News Formal

Housing Market Struggles Persist Despite Inventory Growth and Lower Mortgage Rates

  • 📰 fox28columbus
  • ⏱ Reading Time:
  • 48 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 39%
  • Publisher: 63%

Real Estate Notícia

Housing Market,Mortgage Rates,Home Sales

Existing home sales dipped 2.5% in August compared to July, marking a continued slump in the housing market. While prices continue to rise, lower mortgage rates and increasing inventory offer hope for future growth.

The housing market’s struggles continued last month as sales dipped in August with higher mortgage rates and expensive asking prices holding down the level of completed sales.

Home sales were disappointing again in August, but the recent development of lower mortgage rates coupled with increasing inventory is a powerful combination that will provide the environment for sales to move higher in future months,” said Lawrence Yun, NAR's chief economist. Overall, there is a 4.2-month supply at the current pace of sales. The housing market is considered balanced if there is a five- to six-month supply.

“Even with these rate reductions, we expect some continued pressure on the housing market. The majority of homeowners are likely to cling to their low-rate mortgages, keeping resale inventory tight and driving more opportunities for new home sales,” said Nirvan Ghosh, a portfolio manager at Palisades Group, a Texas-based real estate investment group. “We anticipate the rate reductions will create a wave in pent-up demand from folks on the sidelines that could further push home prices higher.

Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 249. in PT
 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Housing market's struggles continue despite lower interest rates for a mortgageThe housing market’s struggles continued last month as sales dipped in August with higher mortgage rates and expensive asking prices limiting sales.
Fonte: 13WHAM - 🏆 256. / 63 Consulte Mais informação »

Fixing The Housing Market: Beyond Market-Based SolutionsThis article argues that unaffordable housing requires more than just market-based solutions. It highlights the need to address landlord power, rethink public governance, and increase government involvement through price regulation, robust planning, and direct public provision.
Fonte: HarvardBiz - 🏆 310. / 63 Consulte Mais informação »

Housing market picks up, with sales near two-year highSouthern California home prices held steady at all-time highs, with sales rising from last year’s lows, CoreLogic’s figures show.
Fonte: ladailynews - 🏆 332. / 59 Consulte Mais informação »