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Tag: Housing Market cooldown

U.S. Homebuilding Slumps Amid Cold Weather Conditions

U.S. single-family homebuilding fell by 4.7% to a seasonally adjusted rate of 1.004 million units in January the U.S. Commerce Department's Census Bureau confirmed. This comes amid extreme cold weather conditions, which are suspected to be a main driver in suspending the start of new...

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...

Chinese Economy Receives New Blow From Housing Slump

Official data from China's government on Tuesday is expected to show that the nation's economy is continuing to struggle to launch its economic rebound, with the property market expected to hamper economic growth. While industrial output, retail sales, and fixed-asset investment in July are...

China Home Prices Hit New Low in June

China's home prices remained almost unchanged in June, official data showed on Saturday. This is the lowest level of change that the market has experienced so far this year. Reuters calculations, based on National Bureau of Statistics (NBS) data, found that June's price change...

U.S. Middle-Class Homebuyers Hit By Housing Shortages

A report published by the National Association of Realtors and Realtor.com revealed that middle-class U.S. homebuyers have been hit by a shortage of available housing. While 51% of U.S. earners bring in a household income of $75,000 or less, the report found that only 23%...

Housing Market Affordability Expected to Remain Low, Experts Warn

Real estate experts have warned that the U.S. housing market appears unlikely to become significantly more affordable in the near term. This comes as both mortgage rates and home prices remain high. Bankrate mortgage analyst Jeff Ostrowski claimed that while mortgage rates and home prices...