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The Latest Breaking News from Lawrence Yun

US Existing Home Sales Slip In April On Still High Mortgage Rates

Existing home sales in the United States crept lower in April as mortgage rates remained elevated, industry data showed Wednesday.

International Business Times

February Sees 4.38 Million Units Sold In Existing Home Market Amid Rising Rates

Existing home sales in the US soared by 9.5% in February to a staggering 4.38 million units, marking the largest monthly increase since February 2023.

International Business Times

US Home Sales Rise In February By Most In A Year

Sales of existing homes made the biggest jump in a year last month on improved housing supply, according to industry data released Thursday, as mortgage rates held at slightly lower levels.

International Business Times

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US Home Sales Tick Up In January On Lower Mortgage Rates

Existing home sales in the United States crept up in January, according to industry data released Thursday, on slightly higher listings and demand as buyers made the most of cooler mortgage rates.

International Business Times

US Existing Home Sales Fall To Lowest Level Since 1995

US existing home sales fell in the final month of 2023, ending a tough year for real estate as full-year sales hit the lowest level since 1995, said industry data released Friday.

International Business Times

The brutal 2023 housing market was just like the 1980s—except with a little bit of Global Financial Crisis thrown in

Millennials face a housing market a lot like their parents experienced—with a dash of their early adulthood added, for good measure.

Fortune

Fitch Ratings says U.S. homes are ‘overvalued’ by nearly 10%—but homebuyers shouldn’t expect relief anytime soon

"Home prices keep marching higher," NAR’s chief economist Lawrence Yun said in a statement, arguing that "only a dramatic rise in supply will dampen price appreciation."

Fortune

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US Home Sales Edge Up In November But Still Gloomy

Sales of US existing homes crept up in November, according to industry data released Wednesday, though they remained at a low level as high mortgage rates weigh on activity.

International Business Times

Pending Home Sales Fall To Record Low In October

The housing market is suffering from mortgage rates near the highest level in two decades.

International Business Times

Stocks are soaring as Wall Street celebrates a cooler-than-expected inflation report that could signal the end of the Fed's rate hikes: ‘The immaculate disinflation continues’

“The Fed is increasingly likely to be in a position to cut rates in the second quarter of 2024,” Lazard's chief market strategist says.

Fortune

US Existing Home Sales Decline In August Amid Rising Prices

Midwest Sees Improvement, South and West Sales Decline, Inventory Levels Drop

Zenger

Best Time of Year to Buy A House

You may find a good home deal at any time of year, but certain seasons or even months have the perfect blend of inventory, supply and price. Here's when to look.

Kiplinger

Home sales slumped in July as rising mortgage rates and prices discouraged many would-be homebuyers

Sales of previously occupied U.S. homes fell last month to the slowest pace since January, as elevated mortgage rates and a stubbornly low inventory of homes on the market combined to discourage many would-be homebuyers

The Independent UK

Mortgage rates just hit their highest since 2002

The average cost of a 30-year fixed-rate mortgage jumped to 7.09% this week, the highest in over two decades. Rising interest rates have put homes out of reach for many would-be buyers.

WEKU

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WEKU

Inflation may be cooling, but the housing market is still too hot for many buyers

The median home price has risen to $413,800 – the second-highest price ever — thanks to a shortage of homes on the market and high mortgage rates. Experts say renting may be a better option.

The Independent UK

Home sales fell in June to the slowest pace since January, limited by near-historic low inventory

Sales of previously occupied U.S. homes fell in June to the slowest pace since January, as a near-historic low number of homes for sale and rising mortgage rates kept many would-be homebuyers on the sidelines

Tribune News Service

Bankrate: Existing-home sales, prices decline again

The housing market remained soft in April, a new report by the National Association of Realtors (NAR) shows. Sales of existing homes — previously occupied properties, rather than newly built homes — resumed their long downward slide. The number of sales in April was off 3.4% from last month and…

Axios

America's surprise revival: The suburbs

Demographic, housing and business trends are coming together to cause a suburban boom.

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The Independent UK

US home sales fell again in January; prices edged higher

The nation’s housing slump deepened in January as home sales fell for the 12th month in a row to the slowest pace in more than a dozen years

Tribune News Service

Existing home sales fall again in December

Existing-home sales — meaning sales of previously occupied homes, rather than newly built homes — have been on a downward trend all year. And with both mortgage rates and prices remaining fairly high, home shoppers have pulled back. A new report by the National Association of Realtors (NAR) indicates that…

WEKU

2022 marked the end of cheap mortgages and now the housing market has turned icy cold

The buying frenzy of a year ago is long gone. Home buyers have pulled away, sellers are holding back, and the whole housing market is locked in a deep freeze.

Fortune

What the Fed’s December rate hike means for homebuyers and sellers

The December rate hike was the seventh bump in 2022, a year that saw mortgage rates swing wildly from 3.4% in January all the way to 7.12% in October before inching back down again.

Tribune News Service

Top 10 real estate markets in the US are all in the South

Real estate in Atlanta, Raleigh, North Carolina and Dallas-Fort Worth is expected to outperform most other metro areas in 2023, according to the National Association of Realtors.

Tribune News Service

You need to make $87,000 a year to buy a typical house in Dallas-Fort Worth

Rapidly rising mortgage rates have taken a hammer to home affordability across the U.S., even as some areas like Dallas-Fort Worth continue to see double-digit price gains.

Tribune News Service

Housing market predictions: the forecast for the next 5 years

It’s been a wild real estate ride over the last few years. After a red-hot market characterized by bidding wars, low interest rates and elevated prices, mortgage rates increased to the highest level in 20 years, leading to a slowdown of both buying activity and purchase prices. Yet, with inventory…

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