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☆ A 20% home down payment isn't 'the law of the land,' analyst says. Here's how much people are paying
▼ + stars: | 2024-05-14 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Tetra Images | Tetra Images | Getty ImagesPutting 20% down is 'definitely not required'One way to reduce your monthly mortgage payment is by putting down more money and borrowing less. But for many households, trying to get a higher down payment can be challenging, said Danielle Hale, chief economist at Realtor.com. While a lower down payment is one way to "attack affordability challenges," it can be a "mixed bag," Hamrick said. With a lower down payment, you will need to borrow more from your lender, which raises the monthly cost of your mortgage, Hale said. A smaller down payment can also mean you don't qualify for a lender's best -available interest rate.

Persons: Danielle Hale, there's, SurveyMonkey, Hale, It's, Hamrick Organizations: CNBC, Department of Veterans Affairs, U.S . Department of Agriculture, Federal Housing Association Locations: U.S

☆ 15 big US cities where you can buy a house even if you make less than $100,000
▼ + stars: | 2024-05-08 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +3 min

Realtor.com identified 15 large US cities with the lowest incomes needed to afford a home. Some of the most affordable cities for homebuyers who earn less are in the South and Midwest. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Realtor.com has identified 15 large cities where homebuyers can make less than $100,000 a year — about the typical income of a household with two or more married or related members — and still afford to purchase a median-priced property. Here are the 15 US cities where prospective buyers with relatively lower incomes can still purchase houses, according to Realtor.com.

Persons: Realtor.com, —, Danielle Hale, Hale Organizations: homebuyers, Service, West Locations: South, Midwest . Pittsburgh, California

☆ The housing market is 'pretty dire' for younger Americans, says Realtor.com's Danielle Hale
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe housing market is 'pretty dire' for younger Americans, says Realtor.com's Danielle HaleDanielle Hale, Realter.com chief economist, joins 'Squawk Box' to discuss the housing crisis facing young Americans, impact of interest rates on the housing market, and more.

Persons: Danielle Hale Danielle Hale

☆ High mortgage rates didn't put a lid on home prices, but soaring insurance costs might, real estate experts say
▼ + stars: | 2024-05-04 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +5 min

While high mortgage rates didn't bring prices down, steep insurance costs could put a lid on further appreciation. But there's an under-the-radar factor that could soon pull down home prices nationally, real estate experts told Business Insider — soaring home insurance costs. AdvertisementThe insurance costs usually come as a surprise to home buyers in those areas, Fairweather added. To Fairweather, it's more precise to say the rising insurance will make home values grow more slowly than they would have, as the robust demand still characterizes the current market. We take into account prices and mortgage rates and now rising insurance costs, but there's still people wanting to buy homes," she said.

Persons: —, Zillow, FRED, Daryl Fairweather, Fairweather, Danielle Hale, Hale, Jesse Keenan, Keenan, it's, homeownership, there's Organizations: Service, Business, Tulane University Locations: Florida, Texas, West, Louisiana

☆ Mortgage rates are now at the highest level of the year, and could go even higher
▼ + stars: | 2024-04-18 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +1 min

The average rate on the popular 30-year fixed mortgage crossed over 7% on April 1, according to Mortgage News Daily, and it just kept going. It now sits right around 7.5%, the highest level since mid-November of last year. Rates hit their highest level in a few decades last October, causing home sales to grind to a halt. Rates then fell through mid-January to the mid-6% range and held there into February, causing a surge in home sales. "Sales data over the next few months is likely to reflect the impact of now-higher mortgage rates."

