Tag #Us Housing Market

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cnbc.com

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Dec 31, 19:10

Four Major U.S. Cities Buck Trend, See Home Price Declines in 2024

In November 2024, four major U.S. cities—Austin, Tampa, San Antonio, and Fort Lauderdale—experienced home price declines ranging from -1.6% to -3.7%, contrasting with a national average increase of 5.4%, due to increased housing supply, slower migration, and high levels of unsold homes.

Four Major U.S. Cities Buck Trend, See Home Price Declines in 2024

In November 2024, four major U.S. cities—Austin, Tampa, San Antonio, and Fort Lauderdale—experienced home price declines ranging from -1.6% to -3.7%, contrasting with a national average increase of 5.4%, due to increased housing supply, slower migration, and high levels of unsold homes.

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Sustainable Cities and Communities

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What factors caused home price declines in some major U.S. cities in 2024, despite national trends?

Despite high borrowing costs, home prices in most major U.S. cities climbed in 2024. However, four major cities saw year-over-year price declines by November 2024, according to Redfin: Austin (-3.7%), Tampa (-3.5%), San Antonio (-3.0%), and Fort Lauderdale (-1.6%). These declines, particularly Austin's, represent a sharp reversal from pandemic-era growth.

cnn.com

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Dec 20, 16:12

US Housing Market: Job Growth and Inventory to Drive 2025 Recovery

Despite high mortgage rates, America's housing market anticipates a 2025 boost from robust job growth and increased housing inventory, with the South and West projected for faster growth.

US Housing Market: Job Growth and Inventory to Drive 2025 Recovery

Despite high mortgage rates, America's housing market anticipates a 2025 boost from robust job growth and increased housing inventory, with the South and West projected for faster growth.

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Reduced Inequality

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What are the potential risks or limitations to the projected housing market recovery in 2025?

While high mortgage rates persist, their impact might be offset by the positive influence of a strong job market and increased housing supply. However, the Federal Reserve's reluctance to quickly lower borrowing costs could potentially moderate construction growth and thus inventory increase. The Southern and Western regions are projected to experience faster growth due to favorable conditions.

theglobeandmail.com

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Dec 30, 19:07

U.S. Pending Home Sales Surge 2.2% in November

U.S. pending home sales rose 2.2% in November to 79.0 on the NAR's Pending Home Sales Index, exceeding expectations and marking four months of gains due to increased inventory and adjusted buyer expectations of mortgage rates despite rates being above 6% for two years.

U.S. Pending Home Sales Surge 2.2% in November

U.S. pending home sales rose 2.2% in November to 79.0 on the NAR's Pending Home Sales Index, exceeding expectations and marking four months of gains due to increased inventory and adjusted buyer expectations of mortgage rates despite rates being above 6% for two years.

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How are increased home inventory and persistent high mortgage rates influencing buyer behavior and market negotiations?

The November rise in pending home sales, coupled with a second consecutive increase in existing home sales, indicates a shift in the housing market. Increased inventory, up nearly 18% year-over-year, is enabling buyers to negotiate better terms despite high mortgage rates, which have averaged above 6% for two years. This suggests that buyers are adapting to the current market conditions rather than waiting for lower rates.

Showing 13 to 15 of 15 results