Prices continue to rise.
Don't expect home prices to come crashing down anytime soon
By Nicole Goodkind, CNN Business
Updated 8:12 AM ET, Wed August 31, 2022
New York (CNN Business)Rising mortgage rates are taking a toll on the US housing market. But those hoping for prices to drop probably won't catch a break anytime soon.
What's happening: Home prices were up 18% in June compared to a year ago, with Tampa, Miami and Dallas reporting the highest annual gains, according to the S&P CoreLogic Case-Shiller Indices.
That was a slower pace than in May, when they rose 19.9% annually. But the bottom line is that prices are still going up a lot, even as home sales have declined from their peaks.
So are we in a housing bubble?
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https://www.cnn.com/2022/08/31/investing/premarket-stocks-trading?fbclid=IwAR3bKvGKcfqvFwNiJD0pbQHcRTy8blxEeORQNN-nJfiInU08euKMFTl4tsI
Posted on 08/31/2022 3:19 PM by Tiffany Olson
END-UNIT TOWNHOME BUILT IN 2017 UNDER $300K
Posted on 08/18/2022 8:37 AM by Tiffany Olson
What's next for the US housing market
What's next for the US housing market
By Anna Bahney, CNN Business
Updated 8:53 AM ET, Tue August 2, 2022
While some buyers have forged ahead, others have put their home search on hold or have given up entirely because the rising costs have put ownership out of reach.
But as recession fears for the larger economy loom, the housing market is showing signs of slowing. Sales of new construction homes are down and construction is stalling. Sales of existing homes have dropped and are trending below 2019 levels. As mortgage rates remain above 5%, applications have fallen to their lowest level in 22 years.
Still, neither home prices nor mortgage rates are expected to plummet and affording a home is likely to remain a challenge for the rest of the year, economists say. Home price gains are slowing, but year-over-year prices are still seeing double-digit increases. And the Federal Reserve announced another rate hike this week, which will keep mortgage rates volatile.
Continue reading at...
https://www.cnn.com/2022/08/01/homes/housing-market-outlook-second-half-of-2022/index.html?fbclid=IwAR19yHnwjKi49iMRDO37MtVR0RCBHTCLVxvVLJSC1R4wFbY5KX28DjCqSJg
Posted on 08/05/2022 6:22 AM by Tiffany Olson
