For the week ending July 7, the 30-year fixed-rate mortgage averaged 5.3% according to data released by Freddie Mac. That is down from 5.7% the week before. Even with the 40 basis points drop, it’s still significantly higher than the 2.9% rate from this time last year. At the start of the new year, rates… [Read More]
U.S. Home Prices Above $400,000 for First Time
Existing home sales in the U.S. dropped to a two-year low in May as prices climbed to a record high – topping $400,000 mark for the first time – and mortgage rates further increased. Entry-level home buyers are continuing to get pushed out from the market. Even with a monthly drop in sales four months… [Read More]
Record bidding wars show no signs of slowing
January 2022 was the most competitive month ever for house hunters due to new families, remote workers, and rising mortgage rates according to Bloomberg. “It’s been incredibly frustrating,” said Erin Damato, in an interview with Bloomberg. “House prices have gone up about $100,000 since we’ve been looking.” Damato and her husband have been seriously hunting… [Read More]
New Survey Suggests Real Estate Craze Was Not as Intense as Indicated
Anecdotal evidence that the late-2020-into-early-2021 real estate market was hot but new data from Zillow’s Consumer Housing Trends Report debunks a common misconception that all buyers experienced a grim reality when it came to home buying. The record-setting housing market that begin several months after the onset of the covid-19 pandemic brought reports of frustrated… [Read More]
U.S. Housing Markets Poised for 2021 Swell
The 2020 Covid-19 pandemic has upended the country’s real estate market but some regions are in better positions to bounce back than others. The shift to working from home for many Americans meant households across the country rethought where they lived. There was a surge in interest in vacation towns as wealthier Americans opted for… [Read More]
Charlotte Real Estate Trends for December 2017
CHARLOTTE, N.C. – The Charlotte Regional Realtor® Association reports on the residential real estate market in this region based on data from Carolina Multiple Listing Services, Inc. (CarolinaMLS). CarolinaMLS finished the year with December 2017 sales down 8.4 percent compared to December 2016, with 3,407 properties sold compared to 3,720 properties sold in December 2016…. [Read More]