The U.S. housing market is “making steady progress toward balance,” said Re/Max President and CEO Nick Bailey, as September’s slump in home sales led to a rebound in inventory.
With soaring mortgage rates and the median sales price of $400K up 6.7% from a year earlier, home sales fell 9.7% from August across 53 metro areas surveyed by Re/Max.
“Lack of existing inventory continues to drive buyers to new construction,” said NAHB Chief Economist Robert Dietz. The post Builders Express Renewed Confidence in Housing Market appeared first on Weekly Real Estate News.
Online bank Ally Financial recorded a $136 million impairment related to its investment in struggling digital mortgage lender Better.com, bank executives said Wednesday during the company’s third-quarter earnings call. The bank disclosed to shareholders and […]
The post US home prices slide in November for fifth straight month appeared first on Weekly Real Estate News.
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