Mortgage rates have stayed around the 7% range over the last few days, making it more expensive to buy a home for many aspiring homeowners. Even if buyers come to terms with high rates, home listings have been scarce, as homeowners hold out on listing and selling their homes.
Sales of previously owned homes fell by 3.3% to an annual rate of 4.16 million in June, the National Association of Realtors said Thursday. July data will be released next week. As Bill McBride, author of the economics blog Calculated Risk, puts it, with the 30-year fixed interest rate at 7.24%, a $500,000 home with 20% down would equate to a rough monthly payment of $2,700.
In the past, when people sought to live on their own, move out of their parents’ place, or transition from living with a roommate to living on their own, they tended to move towards places that had cheaper options.
مصر أحدث الأخبار, مصر عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
Housing starts increase as housing market sends mixed signalsThe number of housing starts ticked up in July despite rising mortgage rates, adding to the mixed signals regarding the health of the market.
اقرأ أكثر »
Real estate brokerage giant predicts 'tough' market for remainder of 2023Redfin CEO Glenn Kelman said the real estate market is at a 'standstill.'
اقرأ أكثر »
Real estate brokerage giant predicts a 'tough' market for remainder of 2023With U.S. home sales volume at 'rock bottom,' little construction and rising mortgage rates, Redfin CEO Glenn Kelman warns the real estate industry will have 'a tough 2023.'
اقرأ أكثر »