Many would-be buyers are still spooked by rising sale prices and economic instability, but some are creeping off the sidelines. The median U.S. monthly housing payment was $2,530 during the four weeks ending October 26, down 1.4% year over year. That’s the biggest decline since November 2024. Monthly payments fell mainly because mortgage rates declined […]
That’s still well above pre-pandemic levels. The pool of existing inventory is rising as more homeowners list and homes linger on the market. At the same time, some builders are refraining from starting new projects as they try to offload inventory. House hunters who are interested in new construction may want to act now, while […]
Pending home sales jumped 17% year over year in San Francisco last month—more than any other major metro. The typical home also sold in roughly 20 days—over twice as fast as the typical U.S. home. The housing market in the San Francisco Bay Area is picking up steam thanks to rising incomes, an AI boom […]
A homebuyer on a $3,000 budget has gained $26,000 since last year as mortgage rates drop to the low-6% range. But pending home sales are still slipping. The daily average mortgage rate dropped to 6.17% this week, near the lowest level in three years. Lower mortgage rates are curbing growth in monthly mortgage payments; the […]
Nationwide, there are an estimated 37% more sellers than buyers—a near-record gap that’s giving buyers across the country negotiating power. There are seven metros where sellers outnumber buyers by at least 2-to-1, and all but one are in Texas or Florida. There are five remaining seller’s markets, the strongest of which is Newark, NJ. Sale […]
Housing costs are frightful and economic jitters are in the air, leading some buyers to leave sellers in the lurch. Just over 53,000 home-purchase agreements nationwide were canceled in September, equal to 15% of homes that went under contract that month. That’s up from 13.6% a year earlier. This is based on a Redfin […]