Quotes from the news wire:
Could we see 5% decline? Sure, but we could also see 5% increase. My forecast has prices declining 2% this year.
Found on CNN 1 year ago
The reason for the increase is that mortgage rates were somewhat lower in January and February and consumers wanted to take advantage of a rate that was around 6.3%, rather than closer to 7%.
Found on CNN 1 year ago
Conscious of changing mortgage rates, home buyers are taking advantage of any rate declines, we’re seeing stronger sales gains in areas where home prices are decreasing and the local economies are adding jobs.
Found on CNN 1 year ago
This is not the bottom for prices, we expect a continuing price correction, but we are not expecting prices to crash.
Found on CNN 1 year ago
An extra bump occurred in the West region because of lower home prices, while gains in the South were due to stronger job growth in that region.
Found on CNN 1 year ago
Buyers responded to better affordability from falling mortgage rates in December and January.
Found on CNN 1 year ago
An annual gain in home sales will not occur until 2024, meanwhile, home prices will be steady in most parts of the country with a minor change in the national median home price.
Found on CNN 1 year ago
A slowdown in home prices is underway and welcomed, particularly as the typical home price has risen 42% in the past three years.
Found on CNN 1 year ago
A few markets may see double-digit price drops, especially some of the more expensive parts of the country, which have also seen weaker employment and higher instances of residents moving to other areas.
Found on CNN 1 year ago
Even with a projected reduction in home sales this year, prices are expected to remain stable in the vast majority of the markets due to extremely limited supply.
Found on CNN 1 year ago
This recent low point in home sales activity is likely over, mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.
Found on CNN 1 year ago
Half of the country may experience small price gains, while the other half may see slight price declines, however, markets in California may be the exception, with San Francisco, for example, likely to register price drops of 10%-15%.
Found on CNN 1 year ago
We're witnessing a housing recession in terms of declining home sales and home building, however, it's not a recession in home prices. Inventory remains tight and prices continue to rise nationally with nearly 40 % of homes still commanding the full list price.
Found on CNN 1 year ago
The ongoing sales decline reflects the impact of the mortgage rate peak of 6 % in early June, home sales may soon stabilize since mortgage rates have fallen to near 5 %, thereby giving an additional boost of purchasing power to home buyers.
Found on CNN 1 year ago
Home prices have increased at a pace that far exceeds wage gains, especially for low - and middle-income workers.
Found on CNN 1 year ago
The local job market performance and supply availability are the clear distinguishing factors driving local home price growth, job growth is positive and should be applauded, but supply restraints are creating unnecessary barriers to ownership opportunities.
Found on CNN 1 year ago
Maybe it is a good thing they were absent when Lawrence Yun real estate was super hot, no one really missed the foreign market, but given the current shift in the market, with more inventory and homes staying on the market, it might begin to pick up as more international travel is possible.
Found on CNN 1 year ago
Travel restrictions were a big factor, buyers want to see the property. Any travel restriction or even Covid test requirement, which was only lifted this summer, that is an inconvenience, or a signal to say' stay away.'.
Found on CNN 1 year ago
The strong dollar may deter some foreigners from buying here in the Lawrence Yun, but many are purchasing in all cash, so the swings in the dollar isn't a deal breaker. They will begin to step up in the next year.
Found on CNN 1 year ago
For residents in these areas, it may feel like foreigners are competing for homes with locals. Sellers, of course, are trying to get the highest possible price independent of who the buyer is, but it can be frustrating for buyers who are outbid.
Found on CNN 1 year ago
Homes may be sitting on the market longer, there will be more properties with price reductions, buyers who do deeper homework may be able to find a home with a price reduction or get a better price negotiation.
Found on CNN 1 year ago
Someone buying the same house today that they wanted to buy last year will see a 50 % increase in their monthly payment, people's incomes do not rise by 50 % in a year. Homebuyers are frustrated. This year, they are in total disbelief that they don't have the money to buy at a 6 % mortgage rate.
