The continuing rise of homes in the country’s top metropolitan areas are forcing homebuyers to look at cheaper options. Midsize cities in the South and Midwest offer the biggest bang for your buck. Cities like Chattanooga, Tennessee; Columbia, South Carolina; El Paso, Texas and Louisville, Kentucky could soon be some of the hottest housing markets… [Read More]
U.S. Housing Market Experiencing Big Home Price Correction
The U.S. is seeing it’s second biggest home price correction of the post-WWII era with 55% of Americans saying they cannot afford to buy their home in today’s market, according to the CATO Institute 2022 Housing Affordability National Survey. Mitch Roschelle, Macro Trends Advisors founding partner, told Fox News he attributes the huge correction to… [Read More]
Majority Of The Largest Housing Markets Saw Huge Price Decrease In September from 2022 Peaks
After the most competitive period in recent memory, the housing market is rebalancing. The cooling trend that has taken the market by storm is expected to continue seeing more price declines in more cities according to a Knock Buyer-Seller Market Index report released today. The index analyzes key housing market metrics to measure whether the… [Read More]
New Report Shows Good Signs for Homebuyers
According to the latest RE/MAX National Housing Report, home sellers accepted offers below their listing prices on average based on data from August. This is further indication of the housing market rebalancing which is a source of relief for prospective homebuyers who have faced an incredibly competitive market. Out of the report’s 51 metro areas,… [Read More]
Sharp Home Price Decline Possible Says Fed
At a Federal Open Market Committee press conference in September, Federal Reserve chair Jerome Powell was asked to clarify what he meant when he said the U.S. housing market would “reset.” He answered: “We’ve entered into a ‘difficult correction’ that will see the U.S. housing market transition to a more “balanced” market for buyers and… [Read More]
Mortgage Rates Down Slightly After Several Weeks of Rising
The week ending on October 5th saw the 30-year fixed-rate mortgage averaging 6.66%, down from 6.70% the week before. This is according to Freddie Mac. Since the start of 2022, mortgage rates have more than doubled as the Federal Reserve continues its unprecedented hiking of interest rates to try and tame the rise of inflation…. [Read More]