Another brutal day on the stock market: major indexes tumbled, with the Dow hitting its lowest point this year. House Republicans showcase their “Commitment to America” plan—their promise to the people in the run-up to the midterm elections. The UK’s new leaders launch a strategy for growth, including tax cuts and more economic freedom. Will it save the…
Home Prices May Drop 20 Percent by Mid-2023: Expert; House GOP Outlines Midterm Vision | NTD Business
Sales of Previously Owned Homes Fell in August, as Prices Ease From Record Highs
September 22, 2022
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30-year mortgageBusiness & MarketseconomyHome saleshousing marketinflationinterest ratesreal estateUSUS Real Estate
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Sales of previously owned homes fell in August from July for the seventh consecutive month of decline, while prices declined from record highs. The annual rate of existing home sales fell 0.4 percent, to 4.80 million units, last month, the slowest pace since early in the pandemic in May 2020, according to the National Association of…
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For the first time since the housing crash more than a decade ago, mortgage rates have exceeded 6 percent, rising alongside the Federal Reserve’s inflation-busting tightening efforts. The 30-year fixed-rate mortgage averaged 6.02 percent for the week ending on Sept. 15, according to the new Freddie Mac Primary Mortgage Market Survey (PMMS), up from…
Homebuilder Pessimism Deepens As Housing Recession Shows ‘No Signs of Abating’: NAHB
Homebuilder pessimism has deepened as confidence in the U.S. housing market continues its downward spiral amid skyrocketing mortgage rates and inflation. Home construction businesses blame rising rates for the decline in sentiment, by making housing less affordable for first-time buyers at a time when single-family home prices are at an all-time high. Supply shortages and…
Investor Exodus and the Continued Increase of Housing Inventory
Wall street investors are selling homes at big losses into an already struggling U.S. housing market. One online company that is having difficulties due to the current housing trends is Opendoor Technologies. Opendoor is a prominent player in the selling and buying of housing inventory through an online resale process once the property has been…
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BC Home Sales to Continue to Decline Into Next Year Due to High Mortgage Rates: Report
The trend of declining home sales in British Columbia, which are already below normal, is forecast to continue into next year as rapidly rising mortgage rates weigh on buyers, says the B.C. Real Estate Association (BCREA). In its forecast report released on Sept. 8, BCREA said residential home sales are projected to decline 34.4 percent…
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By Jeff Ostrowski From Bankrate The U.S. housing market may be starting to slow down, but it is still hot. Double-digit appreciation is commonplace. Many sellers are still giddily sifting through multiple offers, and frantic buyers continue to pay more than asking prices—sometimes by $100,000 or more. Yes, the real estate party remains in full swing, far longer…
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