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Modest Increase in Home Listings The recent decrease in mortgage rates has led to more homeowners listing their properties, yet the modest increase in home listings is still not enough to bring the housing market's inventory back to pre-pandemic levels. Active listings in the U.S. rose by 4.9% in December year-over-year, with a significant 9.1% increase in new listings. Despite this uptick, the market...

In December, the Fannie Mae Home Purchase Sentiment Index (HPSI) increased by 2.9 points to 67.2, mainly due to a rise in consumers expecting mortgage rates to drop over the next year. A record 31% of those surveyed predict lower mortgage rates, and 17% consider it to be a good time to buy, up from the previous record low of 14%. Mark Palim of Fannie Mae notes this shift in expectations follows recent...

2024 Real Estate Predictions Lawrence Yun, the National Association of Realtors® (NAR) Chief Economist, has analyzed the U.S. residential real estate market, noting high mortgage rates, elevated home prices, and limited inventory as ongoing challenges. He projected an 18% decrease in home sales for 2023, following a previous 17% drop in 2022, largely due to rising interest rates. Yun said he expects...

The National Flood Insurance Program is expiring at the end of September, unless congress makes a move to change that. There is no guarantee that they will, as the NFIP is likely tied to a bill that may or may not pass. While they may make a short-term move to prevent the expiration from causing problems, if you're in the process of purchasing a property right now, this article has important information...