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Diana Olick, NBR, CNBC.com’s Posts
Sales of existing homes will fall 1.8% from 2019, according to the forecast.
Pending home sales, which measure signed contracts, fell 1.7% in October month-to-month, according to the National Association of Realtors.
On a national level, prices rose 3.2% annually in September, up from a 3.1% gain in August, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index.
At the end of October, inventory nationwide fell to a 3.9-month supply, according to the National Association of Realtors.
After a huge jump the week before, mortgage refinance demand pulled back sharply last week, likely because borrowers were less worried about rising rates.
Anyone out shopping for an entry-level home knows the prices are high and the pickings are slim. Now, the same is holding true for rentals. As more Americans find it harder to afford a home, rental demand is soaring, especially for single-family homes.
The nation’s single-family homebuilders are feeling very positive about their business, but a monthly sentiment indicator fell in November from a recent high.
Mortgage rates are turning higher again, and that was likely behind a major surge in mortgage application volume last week.
Warehouse tenants soaked up about 41 million square feet of space in the third quarter of this year, a 23% drop from the previous quarter and less than half as much as a year ago, according to a new report from Transwestern.
Just 21% of Americans say now is a good time to buy a home, a drop from 28% in September, according to a monthly sentiment survey by Fannie Mae.
HomeLight launched in 2012 as a real estate matchmaker, using proprietary algorithms to connect buyers and sellers with the best possible agents to meet their needs.
Mortgage rates moved to their highest level in nearly three months last week, giving homeowners little incentive to refinance their home loans.
The median price of a newly built home dropped sharply in September to $299,4400. That was 8.8% lower compared with September 2018, according to the U.S. Census and was the lowest read since February 2016.
September sales of existing homes fell short of expectations, following two months of gains. The problem is low supply combined with high prices; prices jumped nearly 6% annually, according to the National Association of Realtors, the biggest gain since January 2018.
Second homes, formally called auxiliary dwelling units (ADU’s), are cropping up in back and side yards across America, acting as either rental units or additional space for aging parents and still-nested adult children.