California home sales fell in January, hitting a year-long low due to high interest rates, according to the CALIFORNIA ASSOCIATION OF REALTORS (C.A.R.). Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 254,110 in January, according to information collected by C.A.R. from more than 90 local REALTOR®…
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Persistently high mortgage rates are having a bigger impact on buyers than on sellers as the home shopping season approaches, the latest data from Zillow shows. Though competition varies greatly by region, most buyers in the market today have a good chance of seeing a price cut on their saved listing. “Homeowners are finally coming…
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The rent burden rises across America. Nearly half of all U.S. renter households are burdened by rent costs, with Gen Z renters shouldering the heaviest load, a new analysis of the U.S. Census Bureau’s 2022 American Community Survey (ACS) by Zillow and its New York City brand StreetEasy shows. Across the country, three in five…
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An updated monthly report by U.S. provider of nationwide property data ATTOM reveals that commercial foreclosures remain elevated. Starting in June 2023, foreclosure numbers saw a sharp increase, peaking at 752 in May 2024, before settling at 695 in ATTOM’s most recent data for September 2024. This recent surge suggests renewed financial stress or changes…
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About 63% of U.S. homeowners have gone into debt to fund a renovation, according to new research from Clever Real Estate, a St. Louis-based real estate company. With 94% of homeowners having completed a major renovation in the past five years, about 3 in 4 (78%) went over budget on their last project. Nearly half…
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Despite rising home prices and mortgage rates, aspiring real estate investors can still find hidden gems in affordable metros across the U.S., Realtor.com says. The real estate listing website unveiled a list of the top U.S. markets for property investment, showcasing opportunities for savvy investors in less obvious but highly promising markets, with the spotlight…
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The National Association of Realtors released a report on Thursday (Sept. 19) showing that existing-home sales dipped in August. Three out of four major U.S. regions posted sales declines while the Midwest registered no change. Year-over-year, sales slipped in three regions but remained stable in the Northeast. Total existing-home sales – completed transactions that include…
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Nearly half of prospective U.S. home buyers struggle with basic home costs and say home insurance affordability is a major factor in where they decide to move, according to the results of a survey of 1,818 US adults across the country. The survey was conducted by Mphasis Digital Risk, a leading provider of origination, diligence,…
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Mortgage rate optimism spikes as the Federal Reserve is expected to lower interest rates at its meeting on September 17–18 but homebuying pessimism persists, Fannie Mae’s Home Purchase Sentiment Index (HPSI) reveals. The Index increased 0.6 points in August to 72.1, as U.S. consumers reported significantly greater optimism about the future direction of mortgage rates…
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Home mortgage lending rebounded in the United States during the second quarter of 2024, ATTOM data showed. Residential loans surged 23.2 percent quarterly while purchase, refinance and home-equity lending all increased. The real estate data company’ second-quarter 2024 U.S. Residential Property Mortgage Origination Report showed that 1.62 million mortgages secured by residential property (1 to…
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