Trends
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New-home permits fell 11.2% month over month, while housing completions jumped 10.8% in what one observer said could have “worrisome” long-term consequences for the nation’s housing supply.
Current real estate market conditions have not discouraged buyers from their plans of homeownership, according to a new survey from RE/MAX.
The 30-year fixed-rate inched to 6.42%, which is still close to the lowest rate in a month, the group said.
A report from Realtor.com shows that many areas that experienced substantial growth during the pandemic are now posting some of the country’s steepest price reductions.
A report from Redfin shows that 29% of single-family homes for sale in the U.S. were new constructions in the third quarter of 2022.
Data from the PEW Trust shows that investment companies make up approximately a quarter of the entire single-family home market across the U.S.
October’s 4.6% monthly drop follows a 10.2% decline in September, the National Association of REALTORS® reported.
Housing prices were down in all 20 cities tracked by the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.
New-home sales rose 7.5% month over month, while the median price of a new house surged to $493,000 from $455,700 in September and $427,300 a year ago, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.
The pace of new single-family home sales, meanwhile, fell 6.1% from September to 598,000.
The median existing-home price rose for the 128th month in a row, extending its record-breaking streak of increases.
The number of homes under construction rose during the month, as homebuilders continued to work through a large backlog of homes.
The largest single-week decline in conventional mortgage rates since July brought the first increase in home-loan applications since September, the Mortgage Bankers Association said.
The 44th edition of the in-depth forecast report examined 80 cities to determine trends in the real estate industry for 2023.
Looking ahead, CoreLogic expects national year-over-year appreciation to slow to 3.9% by September 2023.
September is the fourth month in a row to see declining sales activity.