Tag: home sales
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Here’s the loophole that makes the U.S. housing market more wobbly than it appears
This housing market, it would appear, isn’t built on the same creaky foundations of the subprime crisis. Consider these statistics from Fannie Mae FNMA, +0.88%, the U.S. government-backed buyer of home mortgages. The weighted average FICO credit score in the first quarter for a single family home was a sterling 748. The origination loan to ... -
Toronto home sales down 41% from June 2021: real estate board
TORONTO — June sales of Toronto homes fell by roughly 41 per cent compared with the same month last year as higher borrowing costs weighed on the market, the region’s real estate board said Wednesday. About 6,474 homes changed hands last month, down from 11,053 during the prior June, the Toronto Regional Real Estate Board ... -
A Housing Market Correction Is More Likely Than A Catastrophe
Text size Fears of a housing crisis are likely overblown. Stefani Reynolds/AFP/Getty Images About the author: Ken Shinoda is a portfolio manager with Jeffrey Gundlach and Andrew Hsu of the DoubleLine Total Return Bond Fund. In the depths of the pandemic lockdowns, some feared housing price and mortgage implosions on a scale of the 2007-2009 ... -
This city is ‘the epicenter of the housing crisis,’ says a Biden administration official
U.S. Department of Housing and Urban Development Secretary Marcia Fudge dubbed sunny Miami the “epicenter of the housing crisis in this country” during a visit Tuesday. Fudge made that stark remark on Miami’s affordability issues while visiting Liberty Square, a public housing complex in the South Florida city, according to the Miami Herald. To anyone ... -
Renting vs. owning: The difference is ‘higher than at any time since the turn of the century’
The housing market may be slowing down, but owning a home is still a costly proposition. Two charts reveal exactly how expensive it is. Just over a year ago, the monthly cost of owning and renting were practically identical, according to a blog post from John Burns Real Estate Consulting. “Now, owning a home costs ... -
The ‘cost to build a home in the U.S. has risen at an unprecedented rate,’ BofA says
House prices have been ballistic over the last two years, in part due to a big shortage in housing materials. A new report lays out what elements actually go into building a home, highlighting how complicated — and expensive — the process can get. “In the last three years, the cost to build a home ... -
‘All of this points to a broader weakness in the housing market’: Buyers are officially spooked by rising interest rates — just don’t expect a real-estate crash
‘All of this points to a broader weakness in the housing market’: Buyers are officially spooked by rising interest rates — just don’t expect a real-estate crash The U.S. housing sector is losing steam amid rising rates, which is spooking some would-be home buyers, according to various reports. The housing sector’s been red-hot for months ... -
Housing prices in Kingston, Ont. start to cool off – Kingston
After house prices skyrocketed during the COVID-19 pandemic, the Kingston, Ont., housing market appears to be showing signs of cooling off. Real estate brokers say house prices have fallen in recent months but is it enough to make home buying affordable? Real estate broker Matt Lee says the average median price of a house is ... -
5 economists and real estate pros predict the housing market this summer
Want to buy a home? Here’s what pros say you may want to know this home buying season. Getty Images/iStockphoto Home prices have been climbing, as have mortgage rates (you can see the lowest mortgage rates you can qualify for here), and many buyers are wondering: What’s in store for us this summer? We asked economists ... -
After 2 stormy years of ‘moonshot’ house prices, don’t hold out hope for a major correction. Why COVID-era property values may be here to stay.
There is hope for first-time buyers looking to enter the U.S. housing market, but observers say they will have to be patient. After a two-year surge in home prices during the COVID-19 pandemic, the housing market is finally showing signs of cooling — in terms of demand and sales, if not those persistently high prices ...
