Home Buyers on Budget Stand to Lose Big as Mortgage Rates Rise

Should mortgage interest rates go higher—and the Mortgage Bankers Association predicts they will hit 4% by the end of the year—home buyers on a fixed budget stand to lose some economic power, said Redfin, Seattle.

Home Price Appreciation Marches On, Unabated

Reports from Fitch Ratings, New York, and Redfin, Seattle, confirm other industry reports showing while U.S. home price growth appears to be slowing, market conditions portend a very competitive housing environment in 2022.

By the Numbers: 10 Housing Records Set in 2021

The coronavirus pandemic and the resulting surge in remote work have changed where, when, why and how people buy homes, reported Redfin, Seattle, resulting in nearly a dozen housing market records in the past year.

Inventories Persist at Record Lows

Homes for sale fell to another record low during the week ending November 28, said Redfin, Seattle. Sustained demand pushed the median home price to another record high, and one-third of homes sold in one week or less.

Apartment Rents Up 13% Year Over Year

Apartment rents increased nearly 13 percent nationwide over the past year–the highest rate in at least two years–but growth slowed slightly in October, reports from Redfin and RealPage said.

Housing Market Roundup Nov. 30, 2021

RE/MAX, Denver, said October home sales fell by 6.4 percent from September—nearly double the typical seasonal decline—pinched between a steep median sales price of $336,000 and record low inventory.