December 26, 2024 Mortgage rates increased for the second straight week, rebounding after a decline from earlier this month. While a slight improvement in new and existing home sales is encouraging, the market remains plagued by an overwhelming undersupply of … Continue reading →

For Week Ending December 14, 2024 For the first time in 10 years, the U.S. real median gross cost of renting—rent, plus the average monthly cost of utilities and fuel, adjusted for inflation—grew faster than median home values on an … Continue reading →

December 19, 2024 This week, mortgage rates crept up to a similar average as this time in 2023. For the most part, mortgage rates have moved between 6 and 7 percent over the last 12 months. Homebuyers are slowly digesting … Continue reading →

Sellers slower, buyers busier, inventory increasing Signed purchase agreements statewide were up 8.5%, and new listings were down 0.9% The statewide median sales price increased 4.4% to $340,000 Market times across the state rose 12.5% to 45 days, and inventory … Continue reading →

For Week Ending December 7, 2024 The Federal Housing Finance Agency recently announced the conforming loan limits for one-unit properties with mortgages acquired by Fannie Mar and Freddie Mac will be $806,500 in 2025, an increase of $39,950 (5.2%) from … Continue reading →

December 12, 2024 The 30-year fixed-rate mortgage decreased for the third consecutive week. The combination of mortgage rate declines, firm consumer income growth and a bullish stock market have increased homebuyer demand in recent weeks. While the outlook for the … Continue reading →

For Week Ending November 30, 2024 The majority of new single-family housing starts in 2023 were built on slab foundations, according to the National Association of Home Builders’ analysis of the Survey of Construction (SOC), with 72.4% of new homes … Continue reading →

December 5, 2024 This week, mortgage rates decreased to their lowest level in over a month. Despite just a modest drop in rates, consumers clearly have responded as purchase demand has noticeably improved. The responsiveness of prospective homebuyers to even … Continue reading →

For Week Ending November 23, 2024 U.S. homeowners with a mortgage have seen their equity increase by a total of $1.3 trillion since the second quarter of 2023, an 8% increase year-over-year, according to CoreLogic’s Q2 2024 Homeowner Equity Insights … Continue reading →

November 27, 2024 The 30-year fixed-rate mortgage moved down this week, but not by much. Rates have been relatively flat over the last few weeks as the market waits for more clarity on specific economic policies. Potential homebuyers are also … Continue reading →

For Week Ending November 16, 2024 The number of homes available for sale hit its highest level since December 2019, rising 29.2% year-over-year in October, the 12th consecutive month of growth, according to Realtor.com. Homes spent an average of 58 … Continue reading →

November 21, 2024 Mortgage rates ticked back up this week, continuing to approach 7 percent. Heading into the holidays, purchase demand remains in the doldrums. While for-sale inventory is increasing modestly, the elevated interest rate environment has caused new construction … Continue reading →

For Week Ending November 9, 2024 U.S. pending home sales increased 7.4% month-over-month and 2.6% year-over-year, as falling mortgage rates in August and September helped under contract sales rise to their highest level since March, according to the National Association … Continue reading →

SIZABLE GAINS IN LISTINGS AND SALES DESPITE RATE ENVIRONMENT Signed purchase agreements were up 10.4% statewide, and new listings were up 9.1% The median sales price increased 5.3% to $347,500 Market times rose 10.5% to 42 days, and inventory was … Continue reading →