U.S. home prices rose 20.4 percent nationwide in April compared with the same month in 2021, according to the S&P Dow Jones Industrial’s CoreLogic Case-Shiller Index report on June 28 (pdf). This, compared with a 20.6 percent rise in March, appears to be a sign of a cooldown in price rises. The last deceleration in…
Home Price Growth Slows as Inventories Jump, a Sign of Cooling in the Housing Market
US Mortgage Applications Drop as Home Prices Soar
Rising mortgage rates in the United States are hitting the housing industry hard, as several areas in the market are seeing declines, according to the May 24 weekly survey from the Mortgage Banker’s Association for the week ending May 20. The Market Composite Index, a measure of demand for mortgage loan applications, slipped 1.2 percent on a…
Previously Owned Homes Sales In April Fall To Lowest Levels Since The Pandemic
May 20, 2022
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Sales of previously owned homes in April tumbled for the third straight month to their slowest pace since the start of the pandemic, according to the National Association of Realtors on May 19. Existing home sales fell to a seasonally adjusted annual rate of 5.61 million, while sales were down 2.4 percent from March and…
US Homes Are Selling Above Their Listing Price as Competition for Housing Soars
More than almost 50 percent of homes sold in the United States in March were above the initial listing price, in 20 of the nation’s top 50 metropolitan regions, according to residential real estate search group, OJO Labs, on April 19. Rising interest rates and a nationwide housing shortage are causing selling prices and mortgage rates to skyrocket…
US Home Sales Market Dropped in December
Home sales across the United States fell in December for the first time in four months amid higher prices and low housing stock continued to shut out first-time buyers. First-time buyers accounted for 30 percent of sales last month, compared to 31 percent a year ago. The availability of existing houses fell to the lowest…
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