac’s weekly survey reported yet another jump in the average 30-year mortgage rate, which is approaching its 2022 peak.Amie FisherMarch 9, 2023
By the NumbersWill the housing supply gap ever close?Housing completions went up in 2021, but builders tapped the brakes in 2022. At the same time, more households formed, leading to an ongoing shortage.Cheryl Reid-SimonsMarch 8, 2023
By the NumbersShare of million-dollar homes drops from 2022 peakAfter maxing out in June, the percentage of million-dollar homes fell and is nearly flat year-over-year. In pricey markets, the declines were more pronounced. Amie FisherMarch 6, 2023
By the NumbersHomes are getting smaller — which could improve affordabilityNewly built homes continue to lose square footage. But agents see an upside for buyers seeking more affordable options.Dave GallagherMarch 3, 2023
By the NumbersMore homes are hitting middle ageAs the housing stock ages, agents should educate themselves about the features and occasional pitfalls of older homes.Dave GallagherMarch 3, 2023
By the NumbersMortgage rates climb, may hit 7% soonRates inched up again this week, adding to affordability challenges ahead of the spring shopping season.Dave GallagherMarch 2, 2023
By the NumbersSupply of homes for sale up 68% as buyers remain sidelinedRealtor.com's monthly market report shows six straight months of increasing inventory.Linda F. HerseyMarch 2, 2023
By the NumbersHome prices continue to lose ground, but the Southeast remains strongThe Case-Shiller and FHFA housing indices for December showed further cooling of home prices in all metros.Linda F. HerseyFebruary 28, 2023
By the NumbersPending home sales show biggest gain since 2020NAR's monthly report found that as mortgage rates declined in January, pending home sales moved upward.Linda F. HerseyFebruary 27, 2023
By the NumbersValues of Black-owned homes rose the fastest during the pandemicRelative to overall home values, Black home values fared well in recent years according to Zillow data. But the racial homeownership gap remains wide.Dave GallagherFebruary 25, 2023
By the NumbersHome values have dropped from 2022 peak, opening doors for buyersA new Redfin report found the total value of U.S. homes has dropped $2.3 trillion since June 2022, with the biggest declines in the San Francisco Bay Area.Dave GallagherFebruary 24, 2023
By the NumbersHigher mortgage rates could mean a 'nobody's market' this spring Mortgage interest rates climbed again this week, with the daily rate approach levels not seen since November.Dave GallagherFebruary 23, 2023
By the NumbersLower mortgage insurance premiums to reduce costs for first-time buyersThe government announced a plan to cut mortgage insurance rates by 0.3 percentage points, which could save eligible homeowners an average of $800 a year.Dave GallagherFebruary 22, 2023
By the NumbersU.S. home sales drop for the 12th straight monthSales of existing homes fell again in January, but the slower rate of declines suggests the market is "bottoming out."Linda F. HerseyFebruary 21, 2023
By the NumbersSpring outlook still cloudy, but economists are cautiously optimisticAn upward trend in mortgage rates, after weeks of declines, has raised concerns about whether buyers will return. But pent-up demand may push them to act.Dave GallagherFebruary 18, 2023
By the NumbersMortgage rates move in the wrong direction for would-be buyersInterest rates are up for the second week in a row, and signs point to further bumps. This could put a damper on the spring selling season.Dave GallagherFebruary 16, 2023
By the NumbersForeclosures creating ripples, but not wavesThe number of distressed properties remains well below pre-pandemic levels, thanks to a strong job market and federal moratoriums, but they're creeping up.Dave GallagherFebruary 16, 2023
By the NumbersMost metros still seeing annual price gainsNAR's quarterly home price report found that prices were up year-over-year in nearly 90% of major metros, though the pace of appreciation has slowed. Linda F. HerseyFebruary 9, 2023
By the NumbersMortgage rates up slightly following jobs report, Fed rate hikeVolatility may be the norm for the near future, but mortgage interest rates remain down significantly from their November peak.Dave GallagherFebruary 9, 2023
