National property broker Redfin is reporting this week that many U.S. homebuyers are retreating back to the sidelines as mortgage rates ascend toward 7 percent. Redfin’s Homebuyer Demand Index — a measure of requests for tours and other services from Redfin agents–fell 1% from a week ago, the first decline after a month of increases,…
Home Sales Are Bottoming Out, Says NAR According to the National Association of Realtors, existing U.S. home sales fell for the twelfth straight month in January 2023. Month-over-month sales were mixed among the four major U.S. regions, as the South and West registered increases, while the East and Midwest experienced declines. All regions recorded year-over-year…
According to CoreLogic’s monthly Loan Performance Insights Report for December 2022, 3% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 0.4 percentage point decrease compared with 3.4% recorded in December 2021 and less than a 0.1 percentage point increase…
Based on CoreLogic’s latest CoreLogic Home Price Index for December 2022, the effect of rising mortgage rates on U.S. housing demand in 2022 became even more evident in December, with annual home price growth dipping to 6.9%, down from a series high of 20% appreciation in April. Only nine states registered double-digit year-over-year price increases…
According to a new report from CBRE, the finance and insurance industry supplanted the tech industry last year for the largest share of the top 100 office leases in the U.S. Finance and insurance companies claimed 25 of the largest 100 office leases of 2022 by square footage, up from 12 in 2021. Tech companies…
I’ve read endless posts about people backing out of their contracts because of values going down. I’m puzzled at why they don’t assess the market before this and negotiate. I get harassed by a builder who did 1200 starts 30mins in bfe. They’ve already shaved off 25% of the price in January. With this trajectory…
In this market and current circumstances, is buying land still a good investment? My wife and I have the opportunity to buy a 0.40 acre lot in a small village in rural NW Ohio. The current owners bought the lot back in spring of 2021 for $34k. He’s getting desperate to dump this now. It’s…
The real estate market is on just about everyone’s mind these days.
If you’re following today’s housing market, you know two of the top issues consumers face are inflation and mortgage rates.