Fannie Mae on Friday slashed its 2024 forecast as a result of weak spring home sales, but listings are returning to the market and mortgage rates look poised to drop, according to new projections
Elevated mortgage rates and home prices are creating challenges for many homebuyers, and 86% said May was a bad time to buy — a new high in Fannie Mae surveys dating to 2010
Home values have boomed over the past 5 years, with New York, Boston and Nashville experiencing double-digit gains in the median price per square foot
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Rising home prices and mortgage rates may make it difficult for buyers this season
Contract signings fell 7.7% between March and April to a score of 72.3 on the Pending Home Sales Index last month, according to data released Thursday by the National Association of Realtors
As rates on conventional mortgages head back above 7%, homebuyer demand for purchase loans is wilting, with applications dropping for a 3rd week in a row last week, MBA survey finds
National home prices jumped 6.5% in March from a year earlier to a new record high with the Northeast leading regionally
Homes at the higher end of the market — priced at $1M or more — enjoyed the spoils with inventory and sales rising by double digits from a year ago, according to data released Wednesday by NAR
Households with a median income of $64K or less lost their buying gains in 2023, according to Redfin. The share of new mortgages issued to this group dropped 11% from 2020 to 2023
Fannie Mae's latest National Housing Survey finds 67% of Americans agree April was a good time to sell, the highest level in nearly 2 years. But only 20% said it was a good time to buy
Redfin CEO Glenn Kelman said rising rates and home prices are crushing consumer sentiment. However, rising inventory and a year-end interest rate cut will be key to restoring it
Pending home sales declined 7% year over year in February, according to the NAR. However, a slight uptick in monthly inventory and contract signing trends provide hope for a market rebound
Fannie Mae and MBA economists are now in agreement that mortgage rates will come down only gradually this year and next but that home price appreciation will slow
Existing-home sales retreated 4.3% between February and March to a seasonally adjusted annual rate of 4.19M, according to data released Thursday by the National Association of Realtors
Elevated mortgage rates and home prices have made sellers leery about listing this spring, so 50% of sellers said they'll be aligning their sales with a late-year rate drop, according to Realtor.com