Persons: Jerome, Powell, Danielle Hale Organizations: Mortgage News Daily, Builders, Realtor.com

☆ Mortgage rates are now at the highest level of the year, and could still climb
▼ + stars: | 2024-04-18 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +1 min

Persons: Jerome, Powell, Danielle Hale Organizations: Mortgage News Daily, Builders, Realtor.com

☆ The 20 best cities to own an electric vehicle, ranked
▼ + stars: | 2024-04-10 | by ( Dan Latu | Catherine Boudreau | ) www.businessinsider.com time to read: +3 min

Realtor.com and Kelley Blue Book ranked the top 20 US cities for EV owners to live. Cities that ranked highly have more homes that can accommodate EVs and more public charging ports. First, the percentage of homes in a market that advertised their friendliness for electric vehicles, including at-home charging stations. Second, the density of electric vehicles compared to available public charging ports. Read on for the top 20 metros for electric-car owners, as determined by Realtor.com and Kelley Blue Book.

Persons: Realtor.com, Kelley, —, Biden, Danielle Hale, Read Organizations: Kelley Blue, EV, Service, Cox Automotive, Realtor.com, metros Locations: United States, San Francisco, Boston, Salt Lake City . California, San Jose

☆ Could real estate go the way of the travel industry? Not just yet
▼ + stars: | 2024-03-23 | by ( John Towfighi | ) edition.cnn.com time to read: +5 min

Sites like Redfin and Zillow provide a way for buyers and brokers to connect online, but the role of real estate agents in closing purchases has persisted. “Ultimately, people will understand what real estate agents really do, especially on the buy side,” Piskorski said. But even with the possibility of major changes, Hale said, one thing will almost certainly remain the same for real estate agents. Currently, the framework of real estate solely emphasizes the buy and sell transaction, said John Bodrozic, co-founder of HomeZada, a real estate tech company. Yet what ultimately differentiates a travel agent from a real estate agent is the value and risk associated with the purchase.

Persons: Tomasz Piskorski, ” Piskorski, Danielle Hale, ” Hale, Hale, “, John Bodrozic, Bodrozic, ”, Bobby Juncosa, Piskorski, ” Juncosa, Juncosa Organizations: CNN — Technology, National Association of Realtors, Columbia Business School, NAR, CNN, Buyers, ” Finance

☆ See how badly your home could be hit by heat, wind, and bad air over the next 30 years
▼ + stars: | 2024-03-13 | by ( Dan Latu | Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

Realtor.com has unveiled a set of climate risk tools that homeowners and homebuyers alike can use to learn the specific climate risks of a property. The tools, called Heat Factor, Wind Factor, and Air Factor, are available starting Wednesday and can map out a neighborhood's risks of above-normal days on the heat index, chances of experiencing wind gusts over 50 mph, and days of poor air quality. More than 40% of US homes, valued at a combined $20 trillion, are vulnerable to extreme heat, wind, and poor air quality, according to a Realtor.com analysis. Understanding your home's climate riskPrior to releasing the heat, wind, and air quality tools, Realtor.com already provided fire and flood risks for properties based on data from First Street. First Street, a climate-risk firm, is also behind the data on extreme heat, wind, and air quality now added to listings.

Persons: Realtor.com, Oscar Seikaly, Bob Stephens, homebuyers, Danielle Hale, Hale, Z, Redfin, we've Organizations: Service, Factor, Air Factor, Business, San, Sun Locations: Florida , California, Texas, Miami, San Francisco, California, Florida

☆ Weekly mortgage demand surges 11% as more homes hit the spring market
▼ + stars: | 2024-03-06 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Spring hasn't officially sprung yet, but the spring housing market already appears to be on the move despite stubbornly higher mortgage rates. Mortgage applications to purchase a home increased 11% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. There were 14.8% more homes actively for sale in February compared with the same time last year, according to Realtor.com. Notably, homes priced in the $200,000 to $350,000 range grew by 25% from a year ago, outpacing all other price categories. There are very few borrowers today with rates that are high enough to benefit from a refinance.

