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Search resuls for: "National Association of Realtors Data"


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Activity is now at a 13-year low as rising borrowing costs take their toll on the US housing market. Mortgage rates have cleared 7.5% this year, driven higher by the Federal Reserve’s war on inflation. AdvertisementThe spike in mortgage rates dragged on the US housing market once again last month, as activity plunged to a 13-year low even as prices ticked up. Soaring mortgage rates, driven to their highest level since the turn of the century by the Federal Reserve's war on inflation, have fueled the housing-market slowdown. As a result, existing homeowners have opted to cling to the historically low mortgage rates they locked in over the last 15 years rather than move house.
Persons: , Freddie Mac, Lawrence Yun, Yun Organizations: National Association of Realtors, Federal, Service, Biden Administration, NAR
Morningstar just published its Q4 Markets Observer note. The firm highlighted cities where home prices are rising and falling the most. Many high-flying markets that saw massive relative appreciation in the pandemic era are now cooling off in a big way, while those that saw more tepid gains are still plugging along. In Morningstar's Q4 Markets Observer note published this week, the firm used National Association of Realtors data to highlight cities in the US seeing the highest appreciation right now, as well as those where prices are falling the fastest. They found that more affordable markets are performing better from Q2 2022 to Q2 2023.
Persons: Morningstar Organizations: National Association of Realtors Locations: Cincinnati, Houston, Philadelphia
Residential and commercial real estate have more pain coming as financial conditions tighten, Wells Fargo said. Commercial real estate is struggling as work-from-home trends remain popular, the bank said. Meanwhile, in commercial real estate, office demand is still way down as work-from-home trends remain popular. "We expect commercial real estate to underperform on a relative basis in the near-to-intermediate term," Wren said of the sector. Meanwhile, commercial real estate prices are in danger of falling dramatically, with Morgan Stanley strategists predicting a 40% peak-to-trough decline.
Persons: Wells Fargo, Scott Wren, that's, Wren, Banks, Morgan Stanley Organizations: Housing, Service, Silicon Valley Bank, National Association of Realtors, Real Estate Investment Locations: Wall, Silicon, Wells Fargo, underperform
New York CNN —American consumers’ confidence in the US economy grew in December as high inflation continued to ease, according to data released Wednesday by the Conference Board. The business think tank’s latest consumer confidence index registered 108.3 this month, a significant jump from the upwardly revised measure of 101.4 in November. Economists were expecting the index to come in at 101, according to consensus estimates on Refinitiv. Consumer confidence, as measured by this and other surveys like the University of Michigan’s consumer sentiment index, has mostly been on a downward trajectory for much of 2022 as the country grappled with the highest rates of inflation seen in four decades. During 2019, the headline consumer confidence index had an average reading of 128.5.
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