The number of homes that went under contract in November dropped by another 4%, signaling a slow winter, according to data released Wednesday from the National Association of Realtors Pending home sales fell in November for the sixth consecutive month, yet another sign that things may continue to get worse for real estate agents before they get better.The number of homes that went under contract in November was down 4 percent
National home prices tallied a 0.5% monthly decrease between September and October, according to data released Tuesday by real estate analytics provider CoreLogic Home prices continued their slow decline in October as the housing market responded to mortgage rates exceeding 7 percent at times, according to data released Tuesday by real estate data provider CoreLogic.National home prices fell 0.5 percent between Septe
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The omnibus bill cleared Congress on Friday and now goes to President Joe Biden’s desk for his signature. Congress gave final approval Friday to a bipartisan bill to fund the government through Sept. 30, 2023, clearing the last major piece of legislation for the year. President Joe Biden is expected to sign the measure into law Friday. Included in the bill are an extension of the National Flood Insurance Program (NFIP) through Sept. 30 and a ho
Borrowing costs have been moderating over the past six weeks, declining significantly after breaking 7% last month. Mortgage rates have been moderating over the past six weeks, declining significantly after hitting a 7.08% high last month. The 30-year fixed-rate mortgage is settling into the 6% range, averaging 6.27% this week, Freddie Mac reports.Homeownership has become nearly 10% more affordable in this time as rates have eased. The average mo
(1) One indicator with a strong record for reliability concerning the health of the U.S. labor market is the weekly initial jobless claims figure released by the Bureau of Labor Statistics (BLS). A number above 300,000 generally correlates with high unemployment and recession. As the figure descends below 300,000, however, the labor market is tightening. Down around 200,000, the unemployment rate will be about as low as it ever manages to go. Tha
Sales of existing homes in November fell 7.7% to a seasonally adjusted annual rate of 4.09M, according to data released Wednesday by the National Association of Realtors Existing-home sales dropped for the tenth-consecutive month in November, according to data released Wednesday by the National Association of Realtors.Sales of existing homes in November fell to a seasonally adjusted annual rate of 4.09 million, a 7.7 percent drop f
Confidence among U.S. single-family home builders fell for a record 12th straight month in December as even a scramble to offer incentives for prospective buyers failed to boost traffic and lift sales in today's high-inflation, high-interest rate environment.Kicking off a week of key reports on the health of the foundering U.S. housing market, the National Association of Home Builders on Monday said its NAHB/Wells Fargo Housing Market Index dropp
Housing starts fell 0.5% below October levels, to a seasonally adjusted rate of 1.43M, while completions rose 10.8% month over month, according to US Census Bureau data issued Tuesday Housing starts and new building permits both posted declines in November while building completions logged a monthly increase during the same period, according to U.S. Census Bureau data released Tuesday.Newly issued building permits dropped 11.2
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