Persons: Mike Fratantoni, Danielle Hale, Realtor.com Organizations: Spring, Mortgage, –, MBA's Locations: Hawthorn Woods , Illinois

☆ Here’s where the price of rent is dropping in the US
▼ + stars: | 2024-02-22 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

The national median price of rent for apartments ranging from studios to two-bedroom apartments fell 0.3% year-over-year to in January. Still, prices are over 18% higher than pre-pandemic levels, due to continued strong demand and limited supply in some markets. The national median rent for a two-bedroom apartment was $1,892 in January, down 0.6%, while rent for a one-bedroom was essentially flat at $1,591. Still, even with the uptick, Chicago’s median rent of $1,852 is almost $1,000 less than coastal big cities like New York at $2,844 and Los Angeles at $2,829. But the supply of new multifamily housing is growing, which helps to bring down rental prices, according to the report.

Persons: That’s, Realtor.com, ”, Danielle Hale, Hale, weren’t Organizations: DC CNN, Kansas, Las Locations: Washington, Chicago, Indianapolis, Kansas City , Missouri, New York, Angeles, Memphis , Tennessee, Atlanta, Austin , Texas, Louis , Missouri, Miami, Phoenix, Las Vegas, Los Angeles, Seattle, Boston

☆ The housing market is very undersupplied right now, says Realtor.com's Danielle Hale
▼ + stars: | 2024-02-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe housing market is very undersupplied right now, says Realtor.com's Danielle HaleDanielle Hale, Realtor.com chief economist, joins 'Squawk Box' to discuss the state of the housing market, supply and demand imbalance, and more.

Persons: Danielle Hale Danielle Hale

☆ Homebuyers searching for a bargain should target these 10 cities where home prices are down even as the housing market heats up
▼ + stars: | 2024-02-01 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Read previewThe US housing market is showing signs of life again after the weakest year for home sales since the financial crisis . Home transaction volume tanked in 2023 as buyers and sellers became dissatisfied with the state of the real estate market. Would-be buyers became renters as mortgage rates surged to levels not seen since the turn of the century, hurting home demand and frustrating sellers. Mortgage rates are down over one percentage point from their fall peak, though they're still much higher than they were throughout the 2010s. 10 cities where prices are downThe outlook for buyers is finally improving, especially in cities where home prices are falling.

Persons: —, Realtor.com, Danielle Hale, they're Organizations: Service, Business Locations: Denver, Seattle, Miami

Home prices declined slightly in November while posting yearly gains, suggesting the housing sector has cooled somewhat heading into 2024. The house price decline came at a time where mortgage rates peaked, with the average Freddie Mac 30-year fixed rate mortgage nearing 8%, according to Federal Reserve data. But as more inventory comes on the market and mortgage rates remain elevated, sale prices may be beginning to wilt. That has led some analysts to say that the market could bounce back as the traditional spring buying season begins. The index tracks a three-month period when mortgage rates were zig-zagging and ended on a down note, said Danielle Hale, chief economist at Realtor.com.

Persons: ”, Brian Luke, San Francisco, Cleveland –, Luke, “, Freddie Mac, Selma Hepp, Danielle Hale Organizations: Dow Jones, Seattle, Cleveland, Midwest, Federal Reserve Locations: “, San, Miami, Tampa, Atlanta, Charlotte , New York

☆ December home sales slump to close out worst year since 1995
▼ + stars: | 2024-01-19 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Sales were 6.2% lower than in December 2022, marking the lowest level since August 2010. Full-year sales for 2023 came in at 4.09 million units, the lowest tally since 1995. Regionally, on a month-to-month basis, sales were unchanged in the Northeast and fell 4.3% in the Midwest. There were 1 million homes for sale at the end of December, making for a 3.2-month supply at the current sales pace. Individual investors, who make up a large share of all-cash sales, bought 16% of homes, down from 18% in November.

