Inflation is calmer, thereby setting the Fed Reserve up to start the rate-cutting process in September. Consumer prices rose by 2.9% in July and look to head towards the desired 2% in a few months. The Fed has indicated the need to normalize and move away from the current “restrictive” monetary poli

The National Association of REALTORS® reported that home prices continued to rise in the second quarter of 2024. National median prices rose 4.9% year over year to $422,100, and median home prices rose by 8.5% compared to the previous quarter. Of the 223 metro areas, 13% had double-digit year-over-y

At the national level, housing affordability fell modestly in June compared to the previous month, according to NAR’s Housing Affordability Index. The monthly mortgage payment increased by 1.0% compared to the prior month, while the median price of single-family homes increased by 2.4%. The monthly

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Key Highlights Single-family existing-home sales prices rose in 89% of measured metro areas – 199 of 223 – in the second quarter, down from 93% in the previous quarter. The national median single-family existing-home price rose 4.9% from a year ago to $422,100. Twenty-nine markets (13%) experienced

On this International Cat Day, we celebrate pet owners. Did you know there are more households with pets than children? These beloved pets are a driver of a major facet of economic activity: home buying. About one-fifth of recent home buyers considered their pet in their neighborhood choice—a share

Facts: The 30-year fixed mortgage rate from Freddie Mac dropped to 6.47% this week, compared to 6.73% last week. At 6.47%, with 20% down, a monthly mortgage payment on a home with a price of $400,000 is $2,016. Compared to October 2023, when rates were 7.79%, this is a monthly payment difference of

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On July 31, 2024, NAR held a virtual webinar that provided findings from the 2024 International Transactions in U.S. Residential Real Estate report, and discussed how REALTORS® are unlocking global opportunities in the residential real estate market. The speakers were Stephanie Aker, manager of NAR

Mortgage rates are plunging on the news of weak job growth and rising unemployment. The 4.3% unemployment rate is the highest since coming out of the COVID lockdown and higher than the 3.5% unemployment rate right before the COVID-19 arrival. The hourly wage gain of 3.2% is the weakest in 3 years. T

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Key Highlights Pending home sales intensified 4.8% in June. Month over month, contract signings increased in all four U.S. regions. Compared to one year ago, pending home sales declined in the Northeast, Midwest and South, but improved in the West. " data-src="https://www.nar.realtor/sites/default/f

Facts: The 30-year fixed mortgage rate from Freddie Mac was nearly unchanged at 6.78% this week vs 6.77% last week. At 6.78%, with 20% down, a monthly mortgage payment on the median priced existing home of $426,900 is $2,222; with 10% down, it is $2,500. Positive: Also out today: GDP was stronger th

According to NAR's Housing Affordability Index, housing affordability declined nationally in May compared to the previous month. The monthly mortgage payment increased by 3.9%, while the median price of single-family homes rose by 5.7% (from $401,500 to $424,500) year-over-year. The monthly mortgage

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On July 22, 2024, from 12:00 – 1:00 p.m. ET, NAR held a virtual economic and real estate summit that provided an outlook on the changing residential real estate market. The speakers were NAR Chief Economist Lawrence Yun and NAR Deputy Chief Economist Jessica Lautz. " data-src="https://cdn.nar.realto

Key Highlights Existing-home sales faded 5.4% in June to a seasonally adjusted annual rate of 3.89 million. Sales also slumped 5.4% from one year ago. The median existing-home sales price bounced 4.1% from June 2023 to $426,900 – the second straight month it reached an all-time high and the twelfth

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Facts: The 30-year fixed mortgage rate from Freddie Mac fell further to 6.77% over the last week from 6.89%. At 6.77%, with 20% down, a monthly mortgage payment on a home of $400,000 is $2,080; with 10% down, it is $2,340. Positive: This is the lowest mortgage rate reported since March 14. This is t