Two weeks ago on CNBC, I talked about how the housing market was poised for growth for the first time in years — unless mortgage rates shot up due to the war with Iran. Mortgage rates were sub 6% before the war and today they hit 6.62%, according to Mortgage News Daily. That is a […]
Mortgage rates now closer to 7% than 6% as the Iran war escalates Read More »
U.S. home price growth remained muted in October as high mortgage rates and affordability constraints continued to weigh on the housing market, according to data released Tuesday by S&P Dow Jones Indices. The S&P Cotality Case-Shiller U.S. National Home Price Index rose 1.4% from a year earlier — up slightly from a 1.3% annual increase
Home price growth slows, affordability pressures persist Read More »
Mortgage rate movement remains stuck in neutral as 2025 comes to an end, but the U.S. housing market has shown signs of life during a traditionally slow period. On Monday, Mortgage News Daily reported an average 30-year fixed rate of 6.19%, down 5 basis points from a week earlier. And on Tuesday, HousingWire’s Mortgage Rates
Will stable mortgage rates and home prices set the table for a strong 2026? Read More »
November’s declining mortgage rates enticed more homebuyers to come off the sidelines, resulting in an uptick for the National Association of Realtors’ (NAR) Pending Home Sales Index (PHSI). According to NAR data released Monday, pending home sales were up 3.3% month over month in November, as the PHSI rose to a reading of 79.2. On
Pending home sales rise in November as lower rates spur buyers Read More »
The housing market experienced a slightly positive shift mid-June and is ending 2025 on even more positive news. Existing home sales have shown four consecutive months of year-over-year growth and our total pending home sales data has just reached a multiyear high for this calendar week. By tracking weekly housing demand we can see that
Total pending home sales reach multiyear high with mortgage rates near 6% Read More »
The number of contract signings stayed flat month over month, as the National Association of Realtors’ (NAR) Pending Home Sales Index stalled at a reading of 74.8 in September. An index reading of 100 is equal to the level of contract activity in 2001. “Contract signings matched the second-strongest pace of the year. However, signings
Pending home sales flat in September as affordability challenges persist Read More »
Alabama’s housing market is splitting. Lower-priced homes are selling briskly, while higher-end listings linger, according to the latest HW Data. Affordable homes fuel pending sales Alabama’s entry-level homes are moving quickly. The state recorded 1,843 pending sales in its most affordable tier last week at a median price of $165,000 — well below the national
Alabama’s housing market reveals a growing affordability divide Read More »
Homebuyers remained hesitant in July, despite the slight decrease in mortgage rates and uptick in inventory, according to the National Association of Realtors’ (NAR) Pending Home Sales Index released Thursday. Nationwide, the index fell to a value of 71.7, down 0.4% from June. On an annual basis, however, pending home sales were up 0.7%. An
Pending home sales show slight annual gain in July Read More »
Nearly 58,000 U.S. home-purchase agreements were canceled in July, equal to 15.3% of homes that went under contract during the month, according to a Redfin analysis of MLS data. That marks the highest July cancellation rate since the company began tracking the metric in 2017 — and up from 14.5% a year ago. Analysts point
Home purchase cancellations hit 8-year high Read More »
The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are
How to think about home prices for the rest of 2025 Read More »