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2019’s Housing Market Is Prone To Be Stronger Than We Thought—Right Here’s Why

jandrielombard/iStock Despite a real estate slowdown gripping the nation, this year’s housing market is expected to be busier than realtor.com® economists originally predicted late last year. That means more home sales—and higher prices—are on the way. The anticipated uptick in activity is due to lower mortgage rates, which make homes more affordable for buyers. The economic team expected rates to climb to 5.5% in 2019, but instead they have hovered around 4%. (They were 4.17% on 30-year, fixed-rate mortgages as of April 18, according to Freddie Mac data.) Economists say rates are now likely to rise a little to 4.5%, still well below what buyers were dreading. However, it’ll be nothing like the feeding frenzy of recent years. “It’s still going to be a lukewarm year for the housing market,” says Chief Economist Danielle Hale of realtor.com. “We’re going to see higher prices and slightly higher home sales than we expected. But home sales are still going to decline slightly as a result.. Keep Reading

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Financial Institution Department Closures Are Rising, However Various Tenants Might Take Over Vacated Areas

Healthcare clinics and co-working amenities might quickly discover new houses in closed financial institution branches. Financial institution department stock within the U.S. has decreased by about two % every year over the previous two years, in response to actual property providers agency JLL. From 2016 to 2018, 5,700 branches closed throughout the nation, and forecasts… Keep Reading

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U.S. New Residence Gross Sales Rose In March

George Frey/Bloomberg via Getty Images WASHINGTON—Purchases of new homes in the U.S. increased in March, driven by sales gains in most parts of the nation. Purchases of newly built single-family homes—a relatively narrow slice of all U.S. home sales—rose 4.5% to a seasonally adjusted annual rate of 692,000 in March, the Commerce Department said Tuesday. Economists surveyed by The Wall Street Journal had expected a 2.5% decline. Sales were up 3.0% in March from the prior year. The pace of new-home sales remains well below the elevated levels seen before the 2007-09 financial crisis and recession. All U.S. regions but the Northeast saw new-home sales gains last month, with purchases in the South reaching the highest level in more than a decade. In the broader housing market, inventory has been tight, driving a run-up in home prices and keeping some potential buyers out of the market. Meantime, construction-labor shortages and rising input costs are pushing up the overall cost of buyi.. Keep Reading

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