10 States With the Most Affordable Cost of Living
Top 10 States with the Lowest Cost of Living We’ve had a lot of posts related to the cost of living and how it affects real estate and quality of life. With that in mind, a recent report from Realtor.com reveals their list of the top 10 states with the lowest cost of living. The […]
September saw a 1% decrease in existing home sales.
National Association of Realtors Reports Decrease in Existing Home Sales The National Association of Realtors latest report reveals a 1% decrease in existing home sales in September, with a seasonally-adjusted annual rate of 3.84 million – marking a 3.5% decline year over year. Total housing inventory at the end of September was 1.39 million units, […]
Home sales in September saw a 4.1% increase compared to the previous month.
New Home Sales Increase by 4.1% in September The U.S. Government has reported that sales of new single-family houses in September 2024 reached a seasonally adjusted annual rate of 738k. This figure represents a 4.1% increase from August’s revised rate and a 6.3% surge compared to the same period last year. The median sales price […]
Demand for mortgages for second homes has dropped to its lowest level in eight years.
The Decline in Mortgage Demand for Second Homes We recently posted about how there are around 6.5 million second homes in America. With that in mind, a recent report form Redfin says mortgage demand for second homes has fallen to an 8-year low. Specifically, they say mortgage-rate locks for second homes fell 13.1% year over […]
CoreLogic’s latest report on US home prices for September 2024 reveals a continued upward trend in the housing market.
CoreLogic Home Price Insights Report: July 2024 According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide, including distressed sales, increased year over year by 4.3% in July 2024 compared with July 2023. On a month-over-month basis, home prices grew by 0.01% in July 2024 compared with one year ago. CoreLogic says […]
The housing sector continues to account for more than 16% of the GDP.
The Impact of Housing on the Economy We recently posted about the nation’s GDP was up 2.8% in Q2, 2024. The NAHB’s Eye on Housing took a deeper dive into the numbers to reveal that housing’s share of the economy stayed level at 16.1% in the Q2, 2024 and remained above 16% after staying constant […]
Construction spending in the U.S. experienced a slight decrease once again in June.
The U.S. government has reported that total construction spending in June 2024 was at a seasonally adjusted annual rate of $2,148.4 billion, which is 0.3% lower than May’s revised number. However, June’s revised estimate is 6.2% higher than one year ago. Residential construction was at a seasonally adjusted annual rate of $928 billion in June, […]
S&P CoreLogic Case-Shiller surpasses last month’s record high.
The most recent report from the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index showed a 5.9% annual increase in May 2024. The 10-City Composite saw a 7.7% increase, while the 20-City Composite saw a 6.8% increase year-over-year. According to Brian D. Luke, Head of Commodities, Real & Digital Assets at S&P Dow Jones […]
Pending home sales saw a 4.8% increase in the month of June.
The National Association of Realtors has reported a 4.8% increase in pending home sales in June 2024. The Pending Home Sales Index, based on contract signings, reached 74.3 in June, with all four U.S. regions seeing an increase in transactions. The chief economist at NAR, Lawrence Yun, noted that the rise in housing inventory has […]
Existing Home Sales Down Slightly in May
[ad_1] The National Association of Realtors has reported a 0.7% decrease in existing home sales in May, with a total of 4.11 million homes sold at a seasonally-adjusted annual rate. This marks a 2.8% decline compared to the previous year. Inventory levels have increased, with 1.28 million units available at the end of May, representing […]