By the Numbers

So much for that housing market recovery everyone was expecting. Builders and boomers could provide bright spots, but what about the NAR settlement?

Mortgage rates dipped this week, and the latest inflation and jobs data increase the chance of a rate cut in September.

Supply is well above last year’s levels, but lower mortgage rates will be key to luring buyers into the market.

Bucking industry trends, consumer sentiment is at the highest level in more than two years, according to Fannie Mae’s latest survey.

Austin, Boise, Phoenix and Salt Lake City home prices soared during Covid, and while gains have slowed, they haven’t “seen anything resembling a price crash.”

With average rates approaching 7%, it’s still a tough housing market — but there are signs it may be easing.

ATTOM’s midyear review looks at where housing supply is headed along with what to expect with home prices and foreclosures.

While interest rates continue to edge down, sales have not picked up heading into summer: “This will take many years to work itself out.”

May sales were well below April numbers and down 16.5% year-over-year, a sign that builder incentives may not be enough to overcome high rates and prices.

The median sale price for existing homes hit a record $419,300 in May, NAR reported, but home sales were lackluster and new construction has cooled.

There could be a window of opportunity for would-be buyers as mortgage rates continue to ease and homes sit on the market longer, prompting price cuts.

It’s all about housing, which has an outsized effect on the Consumer Price Index — and is contributing to the Fed’s lack of action on interest rates.

ATTOM researchers found that counties around Chicago and NYC, as well as several in inland California, would be the most vulnerable in a housing downturn.

Buyers have more inventory to choose from, but the uptick in demand could be short-lived as the lock-in effect and price growth continue to stymie sales.

The Federal Reserve left rates unchanged despite some easing of inflation, but signaled that more cuts are likely next year.

A new survey of lenders reveals a 38 basis point difference between mortgage rates by state, which can mean hundreds of dollars a year for borrowers.

Fannie Mae’s sentiment index hit a new low in May, with only 14% saying now is a good time to buy a home, but sales activity is expected to increase.

According to a new CoreLogic report, the typical homeowner saw their home equity increase by $28,000 over the past year.

Despite an increase in supply, affordability continues to keep many buyers on the sidelines, and rates aren’t expected to fall significantly this year.

A new report from Realtor.com reveals a massive increase in price per square foot over the past five years.