If it seems like there's a new 'house prices just hit a record high' story every month, it's because there is. But it isn't just how high home prices are rising; it's also about just how fast they are rising.
While homebuying may have picked up in June, new data shows that the increase may have been felt only in the sales of existing homes.
There's some good news on the new home front, as construction of new single-family homes continued increasing in June. But the news isn't all good as prices continued rising as well.
It appears that neither rising home prices nor a lack of available inventory can slow down the housing market these days, as a new forecast shows that home sales are still expected to increase this year over last year.
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.
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