By the NumbersHousing Market Decoded: Have mortgage rates peaked?Zillow Chief Economist Skylar Olsen looks at the state of mortgage rates and ways agents can help buyers and sellers in this rebalancing cycle.Skylar OlsenFebruary 8, 2023
By the NumbersHome appreciation slows to lowest level in more than 2 yearsCoreLogic’s latest home price index shows year-over-year home appreciation of 6.9%, the lowest rate since late summer of 2020.Dave GallagherFebruary 7, 2023
By the NumbersTrends 2023: Where movers are going and what they wantNearly half of movers are moving for “housing-related reasons” such as a transition from owning to renting. The South and West are popular destinations.T3 SixtyFebruary 6, 2023
By the NumbersMortgage interest rates inch closer to 6%Compared to November's peak, today's rates could allow millions of additional buyers to afford a home.Dave GallagherFebruary 2, 2023
By the NumbersWill your market favor buyers or sellers this year? Yes, no or maybeThe Knock Buyer-Seller Market Index forecasts that many markets will shift to neutral or buyers market territory by late summer or early fall.Dave GallagherFebruary 2, 2023
By the NumbersInventory is up, but the pace of sales remains slowThe latest monthly report from Realtor.com offers a familiar refrain: The market is sluggish, due in large part to affordability.Dave GallagherFebruary 2, 2023
By the NumbersAs expected, the Fed raises rates for the 8th time since MarchThe latest rate hike of a quarter point is the smallest increase since rates began their steady climb last spring.Linda F. HerseyFebruary 1, 2023
By the NumbersHome prices, sales off in November amid higher mortgage ratesThe S&P CoreLogic Case-Shiller Index for November showed a monthly drop in home prices as buyers retreated in response to rate hikes, affordability concerns.Linda F. HerseyJanuary 31, 2023
By the NumbersSunshine state irresistible to buyers in 2022A new NAR analysis found that Florida led the way in population growth in 2022, with net migration far exceeding that of runner-up Texas.Dave GallagherJanuary 30, 2023
By the NumbersMigration hits a new high, with Florida a top destinationNew data from Redfin finds a record percentage of people are looking to move to another metro area, with affordability playing a bigger role.Dave GallagherJanuary 24, 2023
By the NumbersHome sales down again, but may ‘pick up soon’Existing home sales dipped 1.5% in December, defying predictions for a bigger fall, according to the National Association of Realtors.Linda F. HerseyJanuary 20, 2023
By the NumbersAs interest rates decline, loan activity begins to bounce backThe 30-year fixed-rate mortgage averaged 6.15% this week, the lowest rate since September.Dave GallagherJanuary 19, 2023
By the NumbersA tough start for buyers — and renters — in 2023A new report from ATTOM finds renting is more affordable than owning across most of the U.S., a big change from a year ago.Dave GallagherJanuary 18, 2023
By the NumbersQueen City takes the crown in Zillow's hottest markets for 2023Charlotte, NC, topped the list of hot markets, along with other "relatively affordable" cities clustered in the Eastern U.S.Linda F. HerseyJanuary 12, 2023
By the NumbersRedfin helping buyers understand energy costsThe company has added a feature to its listings that gives buyers an estimate of a home's electricity usage, seasonal changes and cost.Dave GallagherJanuary 12, 2023
By the NumbersMortgage rates dip as inflation slowsFollowing a two-week uptick, the 30-year mortgage rate dropped this week, averaging 6.33% on Jan. 12, down from 6.48% the week before.Dave GallagherJanuary 12, 2023
By the NumbersInventory rising in nearly every major metroA Realtor.com report found the number of homes for sale was up significantly year-over-year in December, but still well below pre-pandemic levels.Dave GallagherJanuary 12, 2023
By the NumbersConsumer confidence in homebuying moves up slightlyFannie Mae’s Home Purchase Sentiment Index edged higher with more consumers saying it is a good time to buy a house.Linda F. HerseyJanuary 9, 2023
By the NumbersYes, your buyer can bid on that $1M homeFor the first time ever, the baseline conforming loan limit topped $1 million in high-cost areas, giving buyers more purchase options.Dave GallagherJanuary 6, 2023
