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Housing Market Update: A Homebuyer on a $3,000 Budget Has Lost $71,000 in Purchasing Power Since Last Year As Mortgage Rates Hit 20-Year High

Housing Market Update: A Homebuyer on a $3,000 Budget Has Lost $71,000 in Purchasing Power Since Last Year As Mortgage Rates Hit 20-Year High

Daily average mortgage rates are sitting at 7.4%, close to their highest level in more than two decades. High rates, combined with high home prices, have pushed home-purchase applications to their lowest level since 1995. Historically[...]
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1 in 8 San Francisco Home Sellers Is Losing Money—the Highest Share in the Nation

1 in 8 San Francisco Home Sellers Is Losing Money—the Highest Share in the Nation

Roughly one of every eight (12.3%) homes that sold in San Francisco during the three months ending July 31 was purchased for less than the seller bought it for, up from 5% a year earlier. That’s a higher share than any other major U.S. metro[...]
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Real Estate Investors Pull Back, Buying 45% Fewer Homes Than a Year Ago

Real Estate Investors Pull Back, Buying 45% Fewer Homes Than a Year Ago

Investor home purchases fell 45% from a year earlier in the second quarter, outpacing the 31% drop in overall home sales. That’s the biggest decline since 2008 with the exception of the quarter before, when they dropped 48%. The decline[...]
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New Builds Make Up One-Third of Houses on the Market, With High Rates Locking Up Existing Inventory

New Builds Make Up One-Third of Houses on the Market, With High Rates Locking Up Existing Inventory

Homebuyers are turning to newly built single-family homes as overall inventory sits at an all-time low. New homes are most common in El Paso, TX, Omaha, NE and Raleigh, NC, and least common in California and Hawaii. Newly built homes made[...]
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Housing Market Update: Miami Home Prices Up 17% From a Year Ago

Housing Market Update: Miami Home Prices Up 17% From a Year Ago

Nationwide, home prices are up 5% year over year–the biggest increase in 10 months–due to a severe lack of homes for sale. The median home-sale price in Miami rose 17% from a year earlier during the four weeks ending August 27, the[...]
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