Current Market Data
Forty-eight percent of mortgaged homes were equity rich in the fourth quarter of last year.
The 30-year fixed rate fell for the fifth week in a row, giving a lift to lending activity, the Mortgage Bankers Association said.
Multigenerational homes are defined by NAR as homes where families live under the same roof with grandparents, adult children or other extended family members.
Homebuyers can now afford $400,000 homes with $2,500 monthly budgets for the first time in four months, according to a new report from Redfin.
Homebuyers are returning, but sellers still aren’t filling the need as inventory remains low.
Homebuyer demand is rising, as mortgage applications rose 28% since November, and more prospective buyers are scheduling home tours.
The median sales price of a new home was down on a monthly basis but up on an annual one.
The Warren Group found Bay State residential real estate sales posted another month of declines in December.
House prices, however, continued to rise, marking the 130th consecutive month for price gains, the longest streak on record, the National Association of REALTORS® said.
More buyers have entered the market in the past four weeks as mortgage rates fell.
The increase in builder confidence breaks a string of 12 straight monthly declines in the NAHB/Wells Fargo Housing Market Index.
Lack of inventory is slowing market activity, despite signs of change
Redfin attributes the drop to the record high mortgage rates, recession concerns, record low inventory, extreme winter weather and the holiday slowdown.
Boston had the second-lowest share of concessions.
Geographically, the largest home-price increases took place in the Southeast, led by Florida (18%), South Carolina (13.9%) and Georgia (13.6%), CoreLogic reported, citing its November Home Price Insights report.
Homes linger on market longer as buyers take their time