W. J. Mencarow | Paper Source Online

Fed Economist: U.S. Home Prices Could Plunge 20% Amid Risk of ‘Deep’ Housing Slide

Economy, Housing Market / By W. J. Mencarow

Published by Fox Business | March 2, 2023 U.S. housing market faces affordability crunch, threat of ‘deep’ price slide U.S. home prices could tumble as much as 20 percent as the highest mortgage rates in two decades threaten to trigger a “deep global housing slide,” according to research from the Federal Reserve Bank of Dallas. …

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The 10 U.S. Cities With the Biggest Increases in Homes for Sale

Housing Market, Residential / By W. J. Mencarow

Published by REALTOR.COM | February 28, 2023 The nation is still suffering from a severe housing shortage. But compared with one year ago, there are about 250,000 more homes for sale. Where are all the homes, anyway? Ever since the COVID-19 pandemic ignited a nationwide housing boom, wannabe buyers have been plagued by bone-dry home …

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Pending Home Sales Soared 8.1% in January

Housing Market, Residential / By W. J. Mencarow

Published by Breitbart News | February 27, 2023 The number of houses going under contract soared in January, although the sales volume remains well below last year’s level. The National Association of Realtors said its pending home sales index rose 8.1 percent in January, the largest monthly increase since the pandemic snapback in June of 2020. Economists …

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Rental Prices Continue To Tick Up, but the Wild Increases Appear To Be Over

Rental Property, Residential / By W. J. Mencarow

Published by REALTOR.com | February 23, 2023 As the new year kicked off, the wild run-ups in rental prices that terrorized tenants last year appear to have leveled off. January was the 12th month in row where rent growth slowed, according to the Realtor.com® monthly rental report. Monthly rents were down $80 from the peak in …

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NAR: ‘Home Sales Are Bottoming Out’

Housing Market, Residential / By W. J. Mencarow

Published by REALTOR.com | February 21, 2023 Spring is around the corner, and the signs are pointing to a pickup in sales on the horizon. Existing-home sales continued to ease in January, marking a yearlong stretch of declines coming off pandemic-fueled highs. But median home prices still are rising. Total existing-home sales—completed transactions that include …

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Housing Market Slows Again As Hot Inflation Drives Up Mortgage Rates

Interest Rates, Mortgages, Residential / By W. J. Mencarow

Published by Forbes.com | February 17, 2023 This week’s inflation data has pushed mortgage rates to the highest level in months—already sidelining some potential home buyers. According to real estate brokerage Redfin, home buying demand, as measured by tour requests from prospective homebuyers, fell for the first time in more than a month last week …

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Expect The Spring Housing Market To Be Calm, But Competitive

Housing Market, Residential / By W. J. Mencarow

Published by Forbes.com | February 16, 2023 Well-priced, well-marketed homes will receive attractive offers during their first weekend on the market. The fast-approaching spring home shopping season should feel a bit calmer than in recent years. Shoppers can expect competition for well-priced homes, but without the crowds of buyers that packed open houses like they …

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Housing Market Downturn Pushes Record Number Of Investors Away

Housing Market, Residential / By W. J. Mencarow

Published by Forbes.com | February 15, 2023 Last quarter’s drop in investor purchases surpassed the largest decline during the subprime mortgage crisis in 2008, when investor purchases slumped 45% as the housing market abruptly imploded. The number of homes scooped up by investors fell at a record pace last quarter amid higher mortgage rates and …

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Mortgage Activity Rebounds, Skewed Toward High-Priced Homes

Interest Rates, Mortgages, Residential / By W. J. Mencarow

Published by FOX Business | February 8, 2023 The average loan size increased in the past week to $428,500 – the largest average since May 2022 Activity in the housing market showed a rebound in the past week as mortgages rates fell for a fifth straight week. The 30-year fixed mortgage rate inched lower to 6.18%. …

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Home Prices Have Surged 42% in the Last 3 Years

Housing Market, Residential / By W. J. Mencarow

Published by REALTOR Magazine | February 9, 2023 A slowdown is now underway, says NAR Chief Economist Lawrence Yun. But don’t expect to see dramatic price drops. After three years of runaway home prices, buyers may soon find relief. In some markets, they may have already found it. The National Association of REALTORS’ latest quarterly …

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