Found on CNN 1 year ago
Maybe buyers are trying to take advantage of a lower locked-in rate... They want to sign the contract and close the deal quickly.
Found on CNN 1 year ago
A combination of higher prices and higher mortgage rates clearly has shifted the dynamics in the housing market, even people who want to buy are simply priced out.
Found on CNN 1 year ago
Falling housing affordability continues to take a toll on potential homebuyers, both mortgage rates and home prices have risen too sharply in a short span of time.
Found on CNN 1 year ago
Finally, there are more homes on the market, homes priced right are selling very quickly, but homes priced too high are deterring prospective buyers.
Found on CNN 1 year ago
Mortgages now compared to just a few months ago are costing more money for home buyers, for a median-priced home, the price difference is $ 300 to $ 400 more per month, which is a hefty toll for a working family.
Found on CNN 1 year ago
Housing affordability continues to be a major challenge, as buyers are getting a double whammy : rising mortgage rates and sustained price increases, some who had previously qualified at a 3 % mortgage rate are no longer able to buy at the 4 % rate.
Found on CNN 2 years ago
Middle-income households in these growing markets have seen phenomenal gains in price appreciation, given the rapid migration and robust job growth in these areas, I expect these markets to continue to see impressive price gains.
Found on CNN 2 years ago
Owning a home continues to be a proven method for building long-term wealth, home values generally grow over time, so homeowners begin the wealth-building process as soon as they make a down payment and move to pay down their mortgage.
Found on CNN 2 years ago
These escalating home values were no doubt beneficial to homeowners and home sellers, however, as these markets flourish, middle-income wage earners face increasingly difficult affordability issues and are regrettably being priced out of the home-buying process.
Found on CNN 2 years ago
The inventory of homes on the market remains woefully depleted.
Found on CNN 2 years ago
Buyers were likely anticipating further rate increases and locking in at the low rates, and investors added to overall demand with all-cash offers, consequently, housing prices continue to move solidly higher.
Found on CNN 2 years ago
That is a sizable wealth gain for homeowners across the country, the housing market has seen a spectacular performance this last year with sales rising and prices rising. But inventory is at an all-time low.
Found on CNN 2 years ago
Slowing price growth will partly be the consequence of interest rate hikes by the Federal Reserve.
Found on CNN 2 years ago
We are creating a divided society, people don't feel like they are participating in what they consider to be American life through homeownership. All their work to build up savings can feel less meaningful in the face of rising prices.
Found on CNN 2 years ago
Determined buyers were able to land housing before mortgage rates rise further in the coming months.
Found on CNN 2 years ago
For the third quarter -- and for 2021 as a whole -- home affordability declined for many potential buyers.
Found on CNN 2 years ago
Home prices are continuing to move upward, but the rate at which they ascended slowed in the third quarter.
Found on CNN 2 years ago
First-time buyers are hit particularly hard by the historically high home prices as they largely do not have the savings required to buy a home or equity to offset such a purchase.
Found on CNN 2 years ago
Some improvement in supply during prior months helped nudge up sales in September, housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.
Found on CNN 2 years ago
Sales slipped a bit in August as prices rose nationwide, potential buyers are out and about searching, but much more measured about their financial limits, and simply waiting for more inventory.
Found on CNN 2 years ago
The housing sector is clearly settling down, home sales are trying to return to a normal equilibrium after that big surge we saw last year.
Found on CNN 2 years ago
Securing a home is still a major challenge for many prospective buyers, a number of potential buyers have merely paused their search, but their desire and need for a home remain.
Found on CNN 2 years ago
High home prices make for an unbalanced market, but prices would normalize with more supply.
Found on CNN 2 years ago
The market may be starting to cool slightly, but at the moment there is not enough supply to match the demand from would-be buyers, inventory is slowly increasing and home shoppers should begin to see more options in the coming months.
Found on Reuters 2 years ago
Homes listed for sale are still garnering great interest, but the multiple, frenzied offers – sometimes double-digit bids on one property – have dissipated in most regions, even in a somewhat calmer market, a number of potential buyers are still choosing to waive appraisals and inspections.