By the NumbersConcessions are back: Sellers willing to negotiate, lower pricesAs a sign of shifting market dynamics, Redfin reported a record number of seller concessions in the fourth quarter.Dave GallagherJanuary 6, 2023
By the Numbers30-year mortgage rate inches upward as housing market remains sluggishThe rate now sits at 6.48%, up from 6.42% the week before. A year ago, the average rate was 3.22%.Dave GallagherJanuary 5, 2023
By the NumbersEast vs. West: Where sellers, buyers have the advantage in 2023A new market forecast predicts the top 5 buyers markets this year will be west of the Mississippi, while the top 5 sellers markets will be in the east.Dave GallagherJanuary 5, 2023
By the NumbersFlorida, Texas or bust: Top mover destinationsIn its growth index report, U-Haul found more one-way truck customers moved to Southern and Southeastern states in 2022.Dave GallagherJanuary 4, 2023
By the NumbersThese were the hottest (and coldest markets) in 2022Cities in the Midwest and South topped Realtor.com's list of markets with the biggest gains in price per square foot.Dave GallagherJanuary 4, 2023
By the NumbersHousing Market Decoded: 6 housing stats to watchHousing data is everywhere, and keeping up with the stream of new information can be challenging. Dr. Paul Bishop highlights a few key data points to follow.Paul BishopDecember 29, 2022
By the NumbersEven wealthy buyers are hitting the pause buttonA new Redfin report estimates sales of luxury homes dropped 38.1% year-over-year, the biggest decline in 10 years.Dave GallagherDecember 28, 2022
By the NumbersHome price growth continues downward trend, Case-Shiller reportsPrice gains slowed in October for the fourth straight month, dipping to 9.2% year-over-year, down from around 20% during the first half of the year.Linda F. HerseyDecember 27, 2022
By the NumbersBet you can't guess Zillow’s pick for most popular cityZillow’s annual rankings are dominated by second-tier cities that are more affordable and a short drive from major metro areas.Linda F. HerseyDecember 25, 2022
By the NumbersCompass agents predict a buyers market, local growth in 2023Economists have offered their take on the year ahead, but what about the on-the-ground perspective? See what Compass agents expect to see in 2023.Linda F. HerseyDecember 23, 2022
By the NumbersNew home sales increase for the second monthSingle-family home sales rose by nearly 6% in November over the previous month. But the number was far below 2021.Linda F. HerseyDecember 23, 2022
By the Numbers30-year interest rate continues downward trendFreddie Mac reported another small drop in mortgage rates, with the 30-year fixed-rate mortgage now at 6.27% after six weeks of declines.Linda F. HerseyDecember 22, 2022
By the NumbersAs inventory builds, will buyers return to the market in early 2023?The number of homes for sale jumped a record 15% year-over-year, but mortgage rates will dictate affordability and buyer interest.Dave GallagherDecember 8, 2022
By the NumbersGreat deals in the Great Plains: Kansas is tops for first-time buyersWichita was No. 1 among the 10 best metros for first-time buyers, offering a mix of affordable homes, good inventory and a higher share of price cuts.Cheryl Reid-SimonsDecember 7, 2022
By the NumbersA year of declines: Redfin sees prices, sales and mortgage rates falling in 2023Redfin economists offer up 12 predictions for the year ahead and foresee a challenging real estate market for agents and brokers. Linda F. HerseyDecember 6, 2022
By the Numbers2023 could be a year of paradoxes, with slow sales but rising pricesRealtor.com economists predict an unusual year ahead, with higher interest rates and more inventory, but not the drop in prices that would typically follow.Dave GallagherNovember 30, 2022
By the Numbers2023 housing market predictions: Common threadsAll the forecasts are in. See what economists agree on — and where their predictions for 2023 diverge.Dave GallagherJanuary 1, 2023
By the NumbersReal estate investors sat out the fourth quarterA recent report found a record drop investor purchases as interest rates rose and prices began to decline.Dave GallagherFebruary 17, 2023
By the NumbersPending home sales are off for the sixth monthThe number of signed contracts to buy existing homes fell again in November, the National Association of Realtors reported.Linda F. HerseyDecember 28, 2022
