The housing market has experienced a significant slowdown, with sales of previously owned homes dropping by 5.4% in June compared to May. This decline resulted in 3.89 million units sold on a seasonally adjusted, annualized basis. Sales were also 5.4% lower than the same month last year, marking the slowest sales pace since December. Lawrence
Real Estate
Many renters may not realize that they are actually in a position to afford a home. In 2022, a study by Zillow revealed that about 39% of households in the U.S. were not homeowners. However, approximately 7.9 million of these households were deemed “income mortgage-ready,” meaning their income-to-mortgage ratio would have been 30% or less
In the United States, housing is the most significant expense for consumers. However, many individuals face challenges when trying to save for a home due to high rents and home prices. Access to affordable credit is another major impediment for potential homebuyers. According to a 2022 fact sheet from the Office of the Comptroller of
The recent drop in mortgage rates to the lowest level since March has caused a significant surge in refinancing applications. According to data from the Mortgage Bankers Association, applications to refinance a home loan saw a 15% increase last week compared to the previous week. This spike in demand brings refinancing activity to the highest
While Delaware may be a small state, it offers a big boost when it comes to the affordability of housing. With one of the lowest property tax rates in the country, Delaware homeowners can enjoy a more affordable living situation compared to other states. This makes it an attractive option for prospective homebuyers looking to
The recent signs of inflation easing have raised the possibility of the Federal Reserve initiating interest rate cuts in the near future. The consumer price index experienced a drop in June, marking the first decline in over four years, according to data from the Labor Department. This shift in inflation trends has prompted analysts like
The housing market has seen significant changes in recent years, with surging mortgage rates playing a key role in shaping the landscape. While the 30-year fixed-rate mortgage has hovered around 7%, it is still higher than the sub-3% rates that were prevalent during the early days of the pandemic. This increase in borrowing costs has
China’s real estate sector may be facing significant challenges, but experts believe that the upcoming Third Plenum will prioritize issues such as high local government debt levels and the promotion of advanced manufacturing. Scheduled to take place over four days, this plenum is a key gathering of the top members of the ruling Communist Party
Generation Z faces significant barriers to homeownership, with about 1 in 5 Gen Zers citing the lack of affordable starter homes as a major obstacle. In response to this challenge, many Gen Zers are turning to fixer-upper homes as a potential solution. These homes, which require varying degrees of maintenance work and are typically offered
The latest data on inflation trends indicates that inflation fell further in June as compared to May, thanks to lower gasoline prices and easing price pressures across various sectors of the economy. The consumer price index, which rose 3% in June from a year ago, is a key indicator of inflation and is used to