New home sales plummeted in April to their lowest since the onset of the pandemic amid a steep rise in mortgage rates and elevated prices. … READ MORE >
Real estate
Chart of the day: U.S. existing home sales fall again as rates rise
Sales of existing homes fell for the third straight month as the housing market continued to cool off amid steep mortgage-rate increases. … READ MORE >
Chart of the day: U.S. housing starts fall amid rising mortgage rates
Housing starts fell by 0.2% on the month to 1.724 million annualized, according to the U.S. Census Bureau. … READ MORE >
Pending home sales fell back to pre-pandemic level amid rising rates
U.S. pending home sales fell 1.2% in March, declining for the fifth month in a row, as demand continued to slow due to high prices and rising mortgage rates. … READ MORE >
Chart of the day: U.S. home prices hit record in March
Sales of existing homes fell by 2.7% to 5.77 million in March, the lowest since July 2020, as rising mortgage rates dampened demand. … READ MORE >
Housing starts moderated in March amid rising rates
Housing starts and permits inched up in March due to a boost from multifamily homes, beating market forecasts of significant declines in both series.
New residential starts rose 0.3% on the month to 1.79 million annualized rate, the highest since 2006. Building permits, an indicator of future starts, climbed 0.4% to an annualized 1.87 million. … READ MORE >
Chart of the day: Pending home sales drop again in February
Pending home sales in February dipped for the fourth straight month as depleted inventory and rising mortgage rates dampened sales. … READ MORE >
The housing market will endure interest rate hikes
While low interest rates have contributed to the increased demand for housing, the factors driving the market go beyond low rates and include a thriving economy, favorable demographics and a limited supply. … READ MORE >
Chart of the day: New home sales drop amid rising rates
New home sales posted the second consecutive month of decline in February as elevated prices and rising mortgage rates deterred buyers. … READ MORE >
Home sales dip in February amid rising prices and mortgage rates
Sales of existing homes dipped 7.2% in February after recording a sharp 6.6% rise in January, the National Association of Realtors reported on Friday. … READ MORE >