Market Trends

Apartments are becoming increasingly difficult to find in small, low-profile markets across the U.S, as a new report from RentCafe revealed inflation, rate hikes, elevated home prices, and increased costs of living are pushing many renters to re-think their housing options.

Interest in jumbo and adjustable-rate mortgages is increasing as borrowers look for ways to offset inflationary pressure and higher interest rates.

“Prices falling from a year ago is a milestone because it hasn’t happened since the housing market was recovering from the 2008 subprime mortgage crisis. But it’s not surprising and in many ways, it’s welcome,” said Redfin Deputy Chief Economist Taylor Marr.

With the market still hampered by high mortgage rates and tight supply, MReport asks a panel of experts if the spring/summer 2023 housing market will bring homebuyers back off the sidelines.

The GSE alerted investors about calling off a $542 million credit risk transfer to private investors due to a tumultuous economic environment.

According to a new report from Zillow, the rebalancing of the housing market has been felt the most in areas where affordability is stretched, as the share of U.S. cities where the typical home value is $1 million or more declined from 522 to 464 since last July. 

Median asking rents posted the smallest increase in nearly two years and the lowest level in a year in February, according to a new report from Redfin, rising just 1.7% year-over-year.

Home prices and elevated mortgage rates prompted many to move from big, high-cost coastal metros in 2022.

"With the U.S. housing market cooling off considerably since the middle of last year, some areas of the country continue to show signs of being more at risk of a larger downturn than others,” said Rob Barber, CEO at ATTOM.

Inflated mortgage rates and home prices pushed monthly housing payments to a record high of nearly $2,600, according to a new report from Redfin.