Confidence among home builders dropped for the 10th month in a row in October to a 10-year low (with the exception of the start of the pandemic), according to the National Association of Home Builders. Traffic among prospective buyers, one of the components that measures confidence, fell significantly, the association said, as buyers look at...
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The housing market is slowing with sales declining and home prices softening. Home sales in California dropped 31.1% year- over-year in July 2022 and last month was the third consecutive month with sales falling more than 10% from a year ago. Prices also began to moderate in the past couple months after the statewide median...
Given rising mortgage rates that spiked to their highest levels since the 2008 housing crisis and fears of a recession, the real estate market has been preparing for a slowdown. Many experts are cautioning sellers to say goodbye to the pandemic housing boom and welcome an era of fewer bidding wars and higher inventory. That...