Housing

January purchases of new homes rose 7.2% to the highest level in 10 months as mortgage rates started to declined, according to Commerce Department data.

Higher mortgage rates have weighed on the U.S. housing market, which posted a $2.3 trillion decline in the second half of 2022, according to Redfin data.

Mortgage applications tumbled more than 18% last week, the biggest monthly drop since 2015, as rates climb higher and home prices remain abnormally high.

Sales of previously owned homes fell 0.7% in January from the prior month due to higher mortgage rates, according to the National Association of Realtors.

Construction of new U.S. homes declined again in January for a fifth straight month as high mortgage rates continue to cool consumer demand for housing.

Builder sentiment in the market for single-family homes climbed in February to the highest level since September as mortgage rates fall from a peak high.

Demand for mortgages dropped from the prior week as worries about higher rates and inflation dented the market.

Housing market activity increased in the past week with the help of mortgage rates falling for a fifth straight week.

The U.S. housing market will likely see further price drops as result of low affordability and growing inventory, according to economist Ian Shepherdson.

The housing market is in the midst of a correction caused by high mortgage rates, with prices declining again in November as consumer demand evaporates.

The housing market is beginning to recover from a recent low as mortgage rates fall from a record high, evidenced by an increase in pending home sales.

The U.S. housing market will likely bottom out by mid-year, according to Goldman Sachs economists, as mortgage rates continue to decline from a peak of 7%.

December purchases of new homes rose 2.3% as mortgage rates began to normalize, offering hope the housing market is recovering from the Fed rate hikes.

Pending home sales climbed 3% in December, evidence the housing market is stirring back to life as mortgage rates continue to fall from a record high.

Sales of previously owned homes fell 1.5% in December from the prior month due to higher mortgage rates, according to the National Association of Realtors.

Alexandria Real Estate's Joel Marcus says vacant office buildings sit in major U.S. cities as a "monumental opportunity" to solve the housing supply crisis.

Home prices rose 8.6% in November, according to new CoreLogic data, the smallest gain in two years as high mortgage rates exclude prospective homebuyers.

Sales of previously owned houses fell in November for the 10th consecutive month as rising interest rates pushed potential homebuyers out of the market.

Rising interest rates and stubbornly high prices are starting to cool the housing market, with new home construction in the U.S. falling again in November.

Builder sentiment in the market for single-family homes fell in December to the lowest level in 10 years as high mortgage rates decimate the housing market.