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The housing market is in a state of flux with new and existing home sales on the rise (as of August 2024) but overall home affordability declining, according to the U.S. Department of Housing and...
In July, the housing market had a 4.0-month supply of housing inventory, a 19.8 percent improvement over last year but still below the 5 to 6 months needed for a healthy, balanced market — one ...
Key housing market stats. The median home-sale price as of May 2024 was $419,300, up 5.8 percent from one year ago and the highest median NAR has ever recorded. The nation had a 3.7-month supply ...
Morgan Stanley’s housing market predictions are a bit more optimistic. It expects weak home sales until mid-2024, which will gradually increase into 2025, when affordability will improve.
Overall, in five years, he expects prices to have appreciated a total of 15 to 25 percent. McBride predicts home prices will average low- to mid-single-digit annual appreciation over the next five ...
A real-estate bubble or property bubble (or housing bubble for residential markets) is a type of economic bubble that occurs periodically in local or global real estate markets, and it typically follows a land boom. [1] A land boom is a rapid increase in the market price of real property such as housing until they reach unsustainable levels and ...
Trends for Home Prices in the Second Half of 2024. “In the second half of 2024, you should expect high home prices and slightly lower mortgage rates later in the year,” said Chris Hoffman, a ...
Over the past couple of years, the US economy has wrung out inflation like dirty mop water from just about every sector — except for the housing market, which remains paralyzed by high prices ...