The housing slump is expanding quickly with home price declines the most widespread in 11 years
fluctuate between 6.1% and 6.7%, while the inventory shortage may also have played a role in pricing.
"Generally speaking, home prices are lower in expensive markets and higher in affordable markets, implying greater mortgage rate sensitivity for high-priced homes," said NAR Chief Economist Lawrence Yun. But price declines could be short lived, he added, as inventory remains 40% below pre-COVID levels. Multiple offers are also returning, especially on affordable homes, Yun said.
Meanwhile, 69% of housing markets saw home prices rise in the first quarter, down from 89% in the fourth quarter. Overall, the national median for a single-family home decreased by 0.2%, after having jumped 4% in the fourth quarter.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Community Housing Network builds supportive housing with Touchstone Field PlaceThe Community Housing Network (CHN) unveiled anew, permanent supportive home with Touchstone Field Place.
Weiterlesen »
ig tax cuts for not-so affordable housing draw scrutiny in Houston and the Texas LegislatureBig tax cuts for not-so affordable housing draw scrutiny in Houston and the Texas Legislature
Weiterlesen »
Witnesses describe horrifying crash that left 8 dead outside a Texas shelter housing migrants | CNNAs the death toll from the Texas crash rises to eight, witnesses are describing the horrifying moment a driver plowed into people Sunday near a shelter in Brownsville.
Weiterlesen »
Potential home buyers are more optimistic on housing market for one big reason, Fannie Mae saysThe Fannie Mae Home Purchase Sentiment Index rose in April to the highest level since May 2022.
Weiterlesen »
Witnesses describe Brownsville car crash that left 8 dead outside Texas shelter housing migrants'We have never seen something like this.'
Weiterlesen »
Witnesses describe Brownsville car crash that left 8 dead outside Texas shelter housing migrants'We have never seen something like this.'
Weiterlesen »