High mortgage rates and high home prices have dragged down sales activity in the U.S. housing market to a pace not seen since the years after the 2008 recession and housing bust. Recent data from real estate brokerage Redfin estimates that sales of existing homes in the U.S. could top out around 4.1 million in […]
The total value of the U.S. housing market has grown by an astonishing 49% since before the COVID-19 pandemic. This has been led by a surge in new home construction alongside already tight home supply and increased competition that has increased the value of the average U.S. home. But not all of this growth in […]
The U.S. Federal Reserve signaled this week that it will pause further increases to the nation’s benchmark interest rate, ending a historic run of hikes intended to curb inflation and prevent a recession. The central bank’s latest approach comes after a review of new economic projections that anticipate stronger growth by year’s end and a […]
For most of this year, the U.S. housing market has been in a holding pattern. High mortgage rates and home prices are putting off many would-be buyers who feel the value proposition is out of balance for them. At the same time, would-be sellers realize that they’ll be facing the same market on the other […]
The state of the U.S. housing market has been dimmed by high mortgage rates and steep home prices, but certain parts of the country are still offering too much value for buyers to resist. Realtor.com released its “Hottest ZIP Codes of 2023” report earlier this week, naming the top 10 cities and towns in the […]
For many aspiring home buyers, 2023 has been a game of wait-and-see. Soaring home prices, high interest rates and extremely tight home supply have made the search for homes both ultra-competitive and financially prohibitive in large parts of the U.S. The theme of the year has been the Federal Reserve’s aggressive activity to bring down […]
The Federal Reserve’s moves to stem inflation over the last year and change have been historic. Eleven rate hikes since March 2022 have raised the benchmark short-term by 5 percentage points, marking the most aggressive action the Fed has taken in 40 years. The central bank’s efforts are primarily focused on beating back the pandemic-related […]
Signs of slowing inflation sent Wall Street to its highest level in more than a year on Wednesday, boosting Asian stocks along with it as U.S. government data showed promising signs for the economy. The S&P 500 reached its strongest closing level since April 2022, with stocks from Big Tech to utilities rising along with […]
The high mortgage rates seen over the last year were supposed to give weary home buyers at least one potential silver lining. If the high monthly costs of home ownership dampened demand for homes, then list prices might fall off to levels that could make more homes affordable. But recent data on the U.S. housing […]
After 10 consecutive meetings in which the U.S. Federal Reserve raised its benchmark interest rate, this week the central bank decided to hit pause on further increases. The Fed pointed to reassuring data on inflation as the reason for the steadying measure, but indicated that two more rate hikes are expected before the end of 2023. It’s a welcome […]
