Mortgage rates are still twice what they were a year ago, but home prices have been falling since June, and that’s finally making consumers feel better about what had been an overheated, highly competitive housing market.A monthly housing sentiment index from Fannie Mae showed sentiment improving from November to December. The index is still lower than it was a year ago and just slightly off its record low set in October and November.The share
It’s time for mortgage lenders to stop comparing 2022 volume and 2023 projections to the refinance-fueled record fundings of 2020 and 2021. The pandemic refi boom is long over, and while home buyers who need mortgages are still absorbing this year’s rate spike, the worst of U.S. inflation that fueled the rate spike is also likely over. Heading into 2023, there are three market factors that set up the purchase market for smart, focused lenders
From downsizing to buyer’s remorse, wealthy home buyers are facing many of the same struggles as other consumers in the new year.The luxury housing market, like most other real estate sectors, is adjusting to a slowdown. Affordability and home size are every bit as much on wealthy buyers’ minds as other consumers. “The reality is we are coming out of one of the best real estate markets in history,” Gary Gold, a luxury property specialist
Given the increases in mortgage rates that have transpired, significant slides in homebuilding activity are being taken for granted in the U.S. and Canada. Based on the latest housing starts statistics, this is already underway and clearly apparent in the former more than in the latter. See Graph 8 below, where Canadian housing starts have been moving mostly sideways throughout this year, while U.S. starts have been exhibiting significant decline
Winter can still be a good time to sell a house, but you may have to work a little harder to make the space appear cozy, warm, and inviting against the dreariness of the season. HomeLight(link is external), a real estate referral company, recently gathered some insights from top agents about how to sell a house quickly in cold weather.1. Snow removal is important.Snow is one of the biggest nuisances when you’re trying to sell a house. It
The risk of a recession coming in the new year appears to be rising based on state economic data, according to new research from a Federal Reserve bank. The research released Wednesday from the Federal Reserve Bank of St. Louis shows that 27 states experienced negative growth in a measure called state coincident indexes (SCI) in October. SCI is a combination of four state-level indicators that the Federal Reserve Bank of Philadelphia combine
About Sha'nae Sha'nae Lee is a San Diego Native. She has a few years of Real Estate sales under her belt. She is passionate when it comes to meeting her clients' needs and loves to take on the challenge in today's fast-paced market. Real Estate has always been her passion, especially after purchasing her first home. Her main focus is to ensure that her clients are at ease every step during their home buying process. Her excellent communication sk
The number of homes that went under contract in November dropped by another 4%, signaling a slow winter, according to data released Wednesday from the National Association of Realtors Pending home sales fell in November for the sixth consecutive month, yet another sign that things may continue to get worse for real estate agents before they get better.The number of homes that went under contract in November was down 4 percent
National home prices tallied a 0.5% monthly decrease between September and October, according to data released Tuesday by real estate analytics provider CoreLogic Home prices continued their slow decline in October as the housing market responded to mortgage rates exceeding 7 percent at times, according to data released Tuesday by real estate data provider CoreLogic.National home prices fell 0.5 percent between Septe
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