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Real Estate

Existing Home Sales Fall to Slowest Pace in 30 Years

Data from the National Association of Realtors (NAR) revealed that existing home sales fell to 4.09 million in 2023; the slowest rate in 30 years and 19% lower than 2022. The NAR insisted that market conditions weren't as bad in the early 1990s when...

Housing Market Proved Unpredictable in 2023

The U.S. housing market proved to be largely difficult to predict for Wall Street analysts to predict over the course of 2023. Initially forecasting a 4.5% decline in U.S. home prices over the course of 2023, Wells Fargo economist Charlie Dougherty decided to make...

UK Property on Course for Record Affordability

UK housing prices are on track to their longest streak of improved affordability in over two decades, with data from the Nationwide Building Society showing that average house prices for the year fell 1.8% to £257,443. In real terms, when accounting for inflation, property...

Mortgage Rate Hit Lowest Level Since May

U.S. mortgage rates have fallen to their lowest level since May, with the 30-year mortgage rate falling from last week's 6.67% to 6.61% according to data from Freddie Mac. This is a ninth consecutive weekly decline and a drop of more than a full...

Mortgage Rates Could Drop to 5% in 2024

Real estate investors are closely monitoring mortgage rates in the hope that cooling inflation data will continue to push the 30-year mortgage rate lower going into 2024. While it appears as if it could fall to 5%, such a significant drop seems unlikely at...

U.S. Homebuilders More Confident as Interest Rates Ease

U.S. homebuilder confidence rose in December, the National Association of Homebuilders/Wells Fargo Index showed, as easing interest rates appear to contribute to improved sale conditions. According to the index, builder confidence rose to 37 in December from 34 in November, thereby exceeding analysts' expectations...