Elevated mortgage rates keep buyers and sellers on the sidelines Based on new data from the California Association of Realtors, California home sales were essentially flat in October 2023, as the cost of borrowing remained elevated and housing inventory continued to be tight. Closed escrow sales of existing, single-family detached homes in California totaled a…
In today’s real estate market, with high mortgage interest rates and hesitant buyers, you might be pondering, “Is my mortgage assumable?” as a strategy to accelerate your home sale. Or, you might want to allow a family member to assume your mortgage so they can inherit a financial advantage through your low-interest-rate home loan. If…
If you recently bought a house and now realize that you need to sell it, don’t panic. While there are financial implications of selling a house soon after buying it, certain circumstances and life changes may make selling quickly a necessity and leave you wondering, “How soon can I sell my home after purchasing it?”…
Dealing with the real estate market in Los Angeles can feel impossible, especially when selling your current home while purchasing a new one. It’s an incredibly common scenario, and you might think your only option is to sell your home, temporarily relocate, and then wade through L.A.’s cutthroat real estate market to find your dream…
According to AAA, two months following the devastating wildfires in Maui, most of West Maui will begin to reopen to visitors on Sunday, October 8, 2023. The tragic wildfires killed 97 people and destroyed much of the historic town of Lahaina. The loss of life, property, cultural and historic sights, and livelihoods has led to…
According to the Mortgage Bankers Association’s latest Weekly Mortgage Applications Survey for the week ending September 29, 2023, U.S. mortgage applications decreased 6.0 percent from one week earlier. The Market Composite Index, a measure of mortgage loan application volume, decreased 6.0 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis,…
According to a new Redfin-commissioned survey, nearly two-thirds of recent U.S. homebuyers (59%) think purchasing a house is more stressful than dating. Daryl Fairweather “Getting ghosted by your date is stressful, but purchasing a home in today’s market comes with its own unique set of anxieties,” said Redfin Chief Economist Daryl Fairweather. “Buyers are increasingly…
Yet home and condo prices hold steady last month Las Vegas Realtors are reporting this week that prices for local Southern Nevada homes and condos are holding steady, matching prices from one year ago. LVR reported that the median price of existing single-family homes sold in Southern Nevada through its Multiple Listing Service (MLS) during September…
According to Knight Frank’s latest Global House Price Index, global house price growth ticked up to 3% in Q2 of 2023, up from 2.9% in the previous quarter. About a third of markets saw prices decline during the most recent three months, narrowing from four in ten over the past year. Liam Bailey Liam Bailey,…
Based on ATTOM’s newly released third-quarter 2023 Vacant Property and Zombie Foreclosure Report, 1.3 million (1,277,612) residential properties in the United States are vacant. That figure represents 1.3 percent, or one in 79 homes, across the nation – the same as in the second quarter of this year. The report also reveals that 315,425 residential…
Slowdown forcing Hong Kong developers to reduce prices or delay projects According to JLL’s latest Hong Kong Residential Market Monitor released this week, amongst Hong Kong projects completed in the first half of 2023, only 55% of units were sold as of the end of June 2023, lower than the average sell-through rate of 78%…
According to the Orlando Regional Realtor Association, overall residential sales fell 8.7% from June to July 2023. There were 2,852 sales in July, down from 3,124 sales in June. Sales in July 2023 were also 13.8% lower than July 2022, when there were 3,309 sales. ORRA also reports housing inventory for July was recorded at…