Top 9 Takeaways from NAR’s 2023 Profile of Home Buyers and Sellers
Let’s take a look at some of the most interesting findings from the 2023 Profile of Home Buyers and Sellers.
Let’s take a look at some of the most interesting findings from the 2023 Profile of Home Buyers and Sellers.
Consumer prices are not fully compliant, though they have decelerated from last year.
This week, mortgage interest rates inched upwards and closer to the 52-year average (7.74% since 1971) by hitting 7.57%.
Two new NAR reports reveal the difficulties home buyers are facing across racial and ethnic lines and what can help them on their real estate journey.
At the national level, housing affordability was flat in July 2023 compared to the previous month.
The current real estate market’s high home prices and mortgage rates, as well as limited inventory, are the top reasons that Realtors® and prospective home buyers across races and ethnicities cite as barriers to purchasing a home.
After last week’s dip, mortgage interest rates for the 30-year fixed are back up to 7.18% from 7.12%, making the monthly payment on a typical single-family existing home $2,234.
Compared to one year ago, affordability fell in June as the monthly mortgage payment climbed 12.1% and median family income rose by 4.2%.
Mortgage rates continued climbing today to 6.96% from 6.90%.
Median home prices rose by 8.5% in Q2 2023 compared to Q1, however, national median prices fell 2.4% year-over-year to $402,600.