Affordability

Reaching their lowest point of the year, new listings dropped 21.4% from October, while home sellers also saw median sales price slip, though numbers remain nearly 4% higher than November 2021.

Fannie Mae’s Economic & Strategic Research Group now forecasts recessionary conditions taking a hold of the market during Q1 2023, even after forecasting better fourth-quarter numbers due to strong GDP and personal consumption figures.

Though high mortgage rates and economic inflation are discouraging many Americans from moving, among the people who are still buying homes, one in four are searching outside of their hometown in relatively affordable areas and hotspots like Las Vegas and Florida.

“Slowing inflation and the hope of the Fed easing rate hikes in the new year are likely to bring mortgage rates down further and thereby improve homebuying demand,” said Redfin Deputy Chief Economist Taylor Marr.

Zillow reports that monthly mortgage payments retreated in November, but numbers are still up more than 60% over the past year.

A panel of experts assembled by MReport provides their expert insights and perspectives into what 2023 may bring to the housing market, and whether a market correction is on the horizon.

With the dip in mortgage rates now surpassing a month, a slight uptick in mortgage apps has led to a recent stabilization in purchase demand.

The title insurance industry generated $5.4 billion in title insurance premiums over the last year. Click through to see how those figures compare to those of years past.

A new study from RentCafe breaks down that information and examines where the nation’s most competitive rental markets can be found.

The latest analysis from LendingTree revealed that homes in snow-heavy states cost nearly $57,000 more than those that see fewer winter flurries, but many homebuyers are willing to pay.