Markets & Economy

Real estate market recap, Sept. 28-Oct. 2

The big news in real estate markets, recapped for your convenience

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Check Inman every day for the daily version of this market roundup. Weekly mortgage rates: Powered by Powered by Thursday, Oct. 1: RealtyTrac's "Why Homes Are More Affordable With Home Prices Higher" report: Home prices in the first quarter of the year hit their most affordable level in two years. The average interest rate on a 30-year fixed rate mortgage dropped 57 basis points, or 13 percent from the first quarter of 2014 to the first quarter of 2015. The drop in interest rates -- along with wage growth outpacing home price appreciation in 32 percent of counties -- meant buying a home in the first quarter required a smaller share of the average wage compared to a year ago. U.S. Census Bureau's August 2015 construction report: Construction spending during August was estimated at a seasonally adjusted annual rate of $1.09 trillion. This is a 13.7 percent increase over August 2014's estimate of $95...