By the Numbers

Rates inched up this week, and with Fed signals that interest rates will remain “higher for longer,” buyers may continue to face tough options.

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.

The Fed did not boost interest rates at its September meeting but warned that one more hike is likely this year.

The multifamily sector saw the largest monthly declines, but single-family starts were also sluggish as mortgage rates remained high.

Canceled deals impacted nearly 16% of homes under contract in August as elevated interest rates and home prices led to sticker shock for some buyers.

With inflation proving tough to tame, 7% mortgages may be the norm for a while.

A 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.

Some called the latest report “disappointing,” but economists still expect a downward trend in the months ahead.

A Zillow report found that new listings rose by 4% in August, an atypical late-summer boost that may offer buyers a few fresh options.

CoreLogic found home prices in July were 2.5% higher than a year ago, up from 1.6% appreciation in the spring.

On 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.

The average rate on a 30-year loan settled at 7.12% this week, but a decline in mortgage applications suggests that “consumers are weary.”

The latest Black Knight Mortgage Monitor Report paints a bleak picture of housing affordability with “limited room for a rebound” anytime soon.

A new survey from Zillow found that more than 80% of homebuyers evaluate climate and environmental risks when considering where to live.

New construction homes and multifamily housing are on different tracks. Here’s why that matters, and what’s coming in the next year.

The 30-year fixed-rate mortgage averaged 7.18% this week, dropping for the first time in five weeks.

Pending sales in July rose a modest 0.9%, but that could reflect an extended homebuying season as inventory has stifled buying activity.

The latest Case-Shiller data found that prices continued to creep up through June, returning to peak levels. But things may shift this fall.

Limited inventory is changing the behavior of buyers and the price of new construction relative to existing homes, several experts told Real Estate News.

For the fifth straight week, 30-year mortgage rates went up, hitting 7.23% — the highest level since 2001.

New construction got another boost in July, with sales up 31.5% year-over-year. Rising mortgage rates may reverse that trend.

NAR reported a 2.2% national decline in sales in July, but the West bucked the trend, and more first-time buyers entered the market.

Researchers from Zillow, Freddie Mac, and Goldman Sachs all issued revised, rising 2023 home value and price forecasts in the past week.

The median square footage for a home under construction — now 2,191 — has hit its lowest point since 2010.

After a fourth week of increases, average rates reached 7.09% this week, passing last fall's peak.

After seven consecutive months of improving confidence, homebuilders were feeling less optimistic in August.

A new report from Redfin found that homes in high-opportunity neighborhoods sold for nearly 40% more than homes in low-opportunity neighborhoods.

Many of the biggest annual price gains were in the Midwest, with Fond du Lac, Wisconsin, leading the way with a 25.3% gain.

Average rates reached 6.96% again after rising three weeks in a row, and after falling last month, inflation crept back up.

A new Black Knight report reveals major gains in the Midwest and Northeast, signals an end to the U.S. housing correction.

More than half of the land brokers in a recent survey said the national land market is “hot” or “on fire.”

Nearly a quarter of homeowners are considering selling in the next 3 years, according to a Zillow survey — a significant increase over prior surveys.

Freddie Mac put the average 30-year fixed-rate mortgage at 6.9% this week, just below the peak seen in mid-July.

NAR’s midyear forecast touched on a variety of trends, highlighting increased moving distances as a notable recent change.

High interest rates and economic uncertainty have made home equity lines of credit costlier and more precarious.

Nationwide, luxury home prices are still on the rise, but several Western cities have experienced double-digit declines in the past year.

Nashville tops the list of cities with "just right" homes with ample square footage and big yards near urban centers.

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.

The 0.3% gain is the first increase in four months, NAR reported, suggesting that “the housing recession is over.”

The percentage of equity-rich homes hit 49% in the second quarter, rebounding after a decline earlier in the year.

The benchmark rate is now in the 5.25-5.5% range, the highest level in 22 years.

Prices also fell slightly, nearly closing the gap between new and existing home prices.

The Case-Shiller index for May shows steady home price growth since January and a slight dip compared to this time last year.

After heating way up over the past few years, prices and inventory in two of the most populous states are showing signs of stabilizing.

