For Week Ending October 7, 2023 Adjustable-rate mortgages (ARM) continue to grow in popularity as prospective homebuyers aim to combat rising housing costs. Applications for 5/1 adjustable-rate mortgages rose 32.5% the week ending October 6 from four weeks earlier, according … Continue reading
Prices still strong, sales and listings still slow given stubbornly high rates
The median sales price increased 2.2% to $370,305 Signed purchase agreements fell 7.3%; new listings down 6.4% Sellers still getting strong offers at 99.3% of list price in an average of 34 days (October 16, 2023) – According to new … Continue reading
Mortgage Rates Continue to Climb
October 12, 2023 For the fifth consecutive week, mortgage rates rose as ongoing market and geopolitical uncertainty continues to increase. The good news is that the economy and incomes continue to grow at a solid pace, but the housing market … Continue reading
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending September 30, 2023 Nationally, pending home sales decreased 7.1% month-over-month as of last measure, falling to the lowest level since April 2020, according to the National Association of REALTORS®, as rising borrowing costs and a scarcity of … Continue reading
Mortgage Rates Continue to Surge
October 5, 2023 Mortgage rates maintained their upward trajectory as the 10-year Treasury yield, a key benchmark, climbed. Several factors, including shifts in inflation, the job market and uncertainty around the Federal Reserve’s next move, are contributing to the highest … Continue reading
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending September 23, 2023 New-home construction recently fell to a 3-year low, as higher mortgage rates take their toll on homebuilders, impacting affordability and causing production to slow. According to the U.S. Census Bureau, housing starts dropped 11.3% … Continue reading
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