Real Estate

Overall mortgage application volume fell 5.7% week-over-week, with homebuyers again retreating to the sidelines as a spike in mortgage rates hampered affordability.

“The cooling in home prices that began in June 2022 continued through year end, as December marked the sixth consecutive month of declines for our National Composite Index,” says Craig J. Lazzara, Managing Director at S&P DJI.

According to a new report from Bankrate, the Austin job market is booming, attracting many homebuyers and ranking first on the list of best and worst places for first-time homebuyers.

“Buyers responded to better affordability from falling mortgage rates in December and January,” said NAR Chief Economist Lawrence Yun.

A record 25% of Redfin.com home searchers looked to move to a different U.S. metro in January, many in search of more affordable housing, as Miami, Sacramento, and Las Vegas were the most popular destinations.

According to a new Zillow report, Black Americans' housing wealth has made strides, as the gap between the value of the typical Black-owned home and the typical U.S. home is the smallest it's been in the past two decades.

As January 2023 marked the sixth month in a row with a single-digit rate rent increase, a new report from Realtor.com reveals less expensive metros are experiencing faster rent growth nationwide.

“A lot of sellers who don’t get the price they had hoped for are taking their homes off the market. Many of them have a rock-bottom mortgage rate and figure they can wait to sell,” said Shay Stein, a Redfin real estate agent in the Las Vegas area.

According to a new Apartment List report, the Black homeownership rate currently stands at 44% nationwide, as white homeownership continues to exceed Black homeownership in each metro analyzed.

A recent NAHB member poll found that building materials remain a big challenge for home builders, but new issues are coming to the forefront.