High Mortgage Rates Impact U.S. New Home Construction
Category: Real Estate Total Views: 298By : Editor Updated: 06-24-2024
Homebuilding Slows Significantly in May
American homebuilding fell off dramatically in May. Seasonally adjusted annual rate of 1.28 million homes was reported by the Census Bureau. It is less than the 1.38 million economists had projected and down from 1.35 million in April. With this slowdown, new home building is moving at its slowest rate since June 2020. High mortgage rates are a big part of this fall. The weak May performance of the housing market is indicative of more genera... Read More
Trends in Urban Property Investments in Australia
Category: Real Estate Total Views: 516By : Editor Updated: 06-24-2024
Urban property investment in Australia is experiencing significant shifts driven by evolving lifestyle preferences, demographic changes, and urban planning policies. As cities grow and change, so do the opportunities and challenges for property investors. Understanding these trends is crucial for making informed investment decisions. One key question for potential investors is: are apartments a good investment Australia? This a... Read More
Record High Home Prices in May Amid Sluggish Sales
Category: Real Estate Total Views: 69By : Editor Updated: 06-21-2024
Record High Home Prices in May
In May, the median price of a sold existing home was $419,300, a record high for home prices overall. At 5.8% over the previous year, this is the biggest price rise since October 2022. Prices increased throughout all areas, which was indicative of a high demand and a small supply. Purchasers of homes at these high prices have not been discouraged by rising mortgage rates. A still limited housing inventory and rising demand are blamed for the rising p... Read More
Mortgage Demand Flat Despite Lowest Rates Since March
Category: Real Estate Total Views: 132By : Editor Updated: 06-19-2024
Mortgage Demand Remains Flat Despite Rate Drop
Mortgage demand did not change even though interest rates fell to their lowest point since March. Rates dropping didn't seem to have any effect on consumers. The volume of mortgage applications submitted overall increased by a little 0.9% from the week before. Potential borrowers seem to be still apprehensive based on the lack of substantial movement. This hesitation can be influenced by unstable market conditions and economic unc... Read More
Housing Affordability Crisis Deepens: Foreclosure Trends in 2024
Category: Real Estate Total Views: 218By : Editor Updated: 06-14-2024
Rising Foreclosures in 2024
Through 2024, home foreclosures will continue rising. Economic strains were evident in May when more Americans lost their homes. A 3% increase in foreclosure filings over the prior year is shown by the most recent ATTOM data. Still, that's a 7% drop from the same time last year. The statistics point up changes in the real estate market. While foreclosure starts increased, in some places completed foreclosures fell. This points to resilience in speci... Read More