January 2024 National Real Estate News 2023 was the bottom Over the course of 2023, just over 4 million existing homes changed hands. That was 19% below the 5 million sold in 2022 and 33% below the 6.1 million sold in 2021. Affordability and availability continue to be the twin ...
Continue ReadingThe number of homes available for sale (“inventory”) follows a regular, seasonal pattern: lowest in the winter, highest in the summer. Inventory would normally be falling by this time of year – but so far it hasn’t. That’s an encouraging sign for buyers because: 1) more homes = more opportunities, ...
Continue ReadingWhat’s Up with Real Estate? National news and local views for the week ending Friday, November 17, 2023 Inflation elation Both the CPI (Consumer Price Index = inflation for you and me) and the PPI (Producer Price Index = inflation for companies) trended downward more than expected in October. “Headline” CPI ...
Continue ReadingWhat’s Up with Real Estate? National news and local views for the week ending Friday, November 10, 2023 National Real Estate News Further rate relief Treasury bond yields and mortgage rates continued to drift lower, with the average 30-yr mortgage rate dropping below 7.5%. Even though Fed Chairman Jerome Powell very ...
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