Apr 19, 2024 | News
Getty Images It’s official: Mortgage rates are back up above 7%. Even worse, rates could rise further after U.S. Federal Reserve Chair Jerome Powell said policymakers were in no rush to cut rates while inflation remains stronger than anticipated. Mortgage rates...
Apr 19, 2024 | News
Luxury home prices in the first quarter rose 9% year over year, twice as fast as non-luxury prices. Sales of luxury homes rose 2%, compared to a 4% decline in sales for non-luxury homes. Luxury sales are outperforming partly because elevated mortgage rates aren’t a...
Apr 19, 2024 | News
Getty/Bloomberg Home sales slipped in March as mortgage rates rose. Total existing-home sales dropped 4.3% from February, to a seasonally adjusted annual rate of 4.19 million in March, the National Association of Realtors® reported on Thursday. The March sales figure...
Apr 19, 2024 | News
ANDREW CABALLERO-REYNOLDS/AFP via Getty Images Mortgage rates did not simply rise this week—they soared past 7% for the first time since December 2023, putting a massive hurdle in front of homebuyers hoping to find an affordable home this spring. The average rate for...
Apr 19, 2024 | News
Atlanta-based PulteGroup Inc., one of the largest homebuilders in the U.S., has filed an objection in the Sitzer/Burnett commission lawsuit following settlements with Anywhere, RE/MAX and Keller Williams. PulteGroup says that the company does not have enough...
Apr 19, 2024 | News
Existing home sales fell in today’s report, which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. From NAR: The median existing home price for all...
Apr 19, 2024 | News
Getty Images Sellers of high-end homes are increasingly resorting to price cuts to lure buyers to their lavish properties, which most folks can only dream of owning. About 10.7% of homes on the market priced between $2 million and $5 million underwent price reductions...
Apr 18, 2024 | News
March recorded largest decline in 4 years as builders grapple with inflation In March 2024, housing starts declined by 14.7% to a seasonally adjusted annual rate of 1.32 million units, influenced by higher-than-anticipated interest rates and persistent inflation, as...
Apr 18, 2024 | News
Expect 2024 to be mildly better than 2023 with mortgage rates falling in the second half of the year, housing experts opined in their forecasts at the end of the year. Cuts to the Federal funds rate (and subsequently to mortgage rates) are imminent, traders enthused...
Apr 18, 2024 | News
Existing home sales slumped last month under the weight of elevated mortgage rates. Existing home sales receded by 4.3% in March to a seasonally adjusted annual rate of 4.19 million, down from 4.38 million in February, according to a report released Thursday by the...
