News

High home prices and rates sent home sellers and buyers to the sidelines in April and the start of May. But last week’s encouraging economic news drove mortgage rates down a bit, which could bring back prospective sellers and house[...]

U.S. homebuyers took out 90,772 mortgages for second homes in 2023, down 40% from a year earlier and down 65% from the height of the pandemic housing boom in 2021. For the sake of comparison, mortgages for primary homes fell at half that rate;[...]

Pending home sales are down and new listings are flat during a time of year when they typically rise. But this week’s softer-than-expected inflation report sent mortgage rates down, which could bring back some homebuyers and[...]

The median-priced U.S. luxury home sold for a record $1,225,000 in the first quarter, up 8.7% from a year earlier. Prices of non-luxury homes rose at roughly half the pace; they were up 4.6% to a median of $345,000, also a record high. This[...]

Inventory is below typical April levels, driving home prices up. Continually rising mortgage rates are further eroding affordability–and this week’s Fed meeting confirmed that mortgage rates are likely to hold steady for the[...]