Home Prices up 3.4 Percent in June as Supply Flattens

Build RealtyMarket News

The typical home sold in June went under contract in just 35 days, matching last year’s record-fast pace, as falling mortgage rates lured more buyers to the market. U.S. home-sale prices rose for the third consecutive month in June, growing 3.4 percent year over year to a median of $321,200 across the metros Redfin tracks. The growth rate of home … Read More

Supply of Homes for Sale Down 0.3 Percent in June, First Annual Decline in 10 Months

Build RealtyMarket News

Some expensive markets like San Jose, Seattle, and Boston are still seeing big gains in for-sale home inventory, while affordable markets like Oklahoma City, Buffalo, and Memphis are already experiencing big declines. The number of homes for sale nationally fell 0.3 percent year over year in late June—the first annual decline since inventory started climbing in September. This marks the … Read More

Here’s What Homebuyers and Sellers Can Expect if the Fed Lowers Rates

Build RealtyMarket News

Lower mortgage rates tend to push up housing demand and prices. A weakened stock market and looming economic fallout from trade wars have led many to expect that the Fed will lower interest rates this year . If the rate cuts come, and translate to a decline in mortgage rates, homebuying will become marginally more affordable, which is likely to … Read More

U.S. Home Prices Resume Growth, Up 2.8% in April

Build RealtyMarket News

Sales flattened as housing supply rose 3.1%, the smallest year-over-year increase in 7 months U.S. home-sale prices edged up in April, growing 2.8 percent from a year ago, to a median of $307,600 across the metros Redfin tracks. This marks a rebound from March’s slight year-over-year price decline–the first since early 2012–and a return to the around 3 percent growth … Read More