Housing Market Could Get 4 Million New Potential Buyers This Year

The U.S. housing market could gain 4 million new buyers this year if mortgage rates fall one percentage point, data from the National Association of Home Builders showed this week.The housing market remains out of reach for many Americans due to high mortgage rates and soaring home prices as inflation stays elevated. But the tide could be turning for Americans looking to buy a home.While 27.5 million households can afford the median-priced new home at a 7.

Still, some housing markets that have experienced skyrocketing home prices are starting to see a drop in buyer demand.Florida saw its median sale price shoot up to $404,100 in January, an increase of 4.5 percent from the previous year, according to Redfin. Despite this, sales were down in a number of cities. In Jacksonville, home sales were down by more than 27 percent year over year, and Miami saw a drop of roughly 9 percent.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Breitbart Business Digest: The Housing Market Shows Interest Rates Are Too LowSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »

China Housing Market Crisis Given New TheoryThe concentration of China's property sector in the hands of the country's largest firms has caused the market's downfall, a new study found.
Source: Newsweek - 🏆 468. / 52 Read more »

Colorado housing market booms: Prices double in past decade as supply dwindlesLimited housing supplies continue to dominate Colorado’s housing market. A new study from Point2 shows that the median home sale price doubled nationally in the past decade primarily due to a…
Source: denverpost - 🏆 13. / 72 Read more »

Mike Viola: Bravo to Mayor Brandon Johnson’s embrace of free market economics for housingProposals in Mayor Brandon Johnson’s new “Cut the Tape” report take the opposite philosophical stance to his failed real estate transfer tax hike.
Source: chicagotribune - 🏆 8. / 91 Read more »