In recent months, the US real estate market has seen home prices soar to unprecedented levels, reaching the highest point ever on the S&P CoreLogic Case-Shiller U.S. National Home Price Index. Despite a slowdown in the pace of annual gains, prices nationally were still 5.4% higher than the previous year, showcasing the ongoing demand for
Real Estate
In recent times, the concept of ownership has been undergoing a significant shift among Americans, driven by various factors such as affordability and changing lifestyles. According to a report by Intuit Credit Karma, more individuals are opting to rent a wide range of products and services, including cars, apartments, clothing, and furniture. The rental industry
The city of Manhattan, New York, is notorious for its sky-high real estate prices, with a median price per square foot reaching $1,500 according to a report by My Dolce Casa. This exorbitant cost of living often leaves residents with limited options when it comes to purchasing property in the city. However, looking beyond the
Buying a home has long been considered a cornerstone of the American Dream, but in recent times, it has become less affordable for many individuals. The combination of higher mortgage rates and a shortage of available houses on the market has resulted in elevated prices, creating a financial strain for potential buyers. The median sales
Last week, mortgage rates experienced a decline for the fourth consecutive week. Despite this, the response from both existing homeowners and potential homebuyers was lackluster. The Mortgage Bankers Association reported that total mortgage application volume only increased by 0.5% compared to the previous week. The average contract interest rate for 30-year fixed-rate mortgages with conforming
As consumers eagerly await the Federal Reserve’s decision to cut interest rates in September, another significant issue looms on the horizon that could impact the real estate market. The National Flood Insurance Program (NFIP), the largest flood insurer in the U.S., needs to be reauthorized by September 30th to continue issuing new policies or increasing
Affordable housing has become a significant topic in the current economic landscape, with various proposals being put forth by political figures to address the issue. Vice President Kamala Harris recently highlighted the need to make homeownership more accessible by lowering the costs associated with buying and renting homes in the U.S. During a speech in
In a surprising turn of events, shareholder returns for top homebuilders D.R. Horton and Lennar have outpaced the wider S&P 500 between August 2014 and August 2024. Analysts, however, have downgraded the investment outlook of both companies this summer. Despite this, some investors remain optimistic about the industry’s prospects for performance. Industry observers have noted
The recent data released by the National Association of Realtors reveals a positive growth in closed sales of previously owned homes. In July, there was a 1.3% increase compared to June, reaching a seasonally adjusted annualized rate of 3.95 million units. This marks the first gain in five months despite a 2.5% drop in sales
The mortgage rates have experienced a decline for the third consecutive week, which should have been a signal for a surge in refinancing applications. However, this was not the case as there was a notable drop of 15% in applications to refinance a home loan compared to the previous week. Despite this, the volume remains