Housing Market

Affordability

Homebuyers Have Been Retreating. Now Sellers Are Too.

There are an estimated 1.43 million homebuyers in the U.S. housing market—the lowest level in records dating back to 2013 aside from the start of the pandemic. That’s making sellers skittish; the number of sellers has dipped by roughly 14,000 since May, falling for the first time in two years. Still, there are 36% more […]

Mortgage Rates are Falling. Here’s What Homebuyers and Sellers Should Do About it.

A late-summer window of opportunity with relatively low mortgage rates is upon us, but it may be short-lived.  Late August is typically a slow time for housing activity, with people on vacation and preparing kids to return to school. With mortgage rates now falling on news coming out of a Fed meeting in Jackson Hole, […]
Affordability

Home Purchases Are Getting Canceled at a Record Rate

15% of home purchases fell through last month—the highest July rate on record—as high homebuying costs made buyers skittish. Cancellations were most common in Texas and Florida. Roughly 58,000 U.S. home-purchase agreements were canceled in July, equal to 15.3% of homes that went under contract last month. That’s up from 14.5% a year earlier and […]
Weekly Market Update

Mortgage Rates Drop to 10-Month Low, Pushing Down Monthly Housing Payments

Monthly payments are falling primarily because mortgage rates have dipped to a 10-month low. But home sales are still lackluster, declining slightly from a year ago.  The typical homebuyer’s monthly mortgage payment is $2,614, the lowest level since January and down $224 from May’s all-time high.  Housing payments are falling mainly because mortgage rates are […]
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