Tag Archives: Mortgage Rates

“This holiday season, homeowners are the ‘grinches,’ hoarding housing supply from willing buyers and keeping upward pressure on prices," said Mark Fleming, Chief Economist at First American. But the question remains: Will the New Year offer discouraged homebuyers more hope?

NAR Chief Economist Lawrence Yun said, "The latest weakness in existing home sales still reflects the buyer bidding process in most of October, when mortgage rates were at a two-decade high before the actual closings in November.”

Mortgage applications climbed in November, but will home sales accelerate throughout the end of the year? Mark Fleming, Chief Economist at First American, details the state of existing-home sales and more market predictions.

The National Association of Realtors' latest forecast predicts a modest bump in existing-home sales while annual median home prices should remain relatively flat—something that bodes well for affordability.

While the average homebuyer can now afford to spend even less on a home, a new Point2 study revealed that the median home price in the U.S. is now 50% higher than the average affordable home price.

After a roller-coaster two years, experts expect a ‘flat stretch’ over the next 12 months, according to a new report.

As mortgage rates continue to ease, homebuyers are still constrained by elevated housing costs, according to Zillow's latest housing report. However, cooling home values did provide some relief in November.

The least affordable markets included Anaheim and San Francisco, where homebuyers with the typical local income would’ve needed to spend over 80% of their pay on monthly housing costs.

Redfin has made new predictions for the 2024 housing market, leading with the notion that next year may finally turn in favor of buyers as home prices fall and listings rise. Here’s what else they are forecasting.

Affordability may make a resurgence in 2024, and markets such as Toledo, Ohio; Oxnard, California; and Rochester, New York are being singled out as potential hot markets. Here are the other markets that are primed to perform next year.