Pending home sales in November were unchanged compared with October and 5.2% lower than November of last year, according to the National Association of Realtors.The reading, which is based on signed contracts during the month, is a forward-looking indicator of closed sales as well as the most current look...
SAN ANSELMO, CALIFORNIA - NOVEMBER 30: A "sale pending" sign is posted in front of a home for sale on November 30, 2023 in San Anselmo, California. According to a report by the National Association of Realtors, pending home sales fell 1.5 percent in October to their lowest...
An aerial view of existing homes near new homes under construction (UPPER R) in the Chatsworth neighborhood on September 08, 2023 in Los Angeles, California. Mario Tama | Getty ImagesHomeowners looking to refinance are finding savings after mortgage rates dropped again last week.The average contract interest rate for 30-year fixed-rate...
Homes in Hercules, California, US.Bloomberg | Bloomberg | Getty ImagesAfter surging over 8% in October, mortgage rates are falling back toward 7% again, and that is jumpstarting the refinance market.Last week, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to...
Detached houses on a large housing development on the western side of Nashville, Tennessee.Georgeclerk | Istock | Getty ImagesNashville natives say they barely recognize the city's skyline anymore. And they probably won't anytime soon, as cranes still litter the picture.The Nashville building boom is in full effect, despite higher...
A home with a sign indicating that it is under contract to be sold is seen in a neighborhood of downtown Washington.Jim Bourg | ReutersPending home sales, a measure of signed contracts on existing homes, dropped 1.5% in October from September. They hit the lowest level since the National...
A townhouse for sale in the Upper East Side neighborhood of NYC.Adam Jeffery | CNBCHigher mortgage rates appear to be doing very little to cool home prices.Nationally, prices were 3.9% higher in September compared with the same month a year earlier, up from a 2.5% annual gain in August,...
Sales of previously owned homes were 4.1% lower in October compared with September, running at a seasonally adjusted annualized rate of 3.79 million units, according to the National Association of Realtors.It was the slowest sales pace since August 2010. Analysts were expecting a smaller drop, to 3.9 million units....
High mortgage rates continue to weigh on the nation's homebuilders, leading to an increase in price cuts to lure buyers. But builders are cautiously optimistic about recent signs that interest rates may move lower soon.Homebuilder sentiment fell six points to 34 in November on the National Association of Home...
Potential homebuyers attend an open house in Seattle.Mike Kane | Bloomberg | Getty ImagesCurrent homeowners and potential homebuyers are responding to lower mortgage rates, albeit slowly.Mortgage demand rose 2.8% last week, compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. That was the second...