A correction is coming, but the market can handle it
Bright MLS predicts some ups and downs for 2023, including drops in prices and mortgage rates, and a return to seasonal patterns in the spring.
December 7, 2022
Dave Gallagher
Director, News Reporting
Dave's journalism career spans 24 years covering business, the economy and real estate in Northwest Washington. He's also a numbers nerd, examining data to spot emerging trends in industries. Having started his career as a sports writer, he's a lifelong baseball and soccer fan and recently discovered pickleball. He grew up in Yosemite National Park and earned his journalism degree at Humboldt State University in northern California.
Page 50 of 52
- Builders haven't faced mass layoffs — at least not yetResidential construction has fared better than some parts of the real estate industry, with an increase in jobs year-over-year.December 5, 2022
- Can your buyer Airbnb that house? Redfin’s new zoning details provide answersIn an effort to increase data transparency, the brokerage’s search portal now offers land-use and zoning data on 70 million homes.December 5, 2022
- Zillow’s forecast for 2023: It’s all about affordabilityPredictions include a healthy housing market in the Midwest, more friends and family members pooling resources to buy a house, and more first-time landlords.December 2, 2022
- A 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%.December 2, 2022
- Opendoor co-founder steps down, president leavesThe company, which announced significant layoffs last month, replaced former CEO and co-founder Eric Wu with Carrie Wheeler, who joined as CFO in 2020.December 1, 2022
- Mortgage 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.December 1, 2022
- Northeast 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.November 30, 2022
- Buyers are gaining ground in markets across the U.S.Knock’s Buyer-Seller Market Index finds that more metros are becoming buyers markets, and the trend is expected to continue.November 30, 2022
- 2023 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.November 30, 2022
- Are your clients reluctant to get pre-approved? Here are some tipsA Zillow survey finds potential homebuyers spend as much time researching the purchase of a new TV as they do looking for the best mortgage loan.November 28, 2022
- Overall housing inventory declining, but that won’t lastWhile inventory is trending down ahead of the holidays, the pace is slower compared to recent years.November 23, 2022
- Interest rates tick downward but are still volatileIt's too soon to call it a trend, but the slight downtick in mortgage rates may give hope to potential buyers.November 23, 2022
- Looking for high-value homes? Find the nearest Trader Joe'sA study released by ATTOM found differences in values and appreciation based on a home's proximity to specialty grocery stores.November 22, 2022
- Newly 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.November 21, 2022
- Residential construction slowdown could mean inventory woes in 2023After remaining relatively stable in the first half of 2022, multifamily builder confidence dropped significantly in Q3.November 18, 2022
- iBuyer company Offerpad warned that stock may be delistedThe company received notice from the NYSE that it was not in compliance because its stock price stayed below $1 for 30 trading days.November 18, 2022
- Mortgage 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.November 17, 2022
- Rent price growth is slowing, but renters still can’t save enough to buyAfter skyrocketing during the pandemic, rents are now growing at a modest pace — but for many renters, buying a home remains out of reach.November 17, 2022
- Buyers 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.November 16, 2022
