The most recent pending home sales data from the National Association of Realtors indicated that home sales were likely to bounce back in the coming months after declining for several months in a row. It looks like that's just what is happening.
With what's happened in this country over the last 18 months, people have probably never cared more about where they live. As a result, people's interest in moving to a new city has arguably never been higher. Given that, here's a look at the top places to live in the U.S.
The state of the housing market, where there aren't many homes to buy and the ones that do hit the market keep getting more expensive, appears to be continuing to slow down the demand for mortgages.
A report from Fannie Mae last month showed that people were feeling worse about their homebuying prospects than they ever had before. Unfortunately, it looks like things have gotten even worse since then.
Forget California. The state where housing is about to be the hottest is Idaho. Seriously.
Jason Obradovich, CIO of New American Funding, is back with another episode of the Mortgage Rundown. The Fed released their minutes and the FOMC is divided - some worry about inflation, and some worry about risk to growth. Watch the full episode to learn more.
Thanks to consistently low mortgage interest rates, demand for mortgages has been elevated for the last 18 months, leading to the mortgage industry having its best quarter since 2000 two quarters in a row. However, that demand took a big step back at the end of June.
At a time when the housing market has never needed more homes to be listed for sale, there appears to be some light at the end of the tunnel.
It hasn't been a great few months for home sales, with existing home sales falling for four straight months. New home sales haven't been much better, declining in both April and May. But the home sales slowdown looks like it will be ending very soon.
Prior to May, new home sales had bounced back and forth between rising and falling in each month. But things changed in May. For the first time this year, new home sales fell for the second month in a row.