By the Numbers

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.