By the NumbersNovember home sales drop for 10th straight monthThe National Association of Realtors reported that existing home sales were off by more than 7% from October and 35.4% year-over-year.Linda F. HerseyDecember 21, 2022
By the NumbersForeclosures on the rise, but remain in checkATTOM's monthly Foreclosure Market Report found filings were up 57% year-over-years still but well below pre-pandemic levels.Dave GallagherDecember 7, 2022
By the NumbersA record number of sellers took their homes off the market this fallRedfin reports that 2% of U.S. homes were delisted each week during the past three months. In recent years the peak was around 1.6%.Dave GallagherDecember 2, 2022
By the NumbersLooking for high-value homes? Find the nearest Trader Joe's A study released by ATTOM found differences in values and appreciation based on a home's proximity to specialty grocery stores.Dave GallagherNovember 22, 2022
By the NumbersNewly constructed homes are getting smallerWith rising interest rates cutting into the amount of square footage buyers can afford, new home sizes have been trending down. Dave GallagherNovember 21, 2022
By the NumbersResidential construction slowdown could mean inventory woes in 2023After remaining relatively stable in the first half of 2022, multifamily builder confidence dropped significantly in Q3.Dave GallagherNovember 18, 2022
By the NumbersHave down payment, will travelRelocation picked up in 2022, with buyers seeking out more affordable homes in Florida, Texas and California.Amie FisherMarch 9, 2023
By the NumbersWhy a market correction in the U.S. could have global effectsA new report by the Dallas Federal Reserve said that "frothiness" in the real estate marketplace could lead to a "deep global housing slide."Linda F. HerseyMarch 1, 2023
By the NumbersPositive jobs report may mean prolonged inflation, high interest ratesWith the latest jobs numbers, the unemployment rate is at its lowest level in more than 50 years. It's good news for workers, but could spell more rate hikes.Dave GallagherFebruary 3, 2023
By the NumbersPending home sales rise as loan rates stabilizeFor the first time since May, the number of homes under contract increased by a small but notable 2.5%, signaling a potential shift in the market.Linda F. HerseyJanuary 27, 2023
By the NumbersInterest rates continue downward trend, but what’s next is unclearThis week's rate of 6.13% is nearing a level where it may create some demand, particularly from first-time homebuyers. Dave GallagherJanuary 26, 2023
By the NumbersDecember chill could thaw out by spring for a ‘boring’ yearIf mortgage rates continue to decline, we could see a more normal spring selling season, according to a Zillow economist.Dave GallagherJanuary 20, 2023
By the NumbersBuyers grapple with uncertainty but have reason to be hopefulWary of making a bad decision in a shifting market, buyers are weighing their options — and waiting for prices to fall along with interest rates.Cheryl Reid-SimonsJanuary 18, 2023
By the NumbersOlder Americans will contribute meaningfully to inventory in 2023While families with school-aged children still account for the most listings, retirees and empty-nesters make up a significant market share.Dave GallagherJanuary 18, 2023
By the NumbersThe next few weeks will tell us where the market is headed in 2023The ATTOM/Altos Research Housing Market Outlook expects interest rates to remain elevated, leading to price drops of around 5% and a mild recession.Dave GallagherDecember 20, 2022
By the NumbersMortgage rates continue to soften, but buyers aren’t respondingThe average rate for a 30-year mortgage was 6.33% this week. It’s now the fourth consecutive week of rate drops.Dave GallagherDecember 8, 2022
By the NumbersNortheast and California counties top list of ‘most vulnerable’ marketsA new ATTOM report looked at affordability, foreclosures and other factors to determine the most and least vulnerable housing markets among nearly 600 counties.Dave GallagherNovember 30, 2022
By the NumbersMortgage rates tick back up after a six-week declineThe 30-year fixed rate increased to 6.42% after nudging down to 6.27% the previous week, ending a six-week downward trend.Linda F. HerseyDecember 29, 2022
