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Category: This Week In Real Estate

    This Week In Real Estate – Jan. 22, 2023

    By Mitch Darby | January 22, 2023

    Homebuilder Confidence Rises. The National Association of Home Builders/Wells Fargo Housing Market Index was released, this week in real estate, and homebuilder confidence unexpectedly rose in January for the first time in 12 months. Both builders and consumers are likely responding to the recent drop in mortgage rates. The average interest rate on the 30-year... Read More

    This Week In Real Estate – Jan. 15, 2023

    By Mitch Darby | January 15, 2023

    Decelerating Inflation Fuels Hope Of Lower Interest Rates. The U.S. Bureau of Labor Statistics released the December Consumer Price Index (CPI), this week in real estate, reporting the largest month-over-month decrease since April 2020. The CPI has had the most significant impact on the bond market and mortgage interest rates over the past year as... Read More

    This Week In Real Estate – Jan 8, 2023

    By Mitch Darby | January 8, 2023

    Consumer Confidence Is On The Rise. Consumer optimism ended the year on an upward trajectory. The Conference Board reported, this week in real estate, that consumer confidence in December rose to its highest level in eight months. According to CoreLogic’s monthly Home Price Index, year-over-year home price growth increased for the 130th straight month in... Read More

    This Week In Real Estate – Jan. 1, 2023

    By Mitch Darby | January 1, 2023

    Expectations For 2023. As 2022 came to a close and we ring in the new year this week in real estate, the predictions and expectations for 2023 from pundits were plentiful. The safest forecast is the market/economy will be determined by what happens with inflation. Below are a few newsworthy events from the final week... Read More

    This Week In Real Estate – Dec. 25, 2022

    By Mitch Darby | December 26, 2022

    Home Sales Exceed Expectations As Rates Continue To Drop. The Commerce Department reported, this week in real estate, that new home sales exceeded expectations in November, rising 5.8% over prior month, while existing home sales slid 7.7% from prior month. Total housing inventory was down 6.6% at the end of November compared to October while... Read More

    This Week In Real Estate – Dec. 19, 2022

    By Mitch Darby | December 19, 2022

    Mortgage Demand Increases As Interest Rates Decrease. The National Association of Realtors Chief Economist, Lawrence Yun, presented his 2023 forecast, this week in real estate, during NAR’s fourth annual year-end Real Estate Forecast Summit calling for 4.78 million existing home sales and stable home prices. The forecasted number of existing home sales returns to the... Read More

    This Week In Real Estate – Dec. 11, 2022

    By Mitch Darby | December 11, 2022

    Housing Affordability Increases. CoreLogic released its Q3 2022 Homeowner Equity Report, this week in real estate, which shows homeowners with a mortgage realized year-over-year equity growth of 15.8% or $2.2 trillion gain since the third quarter of 2021. That is an average of $34,300 per borrower. Freddie Mac reports that mortgage rates have declined four... Read More

    This Week In Real Estate – Dec. 4, 2022

    By Mitch Darby | December 5, 2022

    Mortgage Rates Continue To Decrease Away From 7% Threshold. The Bureau of Labor Statistics released the November jobs report, this week in real estate, that far exceeded economists’ expectations. For nearly nine months, the Federal Reserve has relentlessly raised its benchmark interest rate in an effort to slow the U.S. job market and bring inflation... Read More

    This Week In Real Estate – Nov. 27, 2022

    By Mitch Darby | November 28, 2022

    Mortgage Purchase Applications Rise Amid Falling Rates. The Mortgage Bankers Association reported, this week in real estate, that purchase applications rose 3% over the prior week marking the second consecutive week of mortgage application growth. That is in line with the decline in rates as they fell for the second week in a row. The... Read More

    This Week In Real Estate – Nov. 20, 2022

    By Mitch Darby | November 20, 2022

    Mortgage Rates Recieve A Historic Drop. The Census Bureau and the Department of Housing and Urban Administration reported, this week in real estate, that both housing starts and permits declined 4.2% and 2.4% in October from September, respectively. They are 8.8% and 10.1% lower than a year ago, respectively. The 30-year fixed-rate mortgage averaged 6.6%... Read More