For Potential First-Time Home Buyers, it May Be Memphis or Bust
By
Odeta Kushi on June 26, 2024
As National Homeownership Month comes to a close, it’s important to examine the current challenges facing the housing market. Nationally, housing affordability has declined compared with one year ago, especially for potential first-time home buyers. According to our First Time Home Buyer Outlook Report, the median renter, who can also be ...
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Housing First-Time Homebuyer First-Time Home Buyer Outlook Report Mortgage Rates
Twin Market Dynamics Continue to Stifle Existing-Home Sales
By
Odeta Kushi on June 14, 2024
The housing market is struggling to gain momentum with mortgage rates above their levels from a year ago. Higher rates have a dual impact on sales – pricing out buyers who lose purchasing power and keeping some potential sellers rate-locked in. Our Existing-Home Sales Outlook Report ‘nowcasts’ existing-home sales based on the historical ...
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More Homes for Sale Sparks Uptick in Housing Market Activity
By
Odeta Kushi on May 20, 2024
In the housing market, the seller and the buyer are, in many cases, the same. To buy a new home, you must sell the home you already own. For several years, a persistent and historic lack of supply has restrained the housing market, but a recent uptick in inventory is poised to boost sales activity as the spring home-buying season peaks. Our ...
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Sales Activity Driven by the Five Ds Amid Persistent Market Headwinds
By
Odeta Kushi on April 10, 2024
Our Existing-Home Sales Outlook Report ‘nowcasts’ existing-home sales based on the historical relationship between sales, demographic trends, house-buying power, and the prevailing financial and economic conditions. Based on our nowcast, we expect March existing-home sales to rise 1.7 percent compared with February, but remain approximately 16 ...
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Interest Rates Federal Reserve Mortgage Rates Existing-Home Sales
New Existing-Home Sales Outlook Report Projects February Uptick in Sales, Despite Rising Mortgage Rates
By
Mark Fleming on March 13, 2024
On average, nearly 40 percent of all existing-home sales in a year occur during the spring home-buying season between April and June. The warming weather and the end of the academic school year make for a more optimal time to move and fuel the seasonal increase in housing market activity. In the spring of 2023, home sales were lackluster. Housing ...
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Interest Rates Federal Reserve Potential Home Sales Mortgage Rates
Will Falling Mortgage Rates Spark an Existing-Home Sales Rush to Close 2023?
By
Mark Fleming on December 18, 2023
In the month of October, existing-home sales hit the lowest level since 2010 as a result of the higher mortgage rate environment. Rising mortgage rates reduce affordability, all else held equal, for buyers and strengthen the rate lock-in effect for potential sellers. However, mortgage rates declined in November, igniting cautious optimism in the ...
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