By the NumbersAfter a year of declining confidence, what's ahead for builders?The National Association of Home Builders’ survey showed confidence dropped for the 12th straight month in December, but things may be leveling out.Dave GallagherDecember 19, 2022
By the NumbersAppraisal values grow on the Gulf Coast, wane on the West CoastFlorida was the big winner in a newly released dataset from the FHFA showing quarterly and annual appraisal values for the top 100 U.S. metros.Cheryl Reid-SimonsDecember 16, 2022
By the NumbersCondos are holding their value in markets across the USSince peaking in the spring, condominium prices have fallen 4.4% nationally, while single-family prices fell 8.6%.Dave GallagherDecember 15, 2022
By the NumbersMortgage rates inch down for fifth straight weekDespite the Fed's half-point rate increase on Wednesday, the mortgage market continues to see declining rates, dropping to 6.31% today.Dave GallagherDecember 15, 2022
By the NumbersFed raises rates again, but eases paceWith inflation showing early signs of cooling, the Fed announced a half-point rate increase — a quarter point less than its last four hikes.Linda F. HerseyDecember 14, 2022
By the NumbersHomeowners who want to move feel 'stuck'A recent survey by Point found that 90% of homeowners who'd like to move in 2023 think it would be too costly.Dave GallagherDecember 13, 2022
By the NumbersNAR 2023 forecast: Expect a soft landing nationally, with some turbulenceNAR's Lawrence Yun and a panel of four other economists agreed that a crash was unlikely, but discussed both new and chronic issues affecting the market.Dave GallagherDecember 13, 2022
By the NumbersMortgage interest rates continue downward trendThe mortgage rate averaged 6.49% this week, according to Freddie Mac. That’s down from over 7% just a few weeks ago.Dave GallagherDecember 1, 2022
By the NumbersMortgage rate drops — is it enough to entice potential buyers?The average 30-year fixed-rate mortgage rate was 6.61% on Nov. 17, down nearly half a point from last week, suggesting that inflation may have peaked.Dave GallagherNovember 17, 2022
By the NumbersBuyers taking out fewer mortgages, looking for cheaper homesIn the face of high interest rates and high home prices, the number of residential mortgages issued has dropped nearly 47% over the past year.Dave GallagherNovember 16, 2022
By the NumbersListings and prices decline, but there's no freefallThe latest housing market indicators continue to trend slightly against sellers, but buyers are even more hesitant to enter the market.Dave GallagherNovember 14, 2022
By the NumbersHere’s where housing inventory might be headed in 2023After years of low inventory, Mike Simonsen of Altos Research expects housing inventory to approach more normal levels by the end of summer 2023.Dave GallagherNovember 12, 2022
By the NumbersReal estate slowdown an opportunity for military familiesAffordability challenges are real, but military families can leverage benefits like VA loans to reduce or eliminate their down payment.Dave GallagherNovember 11, 2022
By the NumbersShare of first-time homebuyers drops to historic lowA lack of inventory, rising interest rates and inflation are cutting more first-time buyers — especially minority buyers — out of the market.Linda F. HerseyNovember 10, 2022
By the NumbersInflation cooling slightly, but mortgage rates climb back over 7%Inflation numbers were lower than expected in October, with housing prices representing half of the increase, while mortgage rates crept up.Linda F. HerseyNovember 10, 2022
By the NumbersShare of new construction homes hits a record high in Q3Buyers and sellers of existing homes are sitting on the sidelines while builders try to unload their inventory of newly completed homes. Dave GallagherNovember 8, 2022
By the NumbersInventory hits a two-year high — but that doesn’t mean buyers are bitingThe inventory numbers should be good news for buyers, but affordability, combined with seller hesitancy, means the market is not yet buyer-friendly.Dave GallagherNovember 3, 2022
By the NumbersBuyers are getting less home for their moneyBuyers in the 100 largest cities have lost up to 1,140 square feet of living space due to higher prices and interest rates.Linda F. HerseyNovember 29, 2022