Rising Mortgages Rates a Worldwide Issue
It’s not just the U.S. raising interest rates. Most world countries are also trying to ward off a recession, and home prices in a few areas have even started to decline.
HUD Proposes Manufactured Housing Updates
HUD views manufactured housing as one relief valve for the affordable housing crisis, and its proposed construction rules are the biggest change in 20 years.
Affordable Housing: NAHB Lists Top Problems
In testimony to Congress, builders backed a new tax incentive but said they also need lower lumber tariffs, fewer regulations and help with their labor shortage.
NAR: Existing-Home Sales Slid 5.4% in June
Sales fell for the 5th month in a row as prices rose 13.4%. NAR economist says homes priced right sell quickly, but ones priced too high now “deter prospective buyers.”
Fla.’s June, 2Q Home Sales: Listings and Prices Up
Florida Realtors: Fla.’s single-family median price up 19.7% to $420K. Condo median price up 26.4% to nearly $325K. Inventory rising as new listings increase.
Mortgage Rate Forecast: Volatility – but Going Up
What will happen to mortgage rates next week? No one knows. What will happen over the next year? Likely lots of ups and downs but, ultimately, higher average rates.
June’s Single-Family Housing Starts Drop 8.1%
Total housing starts fell 2.0% in June. Weakness in the single-family sector was partially lessened by a 10.3% rise in the multifamily sector.
Report Card: Real Estate Investment Trusts (REITs)
REITs, which trade real estate similar to the way stocks trade business ownership, largely fell in value in June, though the decline level varied by commercial sector.
Advice for Renters Priced Out of Home Buying
For many homebuyers, their ownership goal seems to be kicked farther down the field with every price increase and mortgage rate rise.
Analysis: Hot RE Markets Have Highest Inflation
Inflation affects home prices – and home prices affect inflation. Metros with more departing residents – San Francisco, New York, etc. – have the lowest inflation rates.