Found on Reuters 2 years ago
There has been a turn in the market from super heated to still very strong.
Found on CNN 2 years ago
We see inventory beginning to tick up, which will lessen the intensity of multiple offers, much of the home sales growth is still occurring in the upper-end markets, while the mid - to lower-tier areas aren't seeing as much growth because there are still too few starter homes available.
Found on CNN 2 years ago
Huge wealth gains from both housing equity and the stock market have nudged up all-cash transactions, but first-time buyers who need mortgage financing are being uniquely challenged with record-high home prices and low inventory, although rates are favorably low, these hurdles have been overwhelming to some potential buyers.
Found on CNN 2 years ago
At a broad level, home prices are in no danger of a decline due to tight inventory conditions, but I do expect prices to appreciate at a slower pace by the end of the year, ideally, the costs for a home would rise roughly in line with income growth, which is likely to happen in 2022 as more listings and new construction become available.
Found on CNN 2 years ago
Supply has modestly improved in recent months due to more housing starts and existing homeowners listing their homes, all of which has resulted in an uptick in sales, home sales continue to run at a pace above the rate seen before the pandemic.
Found on CNN 2 years ago
This is very unusual very unusual that this is persisting over several months, and it may be for the remainder of the year.
Found on CNN 2 years ago
The market's outlook is encouraging, supply is expected to improve, which will give buyers more options and help tamp down record-high asking prices for existing homes.
Found on CNN 2 years ago
Home sales fell moderately in May and are now approaching pre-pandemic activity, lack of inventory continues to be the overwhelming factor holding back home sales, but falling affordability is simply squeezing some first-time buyers out of the market.
Found on CNN 2 years ago
First-time buyers in particular are having trouble securing that first home for a multitude of reasons, including not enough affordable properties, competition with cash buyers and properties leaving the market at such a rapid pace.
Found on CNN 2 years ago
These higher home prices underscore the importance of stepping up housing supply, an increase of inventory would combat the affordability problem.
Found on CNN 2 years ago
The sudden price appreciation is impacting affordability, especially among first-time home buyers, with low inventory already impacting the market, added skyrocketing costs have left many families facing the reality of being priced out entirely.
Found on CNN 2 years ago
Significant price increases throughout the country simply illustrate strong demand and record-low housing supply, the record-high home prices are happening across nearly all markets, big and small, even in those metros that have long been considered off-the-radar in prior years for many home seekers.
Found on CNN 2 years ago
Normally with any product when demand rises, production will catch up, that has not been happening.
Found on CNN 3 years ago
The sales for March would have been measurably higher had there been more inventory, what our brokers and realtors are saying when I pose the question' If you had 20 % more inventory, would you have 20 % more sales ? ,' The answer is' yes, yes, yes,'.
Found on CNN 3 years ago
As home prices increase, both too quickly and too significantly, first-time buyers will increasingly face difficulty in coming up with a down payment, transforming raw land into developable lots and new supply are clearly needed to help tame the home price growth.
Found on CNN 3 years ago
Favorable mortgage rates will continue to bring fresh buyers to the market, however, the affordability situation will not improve even with low interest rates because housing prices are increasing much too fast.
Found on CNN 3 years ago
Home prices are rising too fast from insufficient supply and rising demand.
Found on CNN 3 years ago
There is no shortage of hopeful, potential buyers, but inventory is historically low, to their credit, we have seen some homebuilders move to ramp up supply, but a need for even more production still exists.
Found on CNN 3 years ago
Hesitant home buyers will be enticed to take advantage of low interest rates.
Found on CNN 4 years ago
The coronavirus has quickly upended global economic expansion and introduced the significant uncertainty of a possible recession, today's interest rate cut is an appropriate response to changing events.
Found on CNN 4 years ago
We have very low unemployment, and home builders have a hard time finding skilled construction workers.
Found on CNN 4 years ago
Either a strong pent-up demand will show in the upcoming months, or there is a lack of confidence that is keeping buyers from major expenditure.
Found on CNN 4 years ago
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