Homeownership became out of reach for millions of Americans following the recent boom in home prices. Lower-income families have been hit especially hard, with the share of new homes selling for under $300,000 plummeting to 10% from 35% in just two years. A number of factors, including more than a decade of limited homebuilding, a …
“Worsening affordability appears to be having an impact on demand, which could lead to prices plateauing or even correcting modestly in some markets,” one pro told MarketWatch Picks. Getty Images/iStockphoto Rising home prices and mortgage rates have made homeownership unaffordable across much of the United States. Indeed, home prices have jumped 20% over the past …
Mark Fleming Housing has become increasingly unaffordable to millions of Americans — with home prices and mortgage rates continuing to rise (see the lowest rates you may qualify for now here). So – as part of our series where we ask prominent economists and real estate pros their take on the housing market now – …
Some real estate markets are more vulnerable to a downturn than others. Getty Images Six of the 10 counties most vulnerable to a downturn are in New Jersey, according to a Special Housing Risk Report — which looked at the highest concentrations of the most at-risk markets in the first quarter of 2022 — released …
6 of the 10 housing markets in America most vulnerable to a downturn are in this state Read More »
This housing market, it would appear, isn’t built on the same creaky foundations of the subprime crisis. Consider these statistics from Fannie Mae FNMA, the U.S. government-backed buyer of home mortgages. The weighted average FICO credit score in the first quarter for a single family home was a sterling 748. The origination loan to value …
Here’s the loophole that makes the U.S. housing market more wobbly than it appears Read More »
As part of our series where we ask prominent economists and real estate pros their take on the housing market now, we talked to Nadia Evangelou, senior economist and director of forecasting at the National Association of Realtors. National Association of Realtors The housing affordability crunch is here — with mortgage rates continuing to rise …
New Orleans homeowner Lisa Tourtelot says homes were flying off the market in her neighborhood as recently as a month ago. Now, as she prepares to list her own house for sale, the homeowner is on edge. Mortgage rates, property taxes, and homeowners insurance are all on the rise, she says—developments the 36-year-old fears are …
Sellers Are Getting Anxious as Home Sales Slow Down Read More »
Steve Reich Mortgage rates climbed above 6% last week, according to Bankrate data, with some pros saying they may go higher. (You can see the lowest mortgage rates you may qualify for here.) On top of that, home prices have risen more than 20% year-over-year, causing affordability challenges for many aspiring homebuyers. And it’s likely …
Angelenos, congratulations — you officially live in one of the worst metro areas for first-time home buyers, according to a new study by Bankrate.com. Out of the 50 largest metro areas studied, Los Angeles ranked 49th in affordability, 48th in employment factors, 30th in safety, and 39th in housing-market tightness, as the supply of homes …
‘All of this points to a broader weakness in the housing market’: Buyers are officially spooked by rising interest rates — just don’t expect a real-estate crash The U.S. housing sector is losing steam amid rising rates, which is spooking some would-be home buyers, according to various reports. The housing sector’s been red-hot for months …
