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Homebuyers

Mortgage demand is up, but lenders are more cautious

by Justin Ho
Jun 14, 2023
Mortgage applications rose last week, thanks in part to a dip in mortgage rates, according to a new report. But credit availability has been falling.
Mortgage demand and mortgage supply are moving in different directions.
Joe Raedle/Getty Images
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More buyers are backing out of housing contracts

by Amy Scott
Jan 26, 2023
They're down about 26% compared to a year ago.
When buyers back out of contracts, that can slow down construction of new homes, said Clint Mitchell, CEO of Estridge Homes in Indianapolis.
Jim Watson/AFP via Getty Images
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Mortgage rates fell slightly. Is that good for homebuyers?

by Justin Ho
Nov 17, 2022
Mortgage rates fell slightly last week, according the Mortgage Bankers Association. But even if rates keep falling, people will still struggle to afford homes.
Descending mortgage rates could move more people into the housing market.
Getty Images
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More homes are sitting in Cleveland's real estate market, this broker says

by Amy Scott and Anais Amin
Nov 10, 2022
"The average days on market has gone from less than a week up to about 89 days," says broker Amanda Pohlman of Keller Williams Living.
"The market just isn't as robust as it has been," said Cleveland-based broker Amanda Pohlman.
Joe Raedle/Getty Images
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As the housing market cools off, buyers have "room to breathe"

by Meghan McCarty Carino
Oct 24, 2022
Rates are near 7% for a 30-year fixed mortgage, highest in two decades. For buyers who can afford it, shopping is less stressful.
Listings are staying on the market for about 19 days now, according to Zillow. That's much longer than in the spring.
Joe Raedle/Getty Images
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Homebuilder confidence continues to slide as interest rates continue to rise

by Justin Ho
Sep 19, 2022
Materials and labor costs are up. Building costs will climb further if interest rates on construction loans rise.
Rising interest rates are not only causing potential homebuyers to hold off on purchases, but increasing the cost of home construction.
Frederic J. Brown/AFP via Getty Images
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Buyers and sellers are feeling a shift in the housing market

by Savannah Maher
Jul 27, 2022
In some markets, sellers can no longer bet on multiple offers and quick deals, and buyers can afford to be pickier.
Mortgage rates have climbed, and the real estate market has cooled.
Justin Sullivan/Getty Images
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Flipping homes is more popular than it's been in decades, thanks to the hot housing market

by Kristin Schwab
Jun 28, 2022
But profit margins are shrinking, and the flipping boom may be coming to an end.
Rick Sharga with Attom Data Solutions said he expects to see less house flipping because it's becoming less profitable.
Stefani Reynolds/AFP via Getty Images
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My Economy

The hot housing market is "very bad" for this home inspector

by Andie Corban and Sean McHenry
May 25, 2022
With heightened competition to buy homes, many buyers are waiving inspections and other contingencies.
Despite the decline in business, home inspector Peter Drougas says "there's no way I'm closing down."
Justin Sullivan/Getty Images
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Fast-moving home sales hit 15-year high last year

by Meghan McCarty Carino
Jan 21, 2022
Most houses sold in about a week, keeping buyers on their toes.
Some homebuyers are forgoing inspections or appraisals simply to have a shot at an accepted home offer.
Justin Sullivan/Getty Images
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