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Housing Market Update: Share of Homes with Price Drops Reaches New High as Mortgage Rates Top 2008 Levels

Housing Market Update: Share of Homes with Price Drops Reaches New High as Mortgage Rates Top 2008 Levels

The highest share of sellers on record dropped their list price during the four weeks ending June 12 as mortgage rates shot up to levels not seen since 2008, dwindling the pool of home shoppers.Still, homebuying has never been more[...]
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Rental Market Tracker: Typical U.S. Asking Rent Surpassed $2,000 for First Time in May

Rental Market Tracker: Typical U.S. Asking Rent Surpassed $2,000 for First Time in May

The median monthly asking rent in the U.S. surpassed $2,000 for the first time in May, rising 15% year over year to a record high of $2,002. That’s on par with April’s annual increase of 15%, but a slowdown from March’s 17% gain.“More[...]
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Housing Market Update: For-Sale Listings Accumulate, Post Smallest Annual Decline Since January 2020

Housing Market Update: For-Sale Listings Accumulate, Post Smallest Annual Decline Since January 2020

The number of homes for sale fell 8% during the four weeks ending June 5, the smallest year-over-year decline since January 2020. This was more a reflection of declining homebuyer demand than of more homes being listed for sale. Tours,[...]
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Luxury-Home Sales Sink 18%, the Biggest Decline Since the Start of the Pandemic

Luxury-Home Sales Sink 18%, the Biggest Decline Since the Start of the Pandemic

Sales of luxury U.S. homes fell 17.8% year over year during the three months ending April 30, the largest drop since the onset of the coronavirus pandemic sent shockwaves through the housing market. There are only two instances in the past[...]
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Second-Home Hotspots Saw Outsized Growth in Rental, Home Prices During the Pandemic

Rental and home-sale prices increased more than 25% year over year in April in four of the five most popular second-home destinations: Phoenix, Cape Coral, FL, Naples, FL and Las Vegas. Housing costs soared in second-home hotspots even[...]
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