The falling rate of annual home-price increases is a trend that occurred throughout 2024, which peaked last February at 6.6%. It’s also significantly lower than the double-digit increases from 2022, when price appreciation hit 20% or more multiple times. “Higher mortgage rates, along with high home prices, have exacerbated affordability challenges and led to slower
So far, the price drops are minor. Oregon has the biggest decline at 0.9%, followed by Georgia (0.8%), Montana (0.2%), South Carolina (0.3%) and Texas (0.1%). Prices in three other states — Florida (0.2%), South Dakota (0.3%) and Louisiana (0.4%) — have grown, not fallen, but by less than 1%. The cooling in Texas and
iStock illustration Heading into the spring home-sales market, inventory in New England’s biggest metro areas had fallen even further behind last year. For those hoping for a spring market with more choice – potentially helping some prospective sellers feel comfortable pulling the trigger and listing – it’s not a good sign. “Affordability is still a
Unsold inventory in the two biggest housing markets in the country, Texas and Florida, declined this week. There are fewer homes for sale now than a week ago. Inventory seems to have peaked for the season and is slowly inching down. There appears to be two reasons we’re seeing a seasonal peak in unsold inventory
Have lower mortgage rates already started to slow down housing inventory? I have a simple weekly growth model with the Altos inventory data: when rates are high, over 7.25%, inventory should grow between 11,000-17,000 weekly. This has happened six times this year and even though that would be an average inventory growth level with higher