How will our homes evolve in the new year?

The only region of the U.S. that didn’t experience an annual decline in existing home sales was the Midwest, where sales were unchanged year over year.

Detached single-family homes remained the most popular type of housing, making up 79% of all home purchases during the past year.

The median price of a new home sold during the month fell to $418,800 from $433,100 in August, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported. 

The median existing-home price for all housing types in September was $394,300, up 2.8% from $383,500 in September 2022.   

Specifically, single-family homes were built at a seasonally adjusted annual rate of 963,000, up 3.2% from 933,000 in August and up 8.6% from 887,000 a year earlier, according to government figures. 

Brutalist style and sensory gardens may seem at odds — but they are both hot home design trends that will rule 2024. At least, according to new predictions from Zillow.

A 15% rise in applications for adjustable-rate mortgages drove overall mortgage applications higher in the most recent weekly survey. 

Regionally, pending sales were down across the board on both a monthly and an annual basis, the National Association of REALTORS® said. 

Among the top upgrades: large showers.

Total housing inventory at the end of August was 1.11 million units, up 3.7% from July but down 14.6% on a year-over-year basis, the National Association of REALTORS® said. 

Sidelined homebuyers can breathe a sigh of relief. According to Realtor.com, the best week of the year to buy a home is still ahead of us.

The median area for a new single-family home fell to 2,191 square feet in the second quarter — the lowest recorded size since 2010.

CoreLogic expects prices to continue to grow through next year, albeit at a more traditional pace than in the height of the pandemic. 

Those looking to buy a house will be paying a premium as inventory continues to be an issue.

Eighteen percent of millennials — approximately one in five — believe they will never become a homeowner, according to a recent survey from Redfin.