Economy

U.S. Suffering From The Second Biggest Home Price Correction Of The Post-WWII Era

Economy, Residential / By

Published by FOX Business | December 30, 2022 55% of Americans say they cannot afford to buy their home in today’s market, according to the CATO Institute 2022 Housing Affordability National Survey The U.S. housing market is experiencing its second-biggest home price correction of the post-World War II era. Macro Trends Advisors founding partner Mitch Roschelle …

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Homelessness Ticked Up In 2022 as Rising Rents Continued To Price People Out

Economy, Rental Property, Residential / By

Published by REALTOR.com | December 19, 2022 Homelessness rose this year as rents and home prices spiked across the country. In January 2022, nearly 582,500 people experienced homelessness, according to a recent U.S. Department of Housing and Urban Development report. That figure is a slight increase—about 0.3%—from 2020. However, homelessness fell 10% over the past 15 years. …

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Pending U.S. Home Sales Drop 37%, Largest Decline On Record

Economy / By

Published by Independent Sentinel | December 2, 2022 Evidence is mounting that the current housing downturn is growing more severe by the day. U.S. home prices are plunging at their most significant clip since the housing market cratered during the Great Recession, mortgage analytics firm Black Knight said in a report released in August. According to …

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Report: Dem-run Cities Top List of Places Homebuyers Want to Leave

Economy / By

Published by FOX Business | December 1, 2022 Homebuyers are looking to relocate from two expensive California cities more than any other major metro in the U.S.  A new Redfin report found buyers were looking to leave San Francisco and Los Angeles, with 24% and 20% of local users searching elsewhere, respectively. “Homebuyers typically leave expensive coastal …

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MBA Predicts Mortgage Rates To Stay Near 6.7% Through End Of Year

Economy, Interest Rates / By

Published by Forbes.com | November 30, 2022 Data suggest mortgage rates may not be as volatile in the last month of the year. The latest data from the Mortgage Bankers Association released this morning shows mortgage applications still continue to decrease from the highs they saw a year ago, but several economic signs suggest interest …

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Home Prices Plunge In Pandemic Boomtowns As The Market Slumps

Economy / By

Published by Forbes.com | November 28, 2022 Places where home prices shot up due to out-of-towners moving in with big budgets are now seeing prices rapidly decline. Home-price growth has slowed fastest in pandemic boomtowns including Phoenix, Austin, Texas and Boise, Idaho as high mortgage rates and an uncertain economy deter would-be buyers. This is …

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Rental Price Growth Slows To The Lowest Level In 18 Months

Economy, Rental Property / By

Published by Forbes.com | November 18, 2022 The median rent in the top 50 metros in October was $1,734, down $25 from September. Renters throughout the country are finally seeing a bit of relief when it comes to the seemingly relentless pace of rent growth. The Realtor.com October Rental Report details the shifting marketplace reality. …

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Affordability Squeezing Homebuyers’ Wallets as Builders Face ‘Worst-Case Scenario’

Economy, Mortgages / By

Published by FOX News | November 17, 2022 Redfin reports homebuyers need to make at least $107K annually to afford typical U.S. home The leader of the nation’s largest trade association for homebuilders has warned of a “worst-case scenario” facing some housing markets as homebuyers get squeezed. “Right now, in almost no market in this …

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Housing Agency Reports Record Financial Cushion as it Braces for Market Downturn

Economy, Mortgages / By

Published by FOX Business | November 15, 2022 FHA’s capital reserves rise to $141.7 billion, up $42 billion from 2021, giving officials room to trim mortgage costs A federal housing agency on Tuesday said its financial reserves have reached record levels and that it was well positioned to weather a mortgage-market downturn. The audit, released …

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