Record High Home Prices in May Amid Sluggish Sales
Category: Real Estate Total Views: 18By : 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: 14By : 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: 60By : 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
Bank of America Predicts Multiple Rate Cuts by 2026
Category: Real Estate Total Views: 21By : Editor Updated: 06-14-2024
Mortgage Rates Slightly Decline to 6.95%
Freddie Mac reports that the average rate on a 30-year fixed mortgage fell to 6.95% this week, down from 6.99% the previous. It might not be enough to draw in many homebuyers with this little decrease in mortgage rates. Though the drop is welcome, it has little effect on overall affordability. Waiting for a more significant drop, many buyers stay put. Considering past norms, the rates are still rather high now. The monetary policy stance of... Read More
The Impact of Geopolitical Tensions on Global Real Estate
Category: Real Estate Total Views: 155By : Editor Updated: 06-08-2024
Geopolitical Tensions and Real Estate
Tensions in geopolitics have an impact on world markets, including real estate. Economic disruptions brought on by political unrest impact property demand. Investors look for stable areas to reduce risk. Economic sanctions change trade, which affects property prices.
Markets for real estate are shaped by governments. Political choices affect property taxes and zoning regulations. Real estate foreign investments are impacted by intern... Read More