The past few years have been challenging for home buyers. Rising mortgage rates and higher home prices have worsened affordability conditions and made potential home buyers increasingly hesitant about purchasing a home. In fact, according to Fannie Mae’s monthly Home Purchase Sentiment Index – which gauges Americans’ perception of the housing market and overall economy – a majority of Americans still feel cautious about entering the market, with most saying they don’t think this is a good time to buy. But while … [Read more...]

The luxury home market is generally defined as the top 5-percent of the most valuable homes in any given region. The range includes homes priced just under $850,000 in Buffalo to homes costing almost $6 million in San Jose. The luxury home market, like the overall housing market, has slowed recently, with overall activity dropping due to economic uncertainty, elevated costs, and higher mortgage rates. But while activity is down, home prices have continued to increase. In fact, according to one new analysis, the … [Read more...]

Mortgage payments grew slightly more expensive due to an early spring rate bump, according to new data from the Mortgage Bankers Association. The group’s monthly Purchase Applications Payment Index tracks the median monthly mortgage payment based on home buyer loan applications. In April, the typical monthly payment increased from $2,173 to $2,186 due to rising mortgage rates during the month. Edward Seiler, MBA’s associate vice president, Housing Economics, and executive director, Research Institute for Housing … [Read more...]

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell slightly week-over-week. Rates were down from the week before for 30-year fixed-rate loans with both conforming and jumbo balances. Loans backed by the Federal Housing Administration and 15-year fixed-rate loans saw little change week-over-week. But while rates were mostly down, they remain within the same narrow range they’ve now been in since April. Joel Kan, MBA’s vice president and deputy chief economist, … [Read more...]

Among all generations, millennials were the most likely to say they plan to buy a house in the next six months, according to the results of a new survey from the National Association of Realtors’ consumer website. The survey found 23 percent of Millennials intend to buy this year. That’s up from just 15 percent last September. Laura Eddy, the website’s vice president of research and insights, says Millennial interest has increased but mortgage rates are still a factor. “Despite current market challenges and … [Read more...]

There are 1.4 million vacant residential properties in the United States. That’s about 1.3 percent of all homes. It’s also about the same number of vacant homes as there have been for the past 13 straight quarters, according to new data from ATTOM Data Solutions. ATTOM’s 2025 Vacant Property and Zombie Foreclosure Report shows the vacancy rate has been steady now for more than three years. Rob Barber, ATTOM’s CEO, says that’s good news for just about everybody. “Thankfully, we’re not seeing a lot of homes sitting … [Read more...]

The National Association of Realtors’ Pending Home Sales Index tracks the number of contracts to buy homes signed each month. Contract signings are considered a forward-looking indicator of future home sales because a home’s sale isn’t typically finalized until several weeks after the contract to buy is signed. That means any increase or decrease in the NAR’s Pending Home Sales Index is likely to show up in future existing-home sales data. In April, the index found signings down 6.3 percent from March. Lawrence … [Read more...]

Spring is the housing market’s busiest season. Winter is over, buyers are active, and the timing is right to make a move. Naturally, the increased activity typically leads to a bump in home prices. This year was no different. But while prices benefited from the typical seasonal pattern, they’re still slowing, according to new data from the S&P Case-Shiller Home Price Indices. The index – considered among the leading measures of U.S. home prices – found national home prices up just 3.4 percent year-over-year. … [Read more...]

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates moved higher last week from one week earlier. It was the third consecutive weekly increase. Rates were up across most loan categories, including 30-year fixed-rate loans with conforming balances, loans backed by the Federal Housing Administration, 15-year fixed-rate loans, and 5/1 ARMs. Joel Kan, MBA’s vice president and deputy chief economist, says rates are now as high as they were in January. “Mortgage rates … [Read more...]

During the pandemic, when people were spending more time at home, certain home features saw their popularity surge. Home shoppers wanted more space, privacy, bonus rooms, and anything that could make their home more functional, comfortable, and enjoyable. Hannah Jones, senior economic researcher for the National Association of Realtors’ consumer website, says pools were one of the most highly coveted features. “This surge in demand for features like pools translated into a substantial ‘pool premium,’ where homes … [Read more...]