Luxury home values have hit $1.8M, bucking the spring slowdown
A new report from Zillow shows that luxury home values rose 2.7% over the past year, with the typical luxury home now valued at around $1.8M
by Richelle Hammiel Jun 6
Despite market shift toward buyers, they're still backing away
According to Redfin's data, pending home sales dipped 0.4% year over year to the lowest May level since 2020. Part of that was attributed to sky-high costs and economic uncertainty
by Richelle Hammiel Jun 5
Dip in mortgage rates doesn't do much to excite homebuyers
While purchase loan demand was still up 18% last week from a year ago, some of that demand may not translate into sales after unusual bump in cancelled purchase contracts
by Matt Carter Jun 4
Listing recovery hits snag near end of spring: Client Pipeline Tracker
Real estate agents reported an unexpected hit to their listing pipelines in May as they navigated an uncertain market and weak spring, according to the latest Inman Intel Index survey results
by Daniel Houston Jun 2
Inflation improved in April, but Fed not expected to budge on rates
Trump administration keeps up pressure on Fed, but investors don't expect the US central bank to cut short-term rates until September as policymakers weigh tariff impacts
by Matt Carter May 30
Home for sale sign, with sale pending
Even with more inventory entering the market, homebuyers are struggling with elevated mortgage rates, NAR Chief Economist Lawrence Yun said, leading to fewer signed contracts
by Lillian Dickerson May 29
Tariff fears are behind those big swings in consumer confidence
A surge in the Conference Board's Consumer Confidence Index for May made the preliminary numbers from a similar U of M survey look 'far too negative,' one economist told clients Tuesday
by Matt Carter May 27
Existing-home sales slip again in April even as inventory improves
Existing-home sales continued to fall in April, down 0.5% from March to a seasonally adjusted rate of 4M last month, according to data released Thursday by the National Association of Realtors
by Richelle Hammiel May 22
real estate economist
Windermere Economist Jeff Tucker looks at how tariff walkbacks may signal that some of the Trump administration's potentially damaging policy changes could be reversed
by Jeff Tucker May 22
Rising mortgage rates take wind out of spring homebuying sails
Applications for purchase loans fell 5% last week as rates climbed to highest level since February over concerns about inflation and growing government debt
by Matt Carter May 21
Lower rates could bring more home sales: Fannie Mae forecast
While Fannie Mae economists see mortgage rates coming down by a full percentage point, forecasters at the Mortgage Bankers Association have issued a more cautious take
by Matt Carter May 21
Most homebuyers see a recession ahead. Some are even asking for it
Nearly twice as many Realtor.com visitors say they would be more likely to buy if a recession hits compared to the share who say they'd be less likely to buy if the economy fails, new polling shows
by Matt Carter May 20
Mortgage rates surge on Moody's downgrade of US credit rating
Moody's Ratings is last credit agency to strip US of its most favorable debt rating over concerns that Congress and 'successive US administrations' have failed to tackle annual budget deficits
by Matt Carter May 19
The spring sizzle fizzles: Economic jitters chill buyer demand
Despite a flood of new listings, buyers are cooling off from high prices, rising mortgage rates and economic uncertainty, according to new reports from Zillow and Redfin
by Richelle Hammiel May 16
Consumer sentiment is hurting, but economy hasn't faltered
The University of Michigan Index of Consumer Sentiment slipped to 50.8 in May, its second lowest reading ever, as Americans fretted about tariffs, inflation and the job market
by Matt Carter May 16