Four Tips to Avoid Blowing Your Housing Budget Amid Rising Rates
Here are some steps homebuyers can take to stay within their housing budget.
Here are some steps homebuyers can take to stay within their housing budget.
Using an all-cash offer service can give buyers an advantage, but it's not free.
Rising mortgage rates are cutting into what homeowners can afford to spend on a home. Here's what a $2,000-a-month housing budget gets you in different parts of the nation.
“Sellers are losing control of the housing market," Redfin's deputy chief economist said.
U.S. home prices gained 20.6% in March from a year earlier, the fastest national pace on record, according to S&P CoreLogic Case-Shiller Indices.
The share of offers for U.S. properties that had a competitive bid fell to the lowest level in more than a year, according to a Redfin report.
The decline in signed contracts came at the start of the so-called spring selling season, typically the busiest time of year for real estate transactions.
Sales of new houses plunged 17% in April, the fourth consecutive decline, as a spike in mortgage rates chilled demand.
Sales of previously owned homes in April dropped to the lowest level since the start of the pandemic, the National Association of Realtors said.
A jump in mortgage rates is shifting builders' focus to rental homes, chilling the for-sale market, said Lawrence Yun, NAR's chief economist.