Prospective homebuyers had “more choice” in Canada’s housing market in August as a rise in new listings met a slowdown in activity, according to the national real estate association. Home sales fell 4.1 per cent between July and August, the Canadian Real Estate Association (CREA) said Friday. Slowdowns in the Greater Vancouver Area, the Fraser …
UPDATE Sep 12, 2023 12:44 PM CDT The iconic home featured in the beloved TV show, the Brady Bunch, has been sold for $3.2 million. According to the Wall Street Journal, Tina Trahan, a fan of the show, purchased the Los Angeles-area property from HGTV for a price below the initial asking …
Many Americans are experiencing a paper-rich situation with their homes. Thanks to the continuous rise in housing prices, homeowners now have nearly $30 trillion in home equity, almost reaching the peak recorded in 2022, according to the St. Louis Federal Reserve . This means that each homeowner has an average of $200,000 in equity that …
After reaching a low of less than 3% in January 2021, the average rate for a 30-year fixed-rate mortgage has now risen above 7%. This increase is deterring many homeowners from considering selling their homes. At the current rates, most homeowners would have to finance a new home at a higher rate than their existing …
The price tag of $1 for this property in Pontiac, MI is certainly attention-grabbing, but it’s the comically honest description that steals the show. Using humor in real estate listings has proven to be effective, and this one is no exception. The listing agent, Chris Hubel, describes the property as “not just a house—it’s a …
The U.S. real estate investment market is currently managed by real estate investment trusts (REITs) that oversee a staggering $4.5 trillion worth of global real estate assets. These tax-friendly funds are widely offered to retail investors on Wall Street. KKR, a prominent private equity firm, is a major player in the REIT industry. Their real …
House hunters may be in for a surprise when it’s time to secure a home loan. The interest rate on a typical mortgage has reached its highest level since 2000. According to the Mortgage Bankers Association (MBA), the average rate on a conventional 30-year fixed-rate mortgage has jumped to 7.31%, up from 7.16% the previous …
The average long-term mortgage rate has continued to rise, surpassing 7% this week and reaching its highest level since 2001. This is yet another challenge for potential homebuyers, who are already grappling with increasing home prices and a limited supply of properties on the market. According to Freddie Mac, the average rate for a 30-year …
Publicly listed US homebuilders are taking advantage of the current shortage of previously owned homes in the market by raising prices on new construction. This comes after a challenging second half last year, where fears of rising interest rates affecting demand forced them to lower prices and offer incentives to boost sales. However, the shortage …
July saw a significant increase in single-family homebuilding, which is a positive sign considering the scarcity of previously owned houses. However, the potential growth in new construction might be hindered by the rise in mortgage rates, which have reached levels not seen in nearly two decades. The Commerce Department reported a 6.7% surge in single-family …