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☆ Prepare for house price growth to slow, says First American chief economist
▼ + stars: | 2024-02-22 | by ( Chris Johnston | ) www.businessinsider.com time to read: +3 min

First American's chief economist told Fortune that lower mortgage rates will cool price growth. First American chief economist Mark Fleming told Fortune that the pace of price growth has likely topped out because mortgage rates are poised to decline this year. The hikes fueled an increase in 30-year mortgage rates to more than 8% in October — a two-decade high. AdvertisementLower mortgage rates promise to boost demand, as buyers will be able to afford more expensive homes once again. "Shark Tank" investor Barbara Corcoran disagreed, predicting they would pop by 15% or 20% once mortgage rates dropped to about 5%.

Persons: Fortune, —, Mark Fleming, Sellers who'd, they'd, Fleming, Elon Musk, Barbara Corcoran Organizations: Service, First, Business

☆ 10 US cities where homebuyers can find a good deal right now
▼ + stars: | 2022-09-28 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +2 min

It's an interesting moment in which several cities are boasting housing deals not seen in years. However, for those who can still afford a home purchase, there is some good news — the real estate market is becoming less competitive. With less Americans purchasing homes, prospective buyers are finally beginning to see home price declines in cities across the country — some more than others. To determine what markets present a good deal for homebuyers, Realtor.com analyzed housing data from the nation's 250 largest cities. Its researchers were able to identify that several cities across the country are softening for homebuyers.

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