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Record-high home prices and elevated mortgage rates are prompting buyers to back out of home purchase agreements at elevated levels. Redfin’s newest housing market report shows that buyers backed out of 56,000 purchase agreements in June, which constitutes 14.9% of homes that went under contract. That’s the highest percentage of…
Continue reading →Home price growth in the second quarter was stronger than previously anticipated, but economists at Fannie Mae believe it will likely moderate soon, closing 2024 and 2025 at annualized rates of 6.1% and 3%, respectively. Even with more listings of homes available for sale compared to a year ago, existing-home…
Continue reading →The number of down payment assistance (DPA) programs for homebuyers has reached an all-time high. That’s according to the second-quarter 2024 Homeownership Program Index report from Down Payment Resource, which tracks homebuyer assistance programs. In Q2 2024, the number of down payment assistance options rose 2% relative to the previous…
Continue reading →Keller Williams market centers have shared more than $2 billion in profits with affiliated agents though the firm’s profit-sharing program, according to an announcement on Monday. “We are thrilled to celebrate that over $2 billion in lifetime profit share has been distributed to our franchisee-affiliated agents, a milestone that underscores…
Continue reading →Sinking sales, rapidly rising inventory and prices at all-time highs — this is the state of the market for existing homes. That’s according to June’s existing-home sales data from the National Association of Realtors (NAR), which reflect the problems that have hampered housing markets since mortgage rates began to rise…
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