Builder confidence is undermined by high mortgage rates.
High mortgage rates are a contributing factor to the weakening of builder confidence. The NAHB has reported that builder confidence in the market for newly built single-family homes has dropped below the key break-even measure of 50 for the first time in five months due to persistently high mortgage rates. According to the National Association […]
According to Redfin, there has been a decrease in investor activity as they bought 45% fewer homes compared to the previous year.
A recent report from Redfin reveals that investor home purchases in Q2 2023 experienced a significant decline of 45% compared to the previous year, marking the largest drop since 2008. This decline in investor purchases surpassed the overall decline in home sales, which stood at 31%. The report also highlights that investor market share has […]
U.S. Employment Situation – August 2023
Total nonfarm payroll employment increased by 187k, in August 2023, with the unemployment rate rising to 3.8%.
FHFA Says Q2 Home Prices Up 3% Over Last Year
[ad_1] rewrite the content without plagiarism for 1500 words According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), home prices were up 3% over Q2 2022 though Q2 2023. In addition, they report prices were up 1.7% compared to the first quarter of 2023 and up 0.3% from May to June, […]
S&P CoreLogic Case-Shiller Index Flat in June
[ad_1] rewrite the content without plagiarism for 1500 words The latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 0% annual change for June, 2023. Their 10-City Composite decreased 0.5% and their 20-City Composite decreased 1.2%, year-over-year. However, all 20 major metro markets reported month-over-month price increases for the fourth straight month […]
Redfin Says Investors Buying Half as Many Homes as They Were a Year Ago
[ad_1] A new report from Redfin says that investor purchases of U.S. homes fell a record 45.8% year over year in Q4 2022. They said the high cost of borrowing money and the prospect of substantial home-price declines have made real estate investing less attractive. In addition, they point out that the 2nd biggest decline […]