Category: Housing market

It’s no secret that activity from home buyers and sellers slowed at the end of last year.

For one thing, mortgage interest rates peaked in the fall, when the average 30-year fixed rate topped 7%. Homes became less affordable to buy and the economy slowed, so fewer people entered the housing market in the Philadelphia area and nationally.

Both prices and home sales fell in the final months of 2022, according to a report on the Philadelphia housing market in the fourth quarter that Drexel economist Kevin Gillen released Thursday.

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Illustration: Shoshana Gordon/Axios

The housing market is showing signs of life after veering into a dead zone late last year.

Why it matters: These green shoots are a good sign for the economy overall, and run counter to some of the dire predictions made last fall when mortgage rates were skyrocketing.

What’s happening: Home buyers are making peace with higher mortgage rates, and sellers are making peace with the need to cut prices and make concessions.

While home prices will likely keep falling, there’s reason to think a recovery in sale activity is already underway.

By the numbers: Pending home sales were…….

Illustration: Shoshana Gordon/Axios

The housing market is showing signs of life after veering into a dead zone late last year.

Why it matters: These green shoots are a good sign for the economy overall, and run counter to some of the dire predictions made last fall when mortgage rates were skyrocketing.

What’s happening: Home buyers are making peace with higher mortgage rates, and sellers are making peace with the need to cut prices and make concessions.

While home prices will likely keep falling, there’s reason to think a recovery in sale activity is already underway.

By the numbers: Pending home sales were…….

Millennials, grab those keys. Illustration: Shoshana Gordon/Axios

The housing market is showing signs of life after veering into a dead zone late last year.

Driving the news: Pending home sales were up 3% nationwide in December, according to Redfin’s proprietary measure.

Why it matters: These green shoots are a good sign for the economy overall, and run counter to some of the dire predictions made last fall.

Home buyers are making peace with higher mortgage rates, and sellers are making peace with the need to cut prices.

Between the lines: Mortgage rates are dropping. Rates peaked at over 7% in November but h…….

Illustration: Shoshana Gordon/Axios

The housing market is showing signs of life after veering into a dead zone late last year.

Why it matters: These green shoots are a good sign for the economy overall, and run counter to some of the dire predictions made last fall when mortgage rates were skyrocketing.

What’s happening: Home buyers are making peace with higher mortgage rates, and sellers are making peace with the need to cut prices and make concessions.

While home prices will likely keep falling, there’s reason to think a recovery in sale activity is already underway.

By the numbers: Pending home sales were…….

Millennials, grab those keys. Illustration: Shoshana Gordon/Axios

The housing market is showing signs of life after veering into a dead zone late last year.

Driving the news: Pending home sales were up 3% nationwide in December, according to Redfin’s proprietary measure.

Why it matters: These green shoots are a good sign for the economy overall, and run counter to some of the dire predictions made last fall.

Home buyers are making peace with higher mortgage rates, and sellers are making peace with the need to cut prices.

Between the lines: Mortgage rates are dropping. Rates peaked at over 7% in November but h…….

Illustration: Shoshana Gordon/Axios

The housing market is showing signs of life after veering into a dead zone late last year.

Why it matters: These green shoots are a good sign for the economy overall, and run counter to some of the dire predictions made last fall when mortgage rates were skyrocketing.

What’s happening: Home buyers are making peace with higher mortgage rates, and sellers are making peace with the need to cut prices and make concessions.

While home prices will likely keep falling, there’s reason to think a recovery in sale activity is already underway.

By the numbers: Pending home sales were…….

Millennials, grab those keys. Illustration: Shoshana Gordon/Axios

The housing market is showing signs of life after veering into a dead zone late last year.

Driving the news: Pending home sales were up 3% nationwide in December, according to Redfin’s proprietary measure.

Why it matters: These green shoots are a good sign for the economy overall, and run counter to some of the dire predictions made last fall.

Home buyers are making peace with higher mortgage rates, and sellers are making peace with the need to cut prices.

Between the lines: Mortgage rates are dropping. Rates peaked at over 7% in November but h…….

The real estate industry could soon be upended, says star broker Jason Oppenheim.

Oppenheim – who leads a team of glamorous agents on Netflix (NFLX) reality series “Selling Sunset” – recently sat down with Yahoo Finance to talk about the current state of the U.S. real estate market. During the far-ranging conversation, he warned that the industry’s commission structure could soon change forever.

“To be specific about real estate agents, we’ve got federal regulators and a couple of lawsuits coming down the pipeline that at worst case could be an armageddon for real estate agents,” he said. “You might see regulators unc…….

Millennials, grab those keys. Illustration: Shoshana Gordon/Axios

The housing market is showing signs of life after veering into a dead zone late last year.

Driving the news: Pending home sales were up 3% nationwide in December, according to Redfin’s proprietary measure.

Why it matters: These green shoots are a good sign for the economy overall, and run counter to some of the dire predictions made last fall.

Home buyers are making peace with higher mortgage rates, and sellers are making peace with the need to cut prices.

Between the lines: Mortgage rates are dropping. Rates peaked at over 7% in November but h…….