February sales in the Greater Toronto Area (GTA) were down substantially from the pre-rate hike levels of early 2022, according to the Toronto Regional Real Estate Board. However, the number of new listings also dropped substantially year-over-year. The result was that the average selling price and MLS® HPI continued to level off after trending lower […]
The post Home Sales and New Listings Drop in February for Greater Toronto Area appeared first on Weekly Real Estate News.
High mortgages and stubbornly elevated home prices are worsening the housing affordability crisis. A first-time homebuyer must earn roughly $64,500 per year to afford the typical U.S. “starter” home, up 13% from a year ago, […]
Sales of new US single-family homes surged to a 19-month high in September as builders offered price discounts and other incentives to woo buyers, but mortgage rates approaching 8% could curb demand. The larger-than-expected increase […]
Source: CBS News — Surging mortgage rates aren’t just raising the cost of purchasing a new home. An alarming number of recent homebuyers have discovered they already owe more on their property than it’s worth, […]
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