Housing Market
All Reports
July 29, 2024
Donald Trump has said he wants to lower mortgage rates and loosen building regulations, which would make homes more affordable and increase supply. Several of his other stances would also impact housing affordability; for instance, his policies could slow immigration–which would slow homebuilding–and increase tariffs, which would result in higher rates. Housing affordability–or lack thereof–is […]
July 25, 2024
Luxury home prices rose 8.8% year over year in the second quarter, more than twice as fast as non-luxury homes. Luxury home sales grew 0.2%, while sales of non-luxury homes fell 3.4% to the lowest level in a decade. Luxury homes sat on the market longer than a year ago, as inventory rose to the […]
July 25, 2024
Monthly housing payments are falling as mortgage rates decline, but many house hunters remain on the sidelines, with pending sales posting their biggest drop in nearly nine months. That’s because sale prices are still near record highs; additionally, some would-be buyers are wary of political and economic instability. The typical U.S. homebuyer’s monthly housing payment […]
July 24, 2024
That’s up from 60% a year ago. More home listings are growing stale because high housing costs are dampening demand, while the supply of homes for sale is growing. Nearly two-thirds (64.7%) of homes that were on the market in June had been listed for at least 30 days without going under contract. That’s up […]
July 23, 2024
About 56,000 home purchases were canceled, equal to 15% of homes that went under contract—the highest percentage of any June on record. Buyers are skittish due to elevated mortgage rates and record-high home prices. 20% of homes for sale last month had a price cut—the highest June share on record. Many sellers are dropping prices […]
