The much-discussed “correction” of the U.S. housing market is becoming more evident with each passing month. The question is no longer when it will come, but how steep the declines will be in residential markets across the country. The latest quarterly assessment home prices conducted by Moody’s Analytics found that 210 U.S. housing markets could […]
Tight monetary policy to contain inflation in the United States has dampened the red-housing market seen in 2020-2021, when historically low mortgage and home scarcity collided with a surge in buyer demand. With higher mortgage rates now in the area of 5.5%-6% for a 30-year fixed rate mortgage, demand has cooled off significantly in 2022 […]
Watching the appreciation of home prices during the first two years of the COVID-19 pandemic sometimes left the impression that “down” was no longer a direction the U.S. housing market could go. Double-digit increases in median home values were buoyed by low home supply and heavy demand from buyers incentivized by low mortgage rates. But […]
The U.S. housing market slowdown in 2022 may be chipping away at some of the trends that took hold during the first two years of the pandemic. That could be good news for renters in Florida, who have seen the cost of apartments skyrocket due to migrating remote workers who wanted to set up shop […]
While many industries underwent uncertainty and disruption in response to the COVID-19 pandemic, residential real estate became a magnet for people hoping to change their fortunes over the past few years. It’s not hard to understand why working as a real estate agent became so appealing. The housing market took off in 2020, buoyed by […]
It’s tempting to look at the U.S. housing market in 2022 and gasp at the turn of events this year, compared to the frenzy of the previous two. The 30-year-fixed mortgage rate has gone up from about 3% in January to about 5.8% at the end of June, part of broader strategy by the Federal […]
The Federal Reserve last week logged its biggest increase in the nation’s benchmark interest rate since 1994, bumping it 75 basis points to a range of 1.5%-1.75% to combat inflation. A housing market that had been on fire during 2020-2021 now looks significantly different — and more daunting — to prospective home buyers on the […]
The rise in mortgage rates resulting from the Federal Reserve’s effort to slow the economy and inflation by raising interest rates is cooling the housing market, causing the inventory of homes for sale to grow and home prices to drop in many areas. At the same time, however, inventory is still low enough and prices […]
For months, economic signs and pressures have pointed to a cooldown in the U.S. housing market in response to climbing mortgage rates. Two years of the pandemic brought soaring home prices, surging buyer demand and limited housing inventory — a Goldilocks zone for home sellers — but the party looks to be coming to an […]
Florida’s real estate market traditionally has been understood as a mixture of hospitality-oriented properties and second homes used for vacations and rentals. There’s certainly truth to this, but the Sunshine State has increasingly become a primary place of residence for people and businesses. The state’s population increased by 211,000 people from July 2020 to July […]
