Housing Market
All Reports
March 24, 2023
Homebuying demand persisted as mortgage rates declined for the second week in a row after the Fed announced it will only modestly hike interest rates. But limited supply is another barrier for buyers, who are competing for the few homes on the market. This week’s news that the Fed is modestly hiking interest rates and […]
March 22, 2023
The typical U.S. homebuyer made a $42,000 down payment in January, the lowest level in nearly two years, amid rising mortgage rates and low competition The median down payment was equal to 10% of the purchase price, down from 14% a year earlier. Nearly one-third home purchases were paid for in cash, the highest share […]
March 17, 2023
Prices declined as sellers responded to a drop in homebuyer demand spurred by elevated mortgage rates. San Jose and Austin saw prices fall at roughly 12 times the national pace. While many buyers remained on the sidelines, home sales and competition leveled off following roughly a year of declines. Miami still saw sales fall 44%. […]
March 16, 2023
Whether more buyers return to the market depends largely on how the Fed reacts to unrest in the banking industry alongside persistent inflation. If the Fed presses pause on interest-rate hikes next week or announces just a small increase, mortgage rates will drop. Some homebuyers are returning to the market as mortgage rates decline from […]
March 15, 2023
Sellers are offering to cover the cost of repairs, mortgage-rate buydowns and closing costs as rising interest rates dampen homebuyer demand. Pandemic boomtowns and pricey coastal markets, including Phoenix and Seattle, have seen the biggest increases in concessions. A record 13% of home sales include a price cut and a final sale price below the […]
