In the second quarter, investor purchases of U.S. homes fell to their lowest springtime level since 2020. The decline was especially big for condos. But investor market share held steady from a year earlier, signaling that declining investor activity reflects the overall housing-market slowdown. U.S. real estate investors purchased roughly 52,000 homes in the second […]
The weekly average mortgage rate has ticked down to its lowest level in over 10 months. But home-sale prices are still rising, and pending home sales are up just 1.6% from a year ago. The weekly average mortgage rate has ticked down to 6.56%, the lowest level in nearly a year. Declining mortgage rates have […]
The number of homeowner households fell 0.1% year over year in the second quarter—a small decline, but the first since 2016. Meanwhile, the number of renter households rose 2.6%—one of the biggest increases in recent years. The number of homeowner households in America fell 0.1% year over year to an estimated 86.2 million in the […]
Home sales are falling a bit faster in seasonal towns than non-seasonal towns, partly because second-home buyers are backing off amid economic uncertainty and tight short-term rental regulations. That’s causing sale prices in vacation destinations to flatten. The number of homes sold in seasonal towns, those where vacation demand drives the housing market, fell 3% […]
San Francisco is the only major U.S. metro area where housing costs have returned to “normal”—and Bay Area neighbors Oakland and San Jose are not far off. Redfin today published a report projecting hypothetical scenarios where U.S. housing costs will return to “normal” within the next ten years, using the mortgage payment-to-income ratio as the […]
This year, the U.S. housing market has been described as “a nightmare,” “very unusual” and “alarming,” along with expletives we can’t write here. And with good reason: home prices are near record highs, mortgage rates remain elevated, and not enough homes are being built to meet demand in many areas of the country. But recent […]