NAR’s Chief Economist: Is the Worst Over? According to NAR’s chief economist Lawrence Yun, the housing market may be on the path to recovery, which predicts improving inventory, stable mortgage rates, and continued job growth after a tough 2023 and 2024. He anticipates a 10% increase in existing home sales by 2025 and 2026, with…

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Pending Home Sales Jump Unexpectedly, Despite Rising Rates Pending home sales in September jumped 7.4% from August, surprising analysts who had expected only a slight 1% increase. This uptick brought sales to their highest level since March, reflecting a 2.6% year-over-year gain. Based on signed contracts, the rise in pending sales indicates strong buyer demand…

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New Home Sales Rise as Buyers Respond to Lower Rates New home sales surged 4.1% in September from August, reaching a seasonally adjusted annual rate of 738,000, which is 6.3% higher than last year. This spike followed a recent Federal Reserve interest rate cut, which lowered mortgage rates to 6.18%, encouraging buyers to sign contracts…

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Redfin: Pending Sales Rise, Existing Sales Lag in September In September, pending home sales rose 2.5% from August, marking the most significant increase since January 2023 and a year-over-year spike of 3.1%, the biggest since May 2021. Redfin’s report credits the rise to favorable mortgage rates and buyers seizing the moment before major hurricanes hit…

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Pending Home Sales Remain Flat, and That’s Positive In September, the number of pending home sales remained flat compared to a year ago, marking the first time since January that sales did not decline, according to a report from Redfin. This stability suggests the housing market may be turning a corner, with pending sales increasing…

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Investing in real estate can be an exciting way to build wealth, but it’s important to start with a solid strategy. Here are a few beginner-friendly approaches to consider when diving into real estate. 1. House Hacking House hacking is an excellent strategy for beginners who want to live in their investment. The idea is…

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As we inch closer to 2025, homeowners, prospective buyers, and real estate professionals are closely watching the Federal Reserve’s next moves. After a period of economic turbulence marked by inflation and high interest rates, many wonder whether the Fed will continue to lower rates or if market conditions will take an unexpected turn. Based on…

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Mortgage Rates Rose Before Jobs Report — What’s Next? Mortgage rates surged to 6.53% after a strong September jobs report showed higher-than-expected employment growth, signaling a robust economy. This jump in rates, up 27 basis points, disrupted hopes for lower mortgage costs in the near term. The Federal Reserve may slow its rate-cutting pace as…

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Home Sales Hit 30-Year Low            In the first eight months of 2024, only 2.5% of homes were sold, marking the lowest residential turnover rate in at least 30 years, according to Redfin. Sales are down 37.5% compared to the 2021 pandemic boom and 31% lower than in the same period…

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Case Shiller: Home Prices Grow at Slowest Pace in 8 Months, still Hit Record High In July, home prices in the 20 largest U.S. metro areas reached new record highs, but the pace of growth slowed significantly. The S&P CoreLogic Case-Shiller 20-city index showed a 0.3% rise from June and a 5.9% increase over the…

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