Last month, bidding wars became less common and homebuyer competition has now dropped to its lowest level since 2020, before COVID-19 sent the national market into upheaval.
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Housing market chills as mortgage rates, prices scare buyers“All of a sudden, your buying power is less … even though your payments are the same.” Rising mortgage rates, combined with high home prices, are discouraging would-be buyers. Mortgage applications and sales of previously occupied homes have declined.
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Gas prices in LA County drop to lowest amount since late AprilThe average price has dropped 65.6 cents over the past 39 days, including 3.2 cents Friday, following an 18-day streak of increases totaling 36.9 cents that pushed prices to record highs, according to figures from the AAA and the Oil Price Information Service.
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America Still Needs More HomesThe biggest problem for the U.S. housing market is that there aren’t enough homes available. The sales slowdown probably won’t do much to alleviate the situation and over time could make it even worse
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Colorado, Utah, Idaho metros had the biggest share of sellers dropping home prices in JunePerspective buyers are less willing to bid over asking price jll americas markets john or even entertain homes that are overpriced due to high mortgage rates and fears of a potential recession.
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Stock market activity 'indicator' of what will happen in real estate market: ExpertThe Campins Company founder Katrina Campins weighed in on the real estate market, noting that the interest rate-sensitive housing market has started to cool noticeably.
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Best Midsize SUVs to Buy in 2022The midsize SUV segment meets the needs of the widest group of buyers, and MotorTrend has reviewed and ranked the best on the market.
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