At the height of last year's housing market, a good home listed for sale on a Wednesday would often be sold by the end of the weekend. Hopeful home buyers had to act fast if they hoped to get a winning offer in on a listing that garnered a lot of interest. These days, though, the housing market has slowed. But does that mean you no longer have to worry about losing an opportunity to a faster, better prepared buyer? Not really. Though buyer demand has definitely slowed, the supply of homes remains low and good homes still sell quickly. ... Read More

Higher mortgage rates have home buyers feeling more hesitant. But if you're a buyer who's concerned about declining affordability conditions, there may be some encouraging news in a recent release from the National Association of Realtors' consumer website. The data shows a rising number of homes for sale have had a price reduction. In fact, the share of homes with price reductions was up 10.3 percent to 20.9 percent in October. For comparison, price reductions were at 17 percent in 2019 and 21.2 percent in 2018. In other words, the current... Read More

More first-time home buyers are active in the market these days, with the share of younger buyers rising from 37 percent last year to 45 percent more recently. The past several years have been tough for first-time home buyers. The inventory shortage that kept buyers fighting over too few homes for sale was particularly pronounced on the affordable end of the market. That meant, rising prices and few options for younger Americans looking to purchase their first house. These days, though, things seem to be turning around. For one, the... Read More

Affordability is always a top concern for home buyers. That's no surprise. Buying a home is a major financial transaction and you want to feel comfortable knowing you're getting a good deal for your money and that you can afford the monthly mortgage payment. That's why recent spikes in mortgage rates and home prices have potential buyers more hesitant these days. So where does affordability stand right now? Well, according to the most recent release of the Mortgage Bankers Association's Purchase Applications Payment Index, the national... Read More

You can tell a lot about the housing market by watching the balance of supply and demand. When there are too few homes for sale, the market's harder on home buyers. Too few homes leads to rising prices and buyer competition. These days, fortunately, the number of homes for sale is improving. That's good news for buyers, as it'll help slow price increases after years of double-digit spikes. But inventory's still low, and a big part of reaching better balance is the pace of new home construction. In short, we need more new homes. So what's... Read More

When homes are selling quickly, home buyers need to be prepared. If they aren't, they risk losing a home they're interested in to a better prepared buyer who got to it first. That was a common occurrence during the frenzied days of last year's housing market. A good home for sale could be off the market in a matter of days, which meant buyers needed to be ready to act fast. Fortunately, the market has calmed down since then. In fact, according to one new analysis, the number of days homes typically spend on the market just improved for... Read More

New homes are generally more expensive than previously owned homes. That's not surprising. Anything brand new typically costs more than something used. But if you're a prospective home buyer who's been reluctant to consider buying a new house because of the price tag, the latest Housing Market Index from the National Association of Home Builders has good news for you. The index – which is based on a monthly survey of home builders – found one in five say they've reduced their prices in the past month. Of course, the reason they've cut... Read More

A new quarterly report from the National Association of Realtors found the median home price reached a new record high during the second quarter. By the end of June, it was up to $413,500. That's after the vast majority of metro areas saw double-digit price gains from the year before. Put simply, it got more expensive to buy a home this spring. But though buying got more costly during the first half of the year, could the second half of the year bring buyers some relief? Maybe, according to Lawrence Yun, NAR's chief economist. Yun says... Read More

A competitive housing market can be stressful for home buyers. When there are more buyers than homes for sale, available homes sell quickly and for more than their asking price. It can put pressure on buyers and their budgets. So how competitive is today's market? Well, one good measure of competitiveness is showing activity. The higher the number of average showings per listing, the more competition there likely is between buyers. Fortunately for today's home shoppers, showing activity has been slowing. In fact, the number of housing... Read More

Home prices have been increasing at an accelerated pace for years now. That's great for homeowners but an obvious challenge for buyers, who could likely use some relief. Fortunately, they're starting to get it. The number of homes available for sale is improving and the added inventory should begin to correct some of the imbalance that's been driving prices higher. According to one recent analysis, it's already started. The latest SP Case-Shiller Indices – considered among the leading measures of U.S. home prices – shows price increases... Read More