by Anthony | Jun 28, 2022 | Existing Home Sales, Housing, Inventory Shrinkage, Real Estate News, Rentals
As we discovered in the recent realtor.com YouTube video, the median rent for 0- to 2-bedroom rental homes across the 50 largest metropolitan areas across the country hit an all-time high of $1,849 in May. This represents the 15th consecutive month of a new record...
by Anthony | May 26, 2022 | Existing Home Sales, Housing, Inventory Shrinkage, NJ Monthly Sales Reports, NJ Real Estate News
The average 30-year fixed rate mortgage exceeded 5% in April, the highest level since 2011, according to Freddie Mac. The recent surge in mortgage rates has reduced the pool of eligible buyers and has caused mortgage applications to decline, with a significant...
by Anthony | May 25, 2022 | Housing, Inventory Shrinkage, Real Estate News
Affordability is the new real estate buzzword. The last two years the inventory shortage that has impacted the market has ultimately driven prices over the last 30 months to hit all-time highs. In addition to making it somewhat lucrative for sellers of homes, the rise...
by Anthony | May 23, 2022 | Existing Home Sales, First-Time Buyers, Housing, Inventory Shrinkage
The median listing price grew by 15.9% compared with 2021, representing the 22nd straight week of double-digit gains. Even in the light of higher mortgage rates, the trajectory of the prices for existing homes did not let up. While consumer confidence fell a bit,...
by Anthony | May 10, 2022 | 2022, Housing, Inventory Shrinkage, Real Estate News
This video discusses how the slowdown in manufacturing and service industries owing to labor and supply shortages. It mentions that car sales declined in April. The video also covers the good news on the employment front. A record number of people are quitting their...
by Anthony | Apr 11, 2022 | 2022, Existing Home Sales, Inventory, Inventory Shrinkage
CoreLogic reports 12 consecutive months of annual home price increases. The home price increases are only further complicated by the rising mortgage rates that have crossed the 5% line. Except for a few days in 2018, mortgage rates have been below the 5% benchmark...
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