Rising mortgage rates and the Fed’s actions to combat inflation are likely to further stretch homebuyer budgets and encourage more homeowners to stay put.
Surging borrowing costs and home prices prompted real estate investors to pump the brakes in the first quarter. Many are hoping prices will drop so they can get better deals. Still, investors bought a record 20% of homes sold in metros tracked by Redfin as a slowdown in homebuying nationwide allowed them to continue growing […]
Slowing budget growth indicates that home-price growth will slow in the coming months, too. Homebuyer budgets are essentially flat from last year, up just 0.3% year over year nationwide in the three months ending April 30, the slowest growth rate since June 2020. That’s according to an analysis of the average maximum price set by […]
The luxury-housing market, which experienced a meteoric surge last year, is coming back down to earth amid a slumping stock market, rising mortgage rates and economic uncertainty. Sales of luxury U.S. homes fell 17.8% year over year during the three months ending April 30, the largest drop since the onset of the coronavirus pandemic sent […]
Inventory climbs as buyers back off. More sellers are dropping their price in response. The share of listings with a price reduction is approaching a record high.