January’s inventory of unsold listings was 1.18 million, up 3.5% from last month and 16.8% from January 2024. Available inventory is equivalent to 3.5 months’ supply at the current monthly rate. Find more insights here:
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Pending home sales posted a bigger-than-expected increase in March, as buyer demand held relatively steady in the face of the 30-year mortgage rate inching toward 7%. #NARPHS
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“Home sales have been stable for several months, neither rising nor falling in any meaningful way,” said Lawrence Yun. “Mortgage rate changes will have a big impact over the short run, while job gains will have a steady, positive impact over the long run.” https://t.co/g6TdsG3tk4
Nationally, housing affordability was flat in July compared to the previous month, according to NAR’s Housing Affordability Index. Compared to June, the monthly mortgage payment increased by 0.5%, while the median home price declined modestly by 0.8%. https://t.co/hZ3OVNrYV0
Instant Reaction: Fed Announcement, September 20, 2023. "The Federal Reserve is rightly on pause and is looking for more data before determining its next course on interest rates." https://t.co/e0jaLB16NZ
Improve safety in your office by adopting a policy for visitors and meetings. For more tips, visit NAR’s REALTOR® Safety Program page. https://t.co/cN17AUTNaT
The median age of first-time homebuyers is now 36, according to the National Association of Realtors, the highest it's ever been since the number started being recorded in 1981. Watch: https://t.co/6j173v6TgN
Compared to one year ago, affordability fell in June as the monthly mortgage payment climbed 12.1% and median family income rose by 4.2%. https://t.co/v6tNmhEFbf
Median home prices rose by 8.5% in Q2 2023 compared to Q1, however, national median prices fell 2.4% year-over-year to $402,600. https://t.co/0Xs3xIZEDM
Instant Reaction: Jobs, August 4, 2023. "More jobs were added in the past month, but more recently, the pace has markedly slowed down." https://t.co/USV7lh1j6Y