Found 145 blog entries tagged as mortgage rates.

Investor activity began to plateau in the second quarter but even with higher interest rates and a slowing housing market, it's likely some groups will continue to find opportunity.

Real estate investors bought 87,500 U.S. homes in the second quarter, up 11% on a quarterly basis and 5.9% higher year over year, according to Seattle-based Redfin Corp. (Nasdaq: RDFN). Investors bought an all-time high of 93,700 homes in Q3 2021 but, as Redfin notes, investors continue to buy more homes than they did pre-pandemic.

Investors purchased a record $60.1 billion worth of real estate in Q2, and their market share was 19.4% of all homes purchased last quarter (down from 20.5% in Q1).

Defined by Redfin and most industry groups as an institution or…

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Homebuyers continue to gain negotiating power in the Austin area, a welcome change of pace in a market that has been defined for much of the past two years by blistering conditions.

The latest numbers from the Austin Board of Realtors convey good — or at least better — news for this home-starved market and people struggling to find a home. They also signal a comforting trend that would help Austin avoid a housing crash after years of phenomenal appreciation.

Housing inventory increased in July for the second straight month, to 2.7 months for the region and 2.4 months for Austin city limits, according to ABOR. Instead of a summer outlier, this now seems to point to a trend of decreasing demand, especially in light of rising mortgage rates,…

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Just a few months ago, builders couldn’t put homes up fast enough to appease the hordes of eager buyers. They boasted about lengthy waitlists, even holding lotteries to choose those lucky enough to purchase their newly constructed homes.

Those days are now over as the housing market corrects after two years of runaway prices.

Buyers are now canceling orders and extracting themselves from waitlists as higher mortgage rates have pushed their dreams of owning new construction beyond their financial reach. Sales are down.

Builders are responding by throwing out incentives, like spaghetti against a wall, to see which ones attract buyers. Some have begun cutting prices, and the majority are slowing down the pace of construction—despite the nation’s…

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Housing inventory in the U.S. jumped dramatically in June, and Texas’ capital city leaped the highest.

Active listings in Austin are up 144.5 percent over June of last year — the largest increase in the 50 largest U.S. metros by a long shot — according to Realtor.com’s June housing trends report. The number of active listings nationwide has increased 30 percent since the same time last year.

The June median listed home price for the Austin metro was $660,000 in June, up 18 percent over the same period last year, but those high asks are now less likely to hold.

A whopping 32 percent of homes for sale in June were reduced from their original ask — a 24.7 percent increase in the discount share since the same period last year. Nationwide, the…

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For the past two years, anyone who had a home to sell could get practically any asking price. Good shape or bad, in cities and in exurbs, seemingly everything on the market had a line of eager buyers.

Now, in the span of a few weeks, real estate agents have gone from managing bidding wars to watching properties sit without offers, and once-hot markets like Austin, Texas, and Boise, Idaho, are poised for big declines.

The culprit is rising mortgage rates, which have spiked to their highest levels since the 2008 housing crisis in response to the Federal Reserve’s recent efforts to tame inflation. The jump in borrowing costs, adding hundreds of dollars a month to the typical mortgage payment and coming on top of two years of home price…

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