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Buyers and sellers are feeling a shift in the housing market

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

Housing affordability continues to worsen for many Americans

Jul 19, 2022
Home prices are at record levels, and mortgage rates are much higher now than they were six months ago.
Fewer homes are being built these days — especially in the price range of first-time buyers.
Stefani Reynolds/AFP via Getty Images

The housing market is cooling off, but homes aren't necessarily more affordable

Jul 19, 2022
Rising interest rates and inflationary pressures make it more difficult for buyers, and builders are dealing with soaring construction costs.
A shortage of housing is making home ownership unaffordable for millions of Americans with prices up more than 30% over the past few years and interest rates rising.
FREDERIC J. BROWN/AFP via Getty Images

Homebuilders' confidence in housing market plummets

Jul 18, 2022
The National Association of Home Builders' latest survey also shows that 13% of builders reported cutting prices.
In the NAHB's July survey, 13% of builders reported cutting prices to encourage sales.
Joe Raedle/Getty Images

Some homebuilders are dropping prices as mortgage rates rise, economist says

People "desperately want to purchase," but are stepping out of the difficult market, says Ali Wolf, chief economist at Zonda.
"It's a very tricky thing because the builders are trying to drum up demand, while also trying to keep their buyers in backlog — those that have already signed a contract — happy," says Ali Wolf, chief economist at Zonda.
Chris Delmas/AFP via Getty Images

Signs of a cooling housing market: The return of contract contingencies

Jul 13, 2022
Potential buyers are again asking for home inspections and contract clauses that let them back out of a home purchase without penalty if they're unable to get a mortgage.
The contingencies allow prospective home buyers to back out of a sale.
Stephen Brashear/Getty Images for Redfin

Flipping homes is more popular than it's been in decades, thanks to the hot housing market

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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As the real estate market cools, so does the market for agents

Jun 21, 2022
As home sales decline, the field is becoming more competitive.
Thousands of people became real estate agents during the pandemic, but the cooling housing market is making the field more competitive.
Andrew Caballero-Reynolds/AFP via Getty Images

Homebuyers will still pay a premium to live in a good school district — even in a hot market

Jun 21, 2022
Real estate experts say buying in a desirable district benefits non-parents too.
In some markets, buyers are paying thousands over asking price to be close to the school of their choice.
Jon Cherry/Getty Images

Are rising mortgage rates already cooling the hot real estate market?

Jun 20, 2022
The number of pending sales is down from last year, but homes are still selling quickly.
Mortgage rates have doubled since a year ago to about 6%, but homes are still selling swiftly.
Frederic J. Brown/AFP via Getty Images