Daily Dose

Rising inventory is now being driven by homes lingering on the market and new listings trailing pre-pandemic levels. Rent appreciation is also slowing, but the growth rate overall remains much higher than pre-pandemic levels.

While more housing inventory is becoming available, home prices and mortgage rates hikes are still limiting many homebuyers from purchasing. A new study reveals that 55% of homeowners reported renovating in the past year rather than continuing their new home search.

“The buyers who are still in the game are finally getting a break from bidding wars, which means they can be picky,” said Raleigh, North Carolina Redfin Agent Pam Lewis.

While a multitude of downpayment assistance options are available to buyers, most are not aware these options exist, as Rob Chrane of Down Payment Resource explains how proper education can bring these programs to the forefront as a viable option to today’s home buyers.

According to a new Redfin report, the national median asking rent for July was up 14% year-over-year (and 0.6% month-over-month) to an average of $2,032 per month. This ...

Despite mortgage rates pulling back over the past month, numbers are down 59 basis points from the recent peak of 5.22% according to the latest Fannie Mae survey, they continue to anticipate a slowdown in home sales activity.

“Women have always taken on the heaviest burden of a socioeconomic system that was designed to profit from their underpaid and undervalued labor,” said Fatima Goss Graves, President and CEO of the National Women’s Law Center.

The MBA reports July purchase mortgage applications for new homes dipped 16.1% year-over-year, as high prices and economic instability continue to force the nation’s home buyers to reconsider their options.

The latest RE/MAX Housing Report for July revealed the median sales price of $415,000 was down 2.9% from June, the lowest reading since April.

More and more buyer home-purchase agreements were cancelled in July to the highest mortgage rates seen in two years. Click through to see how many took advantage of their newfound negotiating power.