Four different housing market updates—from Fannie Mae, Redfin, NAR and Zillow—highlight home price changes and challenges for entry-level home shoppers. At first glance, opposing headlines could be confusing for consumers.
A new survey by Realtor.com and HarrisX shows 82% of seller-buyers are feeling the lock-in effect of their lower mortgage rates, especially when considering the impact of today’s higher rates on their monthly mortgage payment.
A TD Bank survey finds first-time homebuyers are optimistic about becoming homeowners, saying it’s a good time to buy—despite volatile mortgage rates and low inventory. Rising rents are driving more renters toward homeownership.
A new Redfin report shows demand for vacation homes is down more than 50% from pre-pandemic levels as mortgage rates, new loan fees, and a cooling rental market deter second-home buyers.
With Zillow’s newest filter—now available on the Zillow app and coming soon to Zillow.com—buyers looking for homes can search based on monthly payments, making it easier to identify affordable options.
Byron Lazine, Tom Toole, and Lisa Chinatti discuss mortgage rates, the jobs report, the inventory bottom, home prices on the rise, and an Inman writer’s response to Byron’s and Lisa’s comments on her article, “I’m an agent. You can’t tell me what to wear on the job.”
According to the National Association of REALTORS® (NAR), existing home sales increased 14.5% month over month in February but fell 22.6% year over year. Meanwhile, inventory remains low and higher mortgage rates are keeping sellers on the sidelines.
A new Redfin report for February 2023 shows the first annual drop in home prices since 2012, with sales in San Jose and Austin falling 12 times faster than the national average.
Byron Lazine and Tom Toole discuss declining mortgage rates after the bank collapse, the increase in housing starts, the best way to fight inflation, and accidental landlords.
With the SVB collapse taking place a week ago, mortgage rates dropped from a four-month high of 7% to around 6.5% for 30-year fixed rates. With lower rates, mortgage demand increased 6.5% week-over-week.
Lisa Chinatti and Tom Toole discuss the Senate hearing with Jerome Powell, climbing mortgage rates, the 6.5 million housing unit shortage, conflicting data for unemployment, and the challenges facing buyers and sellers in the current market.
Byron Lazine, Tom Toole, and special guest Lisa Chinatti discuss the return of 7% mortgage rates, persistently low inventory, and the mortgage rates forecast. They also weigh in on whether the Fed screwed up and made things worse.
For daily real estate news, business and marketing.
