Conditions are better for buyers when there are more homes for sale. That's why it's good news that active listings are finally moving higher after years of being historically low. According to one recent analysis, the number of active listings available on a typical day in August was 26.6 percent higher than it was at the same time last year. That's a little less than the previous month when active listings were 30.7 percent higher year-over-year. Still, the fact that listings continue to grow at a near-record … [Read more...]

The housing market has slowed down this year. Mortgage rates increased from record lows, buyer demand calmed, and home price increases have begun to moderate. But while market conditions have definitely shifted, it's still a good time to be a homeowner. In fact, according to one recent analysis, homeowners continued to gain near-record equity during the second quarter of this year. The numbers – from CoreLogic's Homeowner Equity Insights report – show average homeowner equity increased $60,000 from last year at the … [Read more...]

You can tell a lot about home buyers by what – and where – home builders are building homes. Their business depends on giving buyers what they want. So the homes they're building are a good reflection of what's popular with today's buyers. For that reason, the National Association of Home Builders recently looked at the past two and a half years of home building activity. Their Home Building Geography Index offers insight into where buyers want to live. What it found was a shift away from large, metro areas toward … [Read more...]

Each month, Fannie Mae asks Americans how they feel about the housing market, mortgage rates, prices, and whether it's a good time to buy or sell a home. Their monthly survey is a good gauge of what's happening in today's market and what's ahead for buyers and sellers. In August, survey results were mixed. For example, the number of respondents who said it's a good time to buy a house improved from July, rising 8 percent month-over-month. But while buying sentiment improved, it was balanced by a decline in the … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates increased last week from the week before. Rates were up for 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. The increases brought rates to their highest level since mid-June. But despite higher rates, Mike Fratantoni, MBA's senior vice president and chief economist, says he expects buyer activity to rebound. “Recent … [Read more...]

Home sales are a good way to measure how many buyers are active in the housing market. But home sales only count the buyers who've found a home and closed the sale. They don't measure the buyers who are looking but haven't yet found a home to purchase. That's why a recent analysis of how many scheduled showings the typical listing receives is an interesting look at where the housing market is right now. Showings can provide an even more accurate snapshot of how much buyer interest exists since they also cover the … [Read more...]

When homes are selling quickly, home buyers need to be prepared. If they aren't, they risk losing a home they're interested in to a better prepared buyer who got to it first. That was a common occurrence during the frenzied days of last year's housing market. A good home for sale could be off the market in a matter of days, which meant buyers needed to be ready to act fast. Fortunately, the market has calmed down since then. In fact, according to one new analysis, the number of days homes typically spend on the … [Read more...]

Home prices shot upward over the past two years. Driven by a historically low number of homes for sale and growing demand from buyers, prices surged. This year, though, the housing market has slowed. So, naturally, the price spikes have too. Right? Well there's good and bad news for prospective home buyers. First off, the price surge is likely over. Higher mortgage rates have calmed demand from buyers and allowed the number of homes for sale to increase. That's helped slow prices, which have already begun to show … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications survey, average mortgage rates increased again last week, with rates climbing for 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. It was the second consecutive week rates moved higher. The increases played a role in slowing demand for home purchase loans. In fact, demand for loans to buy homes was down 2 percent from the week before. Joel Kan, MBA's … [Read more...]