There are more home buyers looking for an affordable home than there are affordable homes to buy. That's been true for awhile now. It's part of the reason home prices keep rising. But while inventory is still down significantly from last year, the number of new listings has begun to improve. And, according to new numbers from the National Association of Realtors' consumer website, the number of available smaller homes is now climbing faster than other categories. In fact, the share of homes between 750 and 1,750 … [Read more...]

Fannie Mae's Home Purchase Sentiment Index is a monthly measure of how Americans feel about the housing market, economy, and their own personal financial situation. The survey asks participants whether they feel now is a good time to buy or sell a home, whether they think mortgage rates and prices will go up or down over the next year, and how they feel about their job and income. In July, the index saw a slight decline. Among respondents, fewer said they thought it was a good time to buy a home, while the number … [Read more...]

Homes sell quickly these days. Anyone who's shopped for a house recently knows this. A quality house listed on a Thursday will sometimes not even last through the weekend. That's good for home sellers but can be stressful for buyers. Which is why new numbers tracking home sales over the four-week period ending August 1 offer encouragement. The data shows that 49.7 percent of homes had an accepted offer within two weeks of being listed. And while that's fast – and nearly 6 percent higher than the same time last year … [Read more...]

When the pandemic began in early 2020, there were fears that it would hurt the housing market and home values. However, those fears were quickly set aside as home buyers returned and prices rose. In short, the housing market survived relatively unscathed as the coronavirus caused volatility and uncertainty nearly everywhere else. Now, more than a year later, a new report shows that it continues to thrive. In fact, according to ATTOM Data Solutions' U.S. Home Equity & Underwater Report, the number of equity-rich … [Read more...]

Buying a house is not something we do very often. Studies show the average American only buys a home three times in their entire life. So it'd make sense that the share of Americans planning to buy at any given time would stay fairly consistent and relatively low. But new numbers from the National Association of Home Builders show buyer demand is actually rising, and quickly. The data – from the NAHB's most recent Housing Trends Report – found the share of Americans planning to buy in the next 12 months is higher … [Read more...]

If you're a homeowner who is thinking about making a move, ATTOM Data Solution's most recent U.S. Home Sales Report has good news for you. That's because the report – which looks at how much profit the typical home sale generated during the second quarter of this year – found that home sellers are seeing bigger profits than they did at the beginning of the year – and significantly more than at the same time last year. In fact, during the second quarter, the typical home sale generated a profit of $94,500. That's up … [Read more...]

The number of contracts to buy homes signed in June fell 1.9 percent from the month before, according to new numbers from the National Association of Realtors. In May, they were up 8 percent month-over-month. The dramatic swing continues an up-and-down trend pending sales have followed since the start of the year. Lawrence Yun, NAR's chief economist, says the volatility is due, in part, to rising home prices. “Buyers are still interested and want to own a home, but record-high home prices are causing some to … [Read more...]

The housing market's breakneck pace this spring may've caused, at least, some prospective home buyers to hesitate. Competition, bidding wars, and double-digit price increases will do that. After all, choosing a house to buy is already a big decision without the added pressure of a hot market. But if you're a buyer who's been waiting for the market to cool off, Fannie Mae's Economic and Strategic Research Group may have some encouraging news. The group – which releases a monthly outlook for the housing market and … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates fell last week from one week earlier. 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 associate vice president of economic and industry forecasting, says the drop brought rates to their lowest level in months, and in some cases decades. “The 10-year … [Read more...]

Home prices are rising. That's no surprise to anyone who's been looking to buy or sell a home. In this market, there are more buyers than homes for sale and the imbalance has been pushing prices higher for months. In fact, according to the S&P Case-Shiller Home Price Indices – considered among the leading measures of U.S. home values – price growth broke records again in May. In other words, this year's housing market has been hot. But, according to Craig J. Lazzara, managing director and global head of index … [Read more...]