Home prices in January rose at the slowest pace in nearly seven years, but buyers shouldn't feel too confident.
Home prices in January rose at the slowest pace in nearly seven years, but buyers shouldn't feel too confident just yet. Prices might be on the verge of picking up yet again.
"The spike in mortgage interest rates last fall chilled buyer activity and led to a slowdown in home sales and price growth," said Frank Nothaft, chief economist for CoreLogic."Fixed-rate mortgage rates have dropped 0.6 percentage points since November 2018 and today are lower than they were a year ago. With interest rates at this level, we expect a solid homebuying season this spring.
So that could mean the end of the current price chill, as more buyers this spring compete for a still-slim supply of listings for sale. Inventories have started to rise nationwide, but mostly on the higher end of the market, which is not where the bulk of current demand is. The supply of entry-level homes for sale is still very, very low, as builders continue to focus on more expensive homes, given today's high costs for land and labor.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Home Depot And Lowe's Disappoint Wall Street, But Home Category Should Keep Both Retailers SafeTheir numbers this week may have disappointed Wall Street, but Home Depot and Lowe's continue to outperform most of their retailing counterparts
Baca lebih lajut »
Why Slowing Home Price Growth Is Good For EveryoneHome price appreciation is destined to slow further, and in some areas of the country, it is going to slow sharply. Income ratios and soon-to-be-rising interest rates will drive a leveling off of home prices, particularly in the most expensive markets in the country.
Baca lebih lajut »
Home-Price Growth at Slowest Pace in Four YearsSlower price growth could be good news for the housing market in the crucial spring months if it pulls buyers back into the market, especially if mortgage rates, which have fallen recently, remain low.
Baca lebih lajut »
Slowing Home Price Growth and Construction Hit Housing MarketHome prices in 2018 grew at their slowest pace in four years, while construction slumped, signaling that the housing market started this year on shaky footing.
Baca lebih lajut »
Home price gains slump to a fresh 4-year low, Case-Shiller saysAnnual home price appreciation was the slowest in more than four years, a reminder of the big question for the housing market writ large.
Baca lebih lajut »
World's smallest baby boy goes home from Japan hospitalA baby boy weighing just 268 grams (9.45 oz) at birth was sent home after months...
Baca lebih lajut »
Pending home sales roar back, suggesting a spring uptick for housingHome-contract signings surged to start the year, suggesting a burst of energy for sales. Still, there’s little to suggest that the housing market is going to snap out of its enduring sluggishness in the year ahead.
Baca lebih lajut »
Kim in Hanoi causes 'sleepless nights' at home - Reuters TVNorth Korean leader Kim Jong Un's grand tour to Vietnam for a second summit with U.S. President Donald Trump is causing 'sleepless nights' back home, according to extensive and unusually quick North Korean state media coverage.
Baca lebih lajut »