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Real Estate Prices

All articles tagged with #real estate prices

real-estate1 year ago•4 min saved

Home Sellers Slash Prices Amid Soaring Unaffordability

The US housing market is seeing an increase in listings, but high mortgage rates and steep prices are deterring buyers, leading to a stagnation in sales. Sellers are cutting asking prices as inventory grows stale, and the market is experiencing a significant pullback, particularly in previously booming areas like the Sun Belt. The situation is creating a buyer's market with many price reductions, though any broad price deceleration is expected to be slow due to pent-up demand from Millennials.

via Yahoo Finance|

#homebuyers #inventory #mortgage-rates

housing-community-development1 year ago•4 min saved

"Cowboy Ski Town's Housing Crisis: High Earners Struggle to Afford Homes"

Steamboat, a once relatively affordable ski town, is facing a housing crisis as real estate prices have skyrocketed, making homeownership largely out of reach for those making less than $200,000 a year. A proposed housing development, Brown Ranch, has sparked a heated debate among residents, with concerns about its impact on traffic, infrastructure, and the community's character. The city council approved the plan, but opponents collected signatures to get it placed on the ballot. Similar struggles are seen in other destination towns, as demand and prices surged during the pandemic, leaving even high earners priced out of the market.

via NBC News|

#affordable-housing #housing-community-development #housing-crisis

finance-real-estate1 year ago•4 min saved

"Housing Market Struggles as Mortgage Rates Surge Past 7%"

Mortgage rates have risen to 7%, causing a freeze in the housing market as buyers continue to strike due to high prices. The slight increase in rates led to a plunge in mortgage applications, with purchases down by 10% and refinancing down by 11%. The hope for lower rates is further stalling the market, while inflation shows no signs of abating. Homebuilders have managed to maintain sales by cutting prices and buying down mortgage rates, but existing home sales have collapsed, leading to a double top in national median prices.

via WOLF STREET|

#finance-real-estate #homebuyers #housing-market