Tag

Spring Selling Season

All articles tagged with #spring selling season

real-estate2 years ago•3 min saved

Mortgage Rates Surge to 7% Range as Fed Signals No Rate Cuts, Applications Plummet.

Mortgage rates have spiked to 7% range, the highest since November, as investors pull out of the housing market and mortgage applications plunge to the third-lowest volume since 1995. The Federal Reserve is unlikely to cut rates anytime soon, and inflation is still running too high. The high mortgage rates have given rise to the theory that investors would swoop in and pick up the pieces left behind by potential buyers staying out of the market, but that's not happening. With the 7% mortgages now hammering the end of spring selling season, home sales going into the summer could turn out to be dismal.

via WOLF STREET|

#home-sales #investors #mortgage-applications

real-estate2 years ago•4 min saved

Mixed Results for U.S. Housing Market in February

Dallas-Fort Worth recorded the smallest annual increase in home prices since 2012 as higher mortgage rates put a pause on deals for many potential buyers. Typical single-family home prices in the region were up just 2% in February from a year before, according to the latest reading of the S&P CoreLogic Case-Shiller Index released Tuesday. However, a strong spring selling season could put an end to the slump in activity. Despite elevated interest rates, homebuilders and real estate agents have reported a solid amount of spring buying activity largely due to continued low inventory in the region.

via The Dallas Morning News|

#dallas-fort-worth #home-prices #housing-market

real-estate2 years ago•1 min saved

March Sees Significant Drop in U.S. Home Sales and Prices

Home sales in the US fell 2.4% in March from the prior month to a seasonally adjusted annual rate of 4.44 million, marking a 22% decline from a year earlier, according to the National Association of Realtors. This sluggish start to the crucial spring selling season was attributed to higher mortgage rates that squashed momentum from the previous month. Additionally, home prices in March posted the biggest annual decline in 11 years.

via The Wall Street Journal|

#home-sales #mortgage-rates #national-association-of-realtors

real-estate2 years ago•2 min saved

US Homebuilder Sentiment Reaches New High in April.

Homebuilder sentiment in the US housing market rose to 45 in April, the highest level since September, due to declining mortgage rates and low inventory. However, the index still points to a slump in the housing sector ahead of the pivotal spring-selling season. The interest rate-sensitive housing market has borne the brunt of the Federal Reserve's aggressive campaign to tighten policy and slow the economy. Despite this, demand has shown early signs of returning as mortgage rates fall from a record high of 7.08% in November, and limited inventory has also bolstered demand this month.

via Fox Business|

#homebuilder-sentiment #housing-market #inventory