For homes to become more affordable, home prices would need to drop by 28% with current mortgage rates of 6%, Zhao calculated. That’s a drop of about $121,000. But that’s not about to happen anytime soon, Zhao said. A correction of that magnitude is unl...
in first quarter of 2008. The Standard & Poor's/Case-Shiller index showed that prices for existing homes fell by 14.1%, compared with a year-to-year-drop of 8.9% in the 4th quarter. According to the article, the steepest declines came in cities that had endured the sharpest run-ups, ...
In December, the average month-on-month decline in new home prices across these cities reached 0.45%, with a steeper drop compared to the previous month. On a year-on-year basis, the decline in December was 0.89%, marking 21 consecutive months of year-on-year contraction. The prolonged ma...
BEIJING, January 18 (TMTPOST)— New home prices in 62 cities of 70 major cities in China registered a month-on-month drop while existing home prices declined in all 70 cities in December, according to the data for 70 major cities relased by the National Bureau of Statistics (NBS) on Wed...
much in the way of job losses, which has kept the foreclosure rate relatively low. A pickup in job losses would not only cause US consumers to lose confidence and put off home purchases, it would also cause distressed sales and foreclosures to rise, putting downward pressure on...
Frustrated about inflation and housing affordability, voters are hoping the Trump administration can bring down home prices. Geoff WilliamsDec. 3, 2024 8 Things to Do When Moving to a New Home Follow this checklist to ensure your new home is truly yours and set yourself up for homeowne...
In October, home prices continued to slip, and the declines were very widespread. The Case-Schiller Composite 10 City index (C-10) fell 0.93% on a seasonally adjusted basis and is up just 0.20% from a year ago. The broader Composite 20 City index (which
HOME PRICES ARE FINALLY STARTING TO FALL – AND THEY DROPPED THE MOST IN THESE 3 CITIES A "Home for Sale" sign in the Capitol Hill neighborhood of Washington, DC, US, on Tuesday, July 30, 2024. Consumers have continued to spend and make major purchases, which is one of the key...
Updated on: June 11, 2024 / 11:16 AM EDT / CBS News Soaring prices for homeowners insurance, property taxes and utility bills are adding thousands of dollars to the cost of owning a home. The increases come at a time of record-high real estate prices and elevated mortgages and closing ...
MINNEAPOLIS —Are you in the market to buy home? With interest rates expected to drop and new construction expected to rise 2024 may be your year. "There was a collective pause, a big breath. It had been a really frenzied market for a few years," said Mike Smith, owner of A...