Persons: Lawrence Yun, Danielle Hale Organizations: National Association of Realtors, Midwest ., Mortgage News, Homes Locations: Northeast, West

“Consumer views were supported by confidence that inflation has turned a corner and strengthening income expectations,” Hsu added. “Like December, there was a broad consensus of improved sentiment across age, income, education, and geography,” Hsu said. There may, however, be some relief in 2024 as mortgage rates fall in line with reduced interest rates from the Federal Reserve. “Mortgage rates will continue to remain a wild card for home shoppers,” said Danielle Hale, chief economist at Realtor.com. "Mortgage rates are meaningfully lower compared to just two months ago, and more inventory is expected to appear on the market in upcoming months."

Persons: Joanne Hsu, ” Hsu, ”, Danielle Hale, Lawrence Yun Organizations: University of Michigan, Republicans, Federal Reserve, National Association of Realtors, “, Realtor.com, National Association of Home Builders, Federal Reserve Bank of New, Federal Reserve Bank, Atlanta’s Locations: “, Federal Reserve Bank of New York

☆ Renters are being hit harder by inflation than homeowners are
▼ + stars: | 2024-01-12 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Renters and homeowners experience inflation differently; and right now, renters are taking a much more painful hit. While shelter inflation has come down over the past few months, in December, the shelter index was still 6.2% higher year over year. Inflation divide between renters and homeownersTwo things are driving the divide between how homeowners and renters experience inflation. And 64% of homeowners have a mortgage rate of 4% or lower — more than two and a half percentage points lower than prevailing rates. Even if the typical mortgage payment is higher than a typical monthly rent payment, renters’ incomes tend to be lower than homeowners.

Persons: “, Lisa Sturtevant, Danielle Hale, Realtor.com, ”, Hale Organizations: DC CNN, Bright MLS, Bank of America Institute, BLS, “ Locations: Washington

☆ Mortgage rates fall for fourth week but stay above 7%
▼ + stars: | 2023-11-22 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Mortgage rates fell again in the most recent week, as inflation showed signs of slowing. It’s the fourth consecutive week of tumbling rates after rising for seven straight weeks. The average rate rose above 7% in mid-August and since then reached as high as 7.79% at the end of October. “In a few short weeks, mortgage rates have largely erased the sharp climb traversed in October,” said Danielle Hale, Realtor.com’s chief economist. Meanwhile, she added, existing home sales slid to their worst reading since 2010 as home prices rose and mortgage rates pushed the cost of buying even higher.

Persons: Freddie Mac, “, ”, Sam Khater, Freddie Mac’s, Danielle Hale, Hale, homebuyers, ” Hale Organizations: DC CNN — Locations: Washington

Sales of existing homes fell by 4.1% in October as a shortage of houses for sale and higher mortgage rates dampened activity, the National Association of Realtors said on Tuesday. The annual level of sales reached 3.79 million, down 14.6% from a year ago when sales were 4.44 million. “Prospective home buyers experienced another difficult month due to the persistent lack of housing inventory and the highest mortgage rates in a generation,” said NAR Chief Economist Lawrence Yun. There is some relief, however, as mortgage rates have fallen in the past week. Some housing industry analysts believe rates could trend under 7% early next year as overall interest rates begin falling amid expectations the Federal Reserve is done raising rates.

Persons: ”, Lawrence Yun, ” Yun, “, Danielle Hale Organizations: National Association of Realtors, Midwest, Federal Locations: “

☆ Worried About Inflation? Move to Alaska, Sell the Car and Become a Vegetarian
▼ + stars: | 2023-11-17 | by ( Tim Smart | ) www.usnews.com time to read: +7 min

The consumer price index for October showed inflation at a 3.2% level, while the producer price index came in with an annual rate of 1.3%. Perhaps the most interesting and relevant facts about inflation are that the overall number means little to the average person. “Although the overall consumer price level was flat in October, shelter inflation continued,” said Danielle Hale, chief economist for Realtor.com. Overall inflation among select urban areas was highest in the Miami to West Palm Beach corridor, up by 7.4% in October. Their inflation rate was 1.1%.

