Housing starts fell 0.5% below October levels, to a seasonally adjusted rate of 1.43M, while completions rose 10.8% month over month, according to US Census Bureau data issued Tuesday Housing starts and new building permits both posted declines in November while building completions logged a monthly increase during the same period, according to U.S. Census Bureau data released Tuesday.Newly issued building permits dropped 11.2
Year-over-year rent growth dropped to the lowest level June 2021, but remained 3 times higher than the historical average before the onset of COVID-19, according to data Tuesday by CoreLogic Single-family rent slowed for the sixth-consecutive month in October but remained 8.8 percent higher than where it was the year before, according to a new report from a leading data firm tracking rent prices.The year-over-year growth was the lowest
NAR Chief Economist Lawrence Yun draws the distinctions between today’s real estate market and that of more than a decade ago. Many homeowners are still haunted by the 2008 housing crash when property values collapsed and foreclosures spiked. The memory of sudden catastrophe at a time when the real estate market had been riding high may help explain why 41% of Americans say they now fear a housing crash in the next year, according to a new surv
Economic news this week spelled better news for home buyers who are shopping for a mortgage, even after the Federal Reserve’s latest rate hike. Mortgage rates continued to dial back this week as new economic data showed inflation is further cooling off. Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.31% this week. Rates have been decreasing ever since hitting a high of 7.08% last month.The decreasing rates are mak
As the housing market cools quickly, house flippers are finding it harder to make fast profits.In the third quarter, gross flipping profit, which is the difference between the median purchase price paid by investors and the median resale price, dropped to $62,000, according to ATTOM, a real estate data provider. That’s down 18.4% from the second quarter and down 11.4% year-over-year. It represents the smallest profit since the end of 2019 and t
Smart home tech isn’t just for the single-family home. These systems and devices can improve property management, reduce cost and emissions and enhance the tenant experience. Smart home tech in multifamily communities is quickly becoming a must-have for today’s discerning renter, and with good reason. The right technology can play a significant role in improving residents’ experiences and enhancing the ease of operations for onsite staff. B
It has been a decade! A full 10 years of striving to provide better real estate services and lifestyles for everyone in our grasp. We thank every one of our loyal members and look forward to continuing our relationship on even more prosperous grounds. And we also thank each and every individual that has put their faith into our members and worked with us to get your own dreams fulfilled. With over $300 million in sales in over 1K transactions, sa
The latest home design fads often are inspired by the past. Find out the trends from years ago that are among consumers’ favorites.
Media headlines focusing on a pending US housing market crash are based on limited data that's skewed by the outsized 2021 numbers New markets require new approaches and tactics. Experts and industry leaders take the stage at Inman Connect New York in January to help navigate the market shift — and prepare for the next one. Meet the moment and join us. Register here.This post has been republished with permission from Mike De
Over the last four weeks, borrowing costs have posted their largest decline since 2008. If all your buyers want for Christmas is a lower mortgage rate—they may just get it.The 30-year fixed-rate mortgage averaged 6.33% this week, according to Freddie Mac, dropping for the fourth consecutive week after hitting a high of 7.08%. Mortgage rates are falling due to increasing concerns about lackluster economic growth, says Freddie Mac Chief Economist
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