For the tenth consecutive month, existing-home sales have dropped according to the National Association of Realtors. The data for Existing-Home Sales for November was released at the end of December. December’s report will be released at the end of January. All four regions in the U.S. saw month-over-month decreases. The four regions also recorded year-over-year… [Read More]
Could the Housing Market Be Shifting To Favoring Buyers?
According to the Knock Buyer-Seller Market Index released this month, the housing market appears to be moving further in the direction of favoring buyers. This as markets that cooled the fastest in response to the quickly rising interest rates and home prices continued to lessen. Meanwhile many strongholds show no sign of slowing with some… [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]
Home Sales Seeing Highest Rate of Cancellations Since Start of the Pandemic
Around the country, nearly 60,000 home-purchase agreements fell through in June according to a Redfin analysis of MLS data going back through 2017. That is equal to 14.9% of homes that went under contract that month. This is the highest percentage on record with exception to March and April of 2020, when the housing market… [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]
What to expect in 2022’s spring market
The agreement of much of the real estate industry was that the spring housing market, which happens to be the industry’s peak season, would be less frenzied this year. At least that was the thought when ushering in 2022. The consensus was that it couldn’t get much worse than spring of 2021 when over 70%… [Read More]