Persons: Jerome Powell, Richard McPhail, Doug McMillon, McMillon, ”, Kayla Bruun, Joe Biden, PublicSquare, Tony Welch, Danielle Hale, Shawn Ashworth, Ashworth, Maxx, Jeff Bezos Organizations: Federal, Walmart, New York Jets, Realtor.com, Berkeley Research, Goods, Auto Locations: U.S, ”, Florida, Miami, West Palm, Anchorage , Alaska

☆ Home sellers are slashing prices in these 13 cities, and there's new evidence that houses will get even cheaper in early 2024
▼ + stars: | 2023-11-02 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Home values have held up this year despite historically high mortgage rates, but a new report from Realtor.com suggests that property prices could fall under pressure in the coming months. The firm said that price growth was flat — even as mortgage rates rose to a 23-year-high. Higher borrowing costs dampened demand, though it's possible homebuyers were worried that mortgage rates would soar even higher and wanted to buy before that could happen. Limited supply kept property prices afloat, as Realtor.com found that inventory fell 2% from October 2022. 13 cities where sellers are cutting pricesWhile listing prices are falling across the nation, the trend is especially noticeable in the South and Midwest.

Persons: Danielle Hale, Realtor.com, Hale, it's Locations: West, Midwest, Antonio , Texas, San Jose , California, Memphis , Tennessee, Dallas , Texas, Miami , Florida, South

☆ New homes are faring better in the housing market, says Realtor.com's Danielle Hale
▼ + stars: | 2023-10-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew homes are faring better in the housing market, says Realtor.com's Danielle HaleDanielle Hale, Realtor.com chief economist, joins 'Power Lunch' to discuss the health of the housing market.

Persons: Danielle Hale Danielle Hale

☆ Affordable apartments are getting snapped up quickly — but rental units in these 18 cities are significantly cheaper now than they were last year
▼ + stars: | 2023-10-23 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Rent is steadily sliding in the US, but great deals on apartments are still few and far between. A new report from Realtor.com revealed that rent growth was negative for the fifth straight month in September. That problem is slowly getting addressed as 445,000 new multi-family units come online, though they're selling very quickly. Nearly 70% of new affordable apartments got filled within three months of completion in the second quarter compared to a 57.2% rate for more expensive units, Realtor.com found. The trend was pronounced across all the four major US regions, though less pricey Midwest markets had the most dramatic rise in so-called absorption rates of new rental units.

Persons: Realtor.com, Realtor.com's Jiayi Xu, Danielle Hale, Xu, Hale, shouldn't Organizations: shouldn't Locations: Midwest, Austin , Texas, California, San Francisco, Los Angeles

☆ September home sales drop to the lowest level since the foreclosure crisis
▼ + stars: | 2023-10-19 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

This is the slowest sales pace since October 2010, during the Great Recession, when the market was in the midst of a foreclosure crisis. As a comparison, just two years ago, when mortgage rates hovered around 3%, home sales were running at a 6.6 million pace. Adding to higher mortgage rates, the median price of a home sold in September was $394,300, up 2.8% year over year. That's because there is more supply at the higher price points and because higher-end buyers can often use cash. Mortgage demand is now at the lowest level since 1995, according to the Mortgage Bankers Association.

Persons: Lawrence Yun, Danielle Hale Organizations: National Association of Realtors, Mortgage News, Federal, Mortgage, Association

☆ 5 Southern cities where houses are shrinking
▼ + stars: | 2023-10-11 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +1 min

The typical home for sale in the South is smaller than it was pre-pandemic. Builders are constructing smaller homes and many homes for sale are in denser places, like cities. AdvertisementAdvertisementMore smaller homes are on the market in the South than pre-pandemic, Danielle Hale, Realtor.com's chief economist, told Insider. It's driven the median listing price of homes up 35.7%. Below, five cities in the South where homes have gotten smaller as they've gotten more expensive since the start of the pandemic.

Persons: —, Danielle Hale, It's, Hale Organizations: Service

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