The end of the year is prediction season. Experts and insiders in every industry release future forecasts offering their take on what will happen over the next 12 months. The housing market is no exception. The National Association of Realtors’ consumer website, for example, recently released an outlook for 2025 and it looks to be good news for home buyers. The forecast says the housing market will find better balance in the year ahead, with the number of homes for sale reaching its highest level since 2019. More … [Read more...]

According to the Mortgage Bankers Association’s Weekly Application Survey, average mortgage rates moved lower last week from the week before. Rates were down across all loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, 15-year fixed-rate loans, and 5/1 ARMs. Joel Kan, MBA’s vice president and deputy chief economist, says rates have fallen and it’s motivating buyers. “Mortgage rates fell to their lowest level in over a … [Read more...]

Moving to a new home is exciting. Sure, there will be headaches and stress along the way, but starting off fresh in a new place – whether it’s five miles away or 500 miles away – is rejuvenating. That’s undeniable. But it’s also true that some of us are more ready to make a move than others. In fact, according to a recent analysis of last year’s Census data, one state in particular had more movers than any other. So which was it? Well, the data shows 3.3 million Texans moved within Texas last year – which is both … [Read more...]

Once a home seller agrees to a buyer’s offer and the parties sign a contract to buy, that home’s sale is considered pending until it closes weeks later. The National Association of Realtors tracks pending sales because they’re considered a good forward-looking indicator of future home sales numbers. After all, most pending sales lead to final sales. That’s why it’s good news that the latest results of the NAR’s index show pending home sales up 2 percent in October from the month before. Lawrence Yun, NAR’s chief … [Read more...]

The new home market helps keep the overall housing market balanced. When demand is high, builders build more homes. That adds to the supply of available homes and helps keep home prices from spiking – which means, whether you’re considering buying a new house or not, the new home market impacts your home search. So is it bad news that the latest numbers from the U.S. Census Bureau and the Department of Housing and Urban Development show new home sales down 17.3 percent in October? Well, it may not be as bad as it … [Read more...]

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell last week for the first time in two months. Rates were down across all loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. Joel Kan, MBA’s vice president and deputy chief economist, says home buyer activity rose as a result. “Purchase activity drove overall applications higher last week, as … [Read more...]

The S&P Case-Shiller U.S. National Home Price Index is among the leading measures of U.S. home prices. The Index has been collecting data for more than 27 years and covers all nine U.S. census divisions. According to the most recently released results, home prices rose 3.9 percent year-over-year through the end of September. That’s down from the 4.3 percent annual gain seen in the previous month’s report. But while home prices are decelerating nationally, Brian Luke, CFA, Head of commodities, Real & Digital … [Read more...]

It’s been a while since home buyers had the upper hand. In recent years, sellers have held all the power, while home buyers competed against each other to get an offer accepted. Too few homes for sale meant bidding wars, rising home prices, fast sales, and frustrated home shoppers. But this year things started to change. The inventory of homes for sale has been improving, and it’s led to an increasing number of metro areas where buyers are having better luck. In fact, according to one new analysis, home buyers now … [Read more...]

Fannie Mae’s Economic and Strategic Research Group releases an updated outlook each month covering what it believes is ahead for the housing market and economy. In its November commentary, the group says continued economic strength may keep housing market conditions static for longer than previously thought. In other words, the economy didn’t slow as much as expected and it’s keeping mortgage rates from falling further. “Long-run interest rates have moved upward over the past couple months following a string of … [Read more...]