Housing

High inflation and rising borrowing costs have proven to be a lethal combination for the housing market, forcing potential buyers to pull back on spending.

Sales of previously owned homes tumbled in August as home ownership became increasingly unaffordable for many prospective buyers thanks to higher mortgage rates.

The Federal Reserve's fight against inflation and a housing shortage could send mortgage rates soaring above 7%, according to Bank of America economists.

New single-family home purchases surged nearly 29% in August from the previous year, jumping more than expected as homebuyers tried to lock in lower mortgage rates.

Home prices in July climbed 15.8 compared with the same month one year ago, a sign that steeper borrowing costs may be starting to cool the housing market.

The U.S. housing market is in a recession, and prices are likely to plunge 20% over the next year as rising mortgage rates take their toll on consumer demand.

Home and rent prices are soaring across the U.S. after years of high demand and low inventory, and one expert points to local governments as the cause.

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

Rising interest rates and expensive building supplies are starting to cool the housing market, but construction of new U.S. homes unexpectedly climbed in August.

Goldman Sachs economists say the US central bank will raise interest rates four more times between now and 2023, keeping rates high until 2024. The two-day FOMC meeting starts Tuesday.

National Association of Home Builders CEO Jerry Howard argued the housing market is in recession and will continue to decline right up to the midterm elections.

Builder sentiment in the market for single-family homes tumbled in September to the lowest level in two years, indicating the housing market is officially in a recession.

The housing market is looking up for both buyers and sellers, real estate experts said. Homes are selling for lower prices, but high mortgage rates are still impacting affordability.

Lumber suppliers stopped taking orders during the COVID-19 pandemic. That caused supply to drop and prices to skyrocket. Now, distributors are struggling to meet rising demand.

Housing sector activity will likely slow sharply in coming months, according to Goldman Sachs economists, with price growth eventually falling to zero.

The Federal Reserve likely triggered a recession in the housing market with its interest rate hike campaign as rising borrowing costs price out first-time buyers.

Mortgage buyer Freddie Mac said the average rate on the 30-year loan rose to the highest level in two months amid renewed fears of an aggressive Federal Reserve.

Bank of America announced this week that it is starting a mortgage option for first-time home buyers offering no down payments, closing costs or minimum credit scores.

WalletHub published a report on the best real estate markets of 2022, based on 17 metrics in two categories: “real estate market” and “affordability and economic environment.”

Home prices in June climbed 18.6% compared with the same month one year ago, a sign that steeper borrowing costs may be starting to cool the housing market.