Category: News Room

Despite the strong growth in sales since this spring, declining affordability could begin to slowly dampen demand. Some markets reported slower foot traffic in part because of low inventory and concerns about the continued rise in home prices without commensurate income gains. Total housing inventory declined 0.4% to 2.24 million existing homes available for sale, and is now 4.75 lower than a year ago. Unsold inventory is at a 4.8-month supply at the current sales pace, down from 4.9 months the month before. » [read more]

 

Low Inventory Drives Days On Market DownTotal housing inventory inched up 0.9% last month to 2.30 million existing homes available for sale, and is 0.4% higher than a year ago. Unsold inventory is at a 5.0-month supply at the current sales pace, down from 5.1-months in May. Low Inventory Drives Days On Market DownThe percent share of first-time buyers fell to 30% from 32 percent, but remained at or above 30% for the fourth consecutive month. A year ago, first-time buyers represented 28% of all buyers. » [read more]

 

What To Expect For The Second Half Of 2015The housing outlook for the second half of the year is all about affordability - for buying and for renting. How bad will it get, and how much will it hurt the recovery in home sales? Home prices are still rising, but at a slower pace than this time last year. That cannot be said of mortgage rates, which are now on a straight trajectory up.What To Expect For The Second Half Of 2015The short supply of homes for sale shows little sign of improving, which is keeping prices high. At some point, however, higher mortgage rates will hit affordability and could trump that short supply in taking the heat out of home prices. » [read more]