The median selling price of U.S. homes in May was $419,300, the National Association of Realtors (NAR) reported, the highest on record and 5.8 percent above the price a year earlier.
Tag: Mortgage Rates
Post
SPECIAL REPORT: THE AMERICAN REAL ESTATE BLUES
Hundreds of thousands of American homeowners find they owe far more on their homes than the homes are worth. More than a million others face a huge leap in interest rates on their adjustable-rate mortgages.
Post
CONSTRUCTION OF SINGLE-FAMILY RENTAL HOUSES SETS RECORD
In 2023, U.S. developers built 93,000 single-family homes as rental units, leaping 39 percent above the number in 2022 and setting a record, according to John Burns Research and Consulting.
Post
SLAVELANDIA: MOST RENTERS DOUBT THEY WILL EVER OWN A HOME
Six in 10 renters believe they will never be able to own a home, a record proportion in the Federal Reserve Bank of New York’s annual Survey of Consumer Expectations.
Post
SALES OF EXISTING HOMES FELL IN MARCH
Last month, sales of previously owned homes declined 4.3 percent compared to February and 3.7 percent year on year, the National Association of Realtors (NAR) reported.
Post
RISING MORTGAGE RATES SPOOK HOME BUYERS
The average U.S. rate on a 30-year, fixed-rate mortgage rose last week to 6.88 percent from 6.82 percent the week before, the Federal Home Loan Mortgage Corp. (Freddie Mac) reported.
Post
FEBRUARY HOME SALES UP MOST IN A YEAR
In February, 9.5 percent more U.S. homes sold than in January, the National Association of Realtors (NAR) reported. Although sales were down 3.3 percent year on year, February this year marked the largest monthly jump since February 2023.
Post
MORTGAGE RATES CLIMBING: REAL ESTATE COLLAPSE COMING?
The interest rate on a home mortgage loan has risen to its highest since mid-December, stalling progress on reviving the housing market.
Post
HOME SALES SLOWEST SINCE 2010: WHAT’S NEXT?
In October, the pace of U.S. existing home sales dropped 4.1 percent from September to 3.79 million, the least in any month since August 2010, the National Association of Realtors (NAR) announced. Sales for the month were 14.6 percent fewer than those in October 2022.
Post
MORTGAGE RATES RISE TO 23-YEAR HIGH
Last week, the mortgage interest rate for a 30-year, fixed-rate mortgage averaged 7.57 percent, according to the Federal Home Loan Mortgage Corp. (Freddie Mac), up from 7.49 percent the week before.