More 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.

A correction doesn't seem likely this year, but things could improve in 2024 if mortgage rates settle around 5%, says economist Matthew Gardner.

NAR reported that existing home sales fell in June and dropped nearly 19% year-over-year. But median sale prices reached a near-record high.

The 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.

The latest ATTOM home sale report found that second-quarter profit margins rose for the first time in a year.

While rising interest rates have slowed the rate of increase, confidence is at its highest level in more than a year.

More than 185,000 properties had foreclosure activity in the first half of 2023, up 13% from last year.

Mortgage 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.

Morningstar has made a bold prediction about where mortgage rates and home prices are headed, but for now, prices are still rising.

The state’s "Dream for All" down payment assistance program has received more funding after quickly running out of money earlier this year.

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.

A lackluster June jobs report suggests the Fed’s aggressive fight against inflation may finally be working, which could influence future rate hikes.

At 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%.

Younger generations are especially motivated by walkability, even if it means paying more, giving up yard space or living in a multifamily dwelling.

Inventory levels aren't following their typical pattern, reversing predictions for the second half of the year.

NAR's Pending Home Sales Index for May showed national declines but significant gains in the Northeast.

The 30-year fixed-rate mortgage averaged 6.71% this week, snapping three straight weeks of declines.

New home sales are up 20% year-over-year, according to the U.S. Census Bureau, and lower median prices could help first-time buyers.

The latest Case-Shiller Index found that after falling in the second half of 2022, home prices have been trending up since January.

State Senator Scott Wiener blames California's housing woes on decades of "terrible policy decisions," but he says legislation can help turn things around.

Harvard's annual housing report found little change in the racial homeownership gap as prices rise and supply stagnates, but federal programs may help.

Numbers are still far below where they were a year ago, and inventory gains are largely due to the "abundant" supply of newly constructed homes.

Rates dipped only slightly this week in Freddie Mac's survey, inching down from 6.69% to 6.67%.

Realtor.com previously predicted home prices would rise 5.4% by the end of 2023 but now expects a 0.6% decline.

Single-family housing starts hit an annualized rate of 997,000 in May, up significantly from earlier this spring but still down year-over-year.

The percentage of below-median income households that own a home has climbed significantly, hitting 53% in the first quarter of 2023.

This week, the Dallas City Council voted to ban short-term rentals from residential zones, with no exceptions for existing STRs.

The 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%.

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.

After 10 consecutive rate hikes, the Federal Reserve announced at today's meeting that it would hold rates steady.

Inflation rose only slightly in May to an annual rate of 4%, down significantly from its peak of more than 9% last summer.

Home values are up, and so are bidding wars, according to the latest Zillow market data.

A 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.

Most 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.

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.

The 30-year fixed-rate mortgage averaged 6.71% this week, the first drop in nearly a month.

Home 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.

CoreLogic reported that national home price growth slowed to just 2% year over year in April, but gains (and losses) varied locally.

Black Knight reports that recent borrowers had higher credit scores and larger down payments, suggesting that lenders have tightened their standards.

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.

Midwest and Sunbelt markets continue to attract home shoppers, but affordability is precarious, especially in Florida as insurance rates rise.

Housing supply has not kept up with demand, but building more units in existing residential neighborhoods could be part of the solution.

The 30-year fixed-rate mortgage surged by nearly a quarter point this week to reach the highest level since November.

A report from ATTOM found that elevated interest rates put a freeze on residential mortgages, refis and HELOCs in the first quarter of 2023.

With 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.

While sluggish year-over-year, appreciation picked up between February and March, especially in West Coast cities, according to the Case-Shiller Index.

The 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.

A Redfin report found that nearly 43% of home sellers made concessions in the early spring, a big jump from 26% a year ago.

The 30-year fixed-rate mortgage rose to 6.57%, according to Freddie Mac’s weekly survey, while a daily survey put rates above 7%.

Low inventory combined with a lack of affordability continues to stifle spring sales nationally, though numbers were up in some regions.

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.

As existing home listings have fallen, the inventory of new homes has increased — and prices have dropped — making them an attractive option.