By the Numbers

Limited inventory is changing the behavior of buyers and the price of new construction relative to existing homes, several experts told Real Estate News.

For the fifth straight week, 30-year mortgage rates went up, hitting 7.23% — the highest level since 2001.

New construction got another boost in July, with sales up 31.5% year-over-year. Rising mortgage rates may reverse that trend.

NAR reported a 2.2% national decline in sales in July, but the West bucked the trend, and more first-time buyers entered the market.

Researchers from Zillow, Freddie Mac, and Goldman Sachs all issued revised, rising 2023 home value and price forecasts in the past week.

The median square footage for a home under construction — now 2,191 — has hit its lowest point since 2010.

After a fourth week of increases, average rates reached 7.09% this week, passing last fall's peak.

After seven consecutive months of improving confidence, homebuilders were feeling less optimistic in August.

A new report from Redfin found that homes in high-opportunity neighborhoods sold for nearly 40% more than homes in low-opportunity neighborhoods.

Many of the biggest annual price gains were in the Midwest, with Fond du Lac, Wisconsin, leading the way with a 25.3% gain.

Average rates reached 6.96% again after rising three weeks in a row, and after falling last month, inflation crept back up.

A new Black Knight report reveals major gains in the Midwest and Northeast, signals an end to the U.S. housing correction.

More than half of the land brokers in a recent survey said the national land market is “hot” or “on fire.”

Nearly a quarter of homeowners are considering selling in the next 3 years, according to a Zillow survey — a significant increase over prior surveys.

Freddie Mac put the average 30-year fixed-rate mortgage at 6.9% this week, just below the peak seen in mid-July.

NAR’s midyear forecast touched on a variety of trends, highlighting increased moving distances as a notable recent change.

High interest rates and economic uncertainty have made home equity lines of credit costlier and more precarious.

Nationwide, luxury home prices are still on the rise, but several Western cities have experienced double-digit declines in the past year.

Nashville tops the list of cities with "just right" homes with ample square footage and big yards near urban centers.

The 30-year fixed-rate mortgage rose to 6.81% this week as the Fed raised its benchmark rate to the highest level since 2001.