April 18, 2024 The 30-year fixed-rate mortgage surpassed 7 percent for the first time this year, jumping from 6.88 percent to 7.10 percent this week. As rates trend higher, potential homebuyers are deciding whether to buy before rates rise even … Continue reading
March Housing Market Report
Spring market continues budding; buyers seeing more options Signed purchase agreements rose 7.8%; new listings up 4.0% The median sales price increased 2.8% to $366,000 Market times fell 6.9% to 54 days; inventory up 8.4% to 6,879 (Apr. 15, 2024) … Continue reading
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending April 6, 2024 The share of homebuyers who paid cash for their home reached a 10-year high recently, according to the National Association of REALTORS®, with cash buyers accounting for 32% of all home purchases in January. … Continue reading
Mortgage Rates Move Toward Seven Percent as Markets Digest Incoming Data
April 11, 2024 Mortgage rates have been drifting higher for most of the year due to sustained inflation and the reevaluation of the Federal Reserve’s monetary policy path. While newly released inflation data from March continues to show a trend … Continue reading
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending March 30, 2024 U.S. residential housing starts jumped 10.7% from the previous month to a seasonally adjusted annual rate of 1.521 million units, led by a surge in single-family starts, which increased 11.6% to 1.129 million units … Continue reading
Mortgage Rates Continue to Show Little Movement
April 4, 2024 Mortgage rates showed little movement again this week, hovering around 6.8 percent. Since the start of 2024, the 30-year fixed-rate mortgage has not reached seven percent but has not dropped below 6.6 percent either. While incoming economic … Continue reading
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending March 23, 2024 Housing inventory continues to improve nationwide, climbing 14.8% year-over-year according to Realtor.com’s February 2024 Monthly Housing Market Trends Report. New listings increased 11.3% year-over-year, while the total number of unsold homes rose 8.8% compared … Continue reading
Mortgage Rates Drop Slightly
March 28, 2024 Mortgage rates moved slightly lower this week, providing a bit more room in the budgets of some prospective homebuyers. Additionally, encouraging data out on existing home sales reflects improving inventory. Regardless, rates remain elevated near seven percent … Continue reading
February Monthly Skinny Video
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending March 16, 2024 The U.S. homeownership rate declined in the fourth quarter of 2023, sliding 0.3% from the third quarter to 65.7% at year’s end, according to the Census Bureau’s Housing Vacancy Survey, as higher interest rates … Continue reading
Mortgage Rates Increase, Nearing Seven Percent
March 21, 2024 After decreasing for a couple of weeks, mortgage rates are once again on the upswing. As the spring homebuying season gets underway, existing home inventory has increased slightly and new home construction has picked up. Despite elevated … Continue reading
Existing Home Sales
February Housing Market Report
Spring market blossoming early amid signs of turnaround The median sales price increased 4.5% to $357,700 Signed purchase agreements rose 13.1%; new listings up 34.5% Market times fell 3.3% to 59 days; inventory up 13.3% to 6,665 (Mar. 18, 2024) … Continue reading
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending March 9, 2024 Mortgage rates fell for the first time in five weeks, as the average 30-year fixed rate mortgage slid 0.06 percentage points to 6.88% the week ending March 7, 2024, according to Freddie Mac. The … Continue reading
Mortgage Rates Continue to Decrease
March 14, 2024 The 30-year fixed-rate mortgage decreased again this week, with declines totaling almost a quarter of a percent in two weeks’ time. Despite the recent dip, mortgage rates remain high as the market contends with the pressure of … Continue reading
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending March 2, 2024 The limited supply of existing-home inventory nationwide continues to benefit the new-home market, with applications for new home purchases up 38% month-over-month and 19.1% year-over-year in January, according to the Mortgage Bankers Association Builder … Continue reading
Mortgage Rates Dip Down
March 7, 2024 Evidence that purchase demand remains sensitive to interest rate changes was on display this week, as applications rose for the first time in six weeks in response to lower rates. Mortgage rates continue to be one of … Continue reading