Existing home sales have fallen to their slowest pace in 10 years, as the U.S. housing recession worsens. Home sales have not been this slow since September 2012, with the exception of the first few months of the pandemic, and are 23.8 percent lower from the same time last year. Sales of previously owned homes in…
Existing Home Sales Fall to a 10-Year Low as US Housing Recession Deepens
October 21, 2022
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Business & Marketseconomic policieseconomyHome salesinflationmortgage ratesreal estateUSUS Real Estate
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Homebuilder Confidence Falls for Record Tenth Straight Month
October 19, 2022
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Business & MarketsCompanieseconomic policieseconomyhome builder sentimentinflationInvestmentMarketsmortgage ratesreal estateUSUS Real Estate
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Home construction companies continue to be stuck in a deep rut, as confidence in the market falls once again this month. Rising mortgage rates and building material shortages have made new housing less affordable for most of the year, pushing away first-time buyers. The National Association of Home Builders (NAHB) reported on Oct. 19 that its monthly…
Homebuilder Confidence Falls for Record 10th Straight Month
October 19, 2022
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Business & MarketsCompanieseconomic policieseconomyhome builder sentimentinflationInvestmentMarketsmortgage ratesreal estateUSUS Real Estate
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Home construction companies continue to be stuck in a deep rut, as confidence in the market falls once again this month. Rising mortgage rates and building material shortages have made new housing less affordable for most of the year, pushing away first-time buyers. The National Association of Home Builders (NAHB) reported on Oct. 19 that its monthly…
In Times of High Inflation, What Happens to Rents?
Commentary In times of high inflation, what happens to rents? Tenants are getting squeezed with higher prices for food, medical care, gas, and everything else, hence they have less money available for paying rent. Will this also create a crisis for rent-collecting landlords that have their own set of mortgage and property-operating expenses? Any other…
California Home Sales Drop 30 Percent as Housing Recession Bites
Sales of homes in California were down more than 30 percent in September compared to a year prior, resuming a declining trend that began earlier this year amid soaring interest rates and inflation. Owing to a rise in rates, last month’s median home price was $821,680, which was down 2.1 percent from August, but up 1.6 percent…
For Sale by Owner Asked for Photo ID Before Showing. Why?
Dear Monty: We went to look at a home that was for sale by the owner. When we arrived, the owner greeted us at the door and asked to see my driver’s license. I was surprised, but I complied. My wife and I are wondering if this practice is something new. We saw a home…
The Power of Home Staging
By Cathy Hobbs From Tribune News Service Staging is a longtime secret weapon relating to selling a house. Ask any savvy real estate agent and they will likely admit that home staging is one of the key tools in their marketing toolbox. Why? The reality is that most potential buyers lack vision. A space that…
Realtors’ Association Projects Softening Housing Market With Moderate Recession in California in 2023
October 13, 2022
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Business & MarketsCalifornia housing marketeconomyMarketsmortgage ratesreal estateRegional-Local NewsU.S. real estate marketUSUS Real Estate
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As mortgage rates are up near 7 percent and home sales slow down across the country, many are wondering if the Golden State of California is still a seller’s market. Real estate experts predict that California’s housing market will soften in 2023, with home prices expected to fall by 8.8 percent. However, they believe that…
Real Estate Body Shoots Down Calls for Public ‘Landlord Register’
October 13, 2022
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Antonia MercorellaAustraliaBusiness & Marketseconomic policiesGlobal Real EstateInternationalQueenslandreal estateREIQWorld
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The Real Estate Institute of Queensland (REIQ) has criticised a proposal to create a “landlord register” that will tell the public how many properties an owner may have and their place of residence. The proposal, put forward by Tenants Queensland, argues that such a system would balance out a supposed imbalance of power between landlords…
Mortgage Demand Slump Deepens as Rates Climb to Highest Since 2006
October 12, 2022
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30-year mortgageBusiness & Marketseconomic policieseconomyinflationInvestmentMarketsmortgage applicationreal estateUSUS Real Estate
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Demand for home loans continues to slump as mortgage rates last week rose to their highest level in almost 21 years. Mortgage application volumes for a home purchase loan fell 2 percent for the week ending Oct. 7, 39 percent lower than the same week in 2021, according to a report by the Mortgage Bankers…
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