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☆ Home Prices Continue to Rise Even as Mortgage Rates Top 7%
  + stars: | 2023-09-26 | by ( Tim Smart | Sept. | At A.M. | ) www.usnews.com   time to read: +2 min
Home prices rose 0.6% in July, holding their own amid high mortgage rates and a low supply of houses for sale, according to the S&P CoreLogic Case-Shiller Index released on Tuesday. On an annual basis, the national index is now up 1% from a year ago. “Areas in the Midwest continue to lead the national gains given their relative affordability. Markets that saw home prices reset following the recent surge in mortgage rates are expected to see stronger gains over the next 12 months, particularly those in the West,” Hepp added. While mortgage rates that have recently topped 8% for a 30-year fixed rate loan are dampening demand, a shortage of homes for sale is keeping prices high.
Persons: ”, Craig J, Lazzara, ” Selma Hepp, ” Hepp, Today’s, Danielle Hale, “ Locations: Chicago, Cleveland, New York
☆ When Is The Best Time to Buy a House?
  + stars: | 2023-04-03 | by ( ) www.wsj.com   time to read: +8 min
By Michele LernerAs with much else in real estate, the best time of year to buy a house depends on location, market conditions—and you. “But the best time of year to buy a house depends a lot on the type of buyer.”The spring housing marketTraditionally the housing market’s most active season, spring can be the “best” time of year to buy or the “worst” time of year to buy, depending on your perspective. Best time to buy for: Buyers who hope to move before the holidays or at least before the end of the year. Best time to buy for: Buyers and investors looking for a better deal. “Sometimes it’s the right time to buy a house when you’ve found ‘the one’ that feels right for your family and your circumstances,” Bloch says.
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