Posts Tagged ‘real estate investing’
Home Prices Begin to Decline from Record Highs in the U.S.
Inflation, high mortgage rates leading to fewer sales and softening home prices nationwide Based on a new report from national property broker Redfin, the median sale price for U.S. homes came down 0.7% from its record-breaking June 2022 peak during the four weeks ending July 10, 2022. Sellers’ asking prices also came down 3% from…
Read More
As mortgage rates rise, here’s how to decide whether you should buy a home or rent
It’s becoming harder to afford a home. Prices are up almost 20% year over year, and mortgage rates are soaring. The rate for a 30-year fixed loan is now 5.57%, according to Mortgage News Daily, up from 3.29% at the start of the year. At the same time, consumer prices on everything from gas to food are also accelerating, costing…
Read More
New Program Gives Florida Homeowners Solar Panels And Battery Backup For $0
Power companies are not happy that homeowners are taking advantage of huge government solar programs to save $1,000’s in electricity costs. These Solar Programs may cover up to 100% of the installation cost. Why now, you ask? Good question. In just the past year or two, solar panels and battery storage costs have dropped fast, allowing solar to become…
Read More
These are the 10 states with America’s most stable housing markets
The three most important things in real estate: location, location, location. And the U.S. housing market is in a weird place right now. Mortgage rates are nearly double what they were a year ago, reflecting the Federal Reserve’s campaign to rein in inflation. But they have also been volatile, including some sharp declines from week to week.…
Read More1 in 4 U.S. Home Sellers Nationwide Now Lowering Asking Prices in June
Fast rising mortgage rates, economic uncertainty negatively impact home sales and prices mid 2022 According to national property broker Redfin, nearly two-thirds (61.5%) of homes for sale in Boise, ID had a price drop in June 2022.That’s the highest share of the 97 U.S. metros in Redfin’s analysis. Price drops have become a common feature…
Read More
Residential Rents Nationwide Rise 14 Percent Annually in June
Smallest Rental Rate Increase Since October 2021 National property broker Redfin is reporting this week that residential rent increases tapered off in June 2022, with the national median asking rent rising 14% from a year earlier–the smallest annual increase since last October. Asking rents were up 0.7% from May, the smallest month-over-month gain since the…
Read More
What you need to know about backing out of a home purchase when you’re under contract
If you’re a prospective homebuyer who is having second thoughts, you’re not alone. About 15% of all home contracts fell through in June, marking the highest share of cancellations since March 2020 — the start of the pandemic — when it was 17.6%, according to real estate brokerage Redfin. A year ago, the share was 11.2%.…
Read More
Mortgage Credit Availability in U.S. Dips in June
Based on a report from the Mortgage Bankers Association that analyzes data from ICE Mortgage Technology, U.S. mortgage credit availability decreased in June 2022, according to the Mortgage Credit Availability Index (MCAI). The MCAI fell by 0.3 percent to 119.6 in June. A decline in the MCAI indicates that lending standards are tightening, while increases…
Read More
Moves that homebuyers can still make to find a lower mortgage rate
After dropping to record lows in 2020 and 2021, mortgage rates are back up. Way up. While the past few weeks saw a reversal in the surge, at near 6%, current mortgage rates are still almost double what some homebuyers were paying in recent years. With soaring inflation and the possibility of further rate increases, some homebuyers…
Read More
New Home Sales Increased in US, Before Fed’s June Rate Rise
After posting four consecutive monthly declines on rising mortgage rates and worsening affordability conditions, new home sales posted a solid gain in May as some buyers rushed into the market in advance of the Federal Reserve’s June interest rate hike. Sales of newly built, single-family homes in May increased 10.7% to a 696,000 seasonally adjusted…
Read More