Housing Market Archives - Morris Invest

Record-Breaking Gap Between U.S. Home Sellers and Buyers Hits 500k

13-J0000006-1999 | Affordable Housing Crisis, Housing Market

The U.S. housing market is facing a significant gap between those selling homes and those looking to purchase a property, with 500,000 more properties listed for sale compared to the number of buyers. As reported by Redfin, the numbers came in at 1.9 million active...

Mortgage Applications and Pending Home Sales Plunge as Housing Supply Rises

13-J0000006-1999 | Affordable Housing Crisis, Housing Market, Mortgage Rates

As the spring housing season wraps up this month, a great number of prospective buyers and sellers are held back as both pending home sales and mortgage applications continue on a downward trend. For buyers, high property prices, continually elevated mortgage rates,...

Housing Market Struggles as Mortgage Rates Reach Highest Level in Three Months

13-J0000005-1999 | Housing Market, Mortgage Rates

The spring season, known for being the busiest time of the year for home purchases, just took another hit as mortgage rates rose to a three-month high this week. According to Freddie Mac, the average rate on a 30-year fixed mortgage reached 6.86% as of May 22nd, which...

Mortgage Rate Dip Overshadowed by Economic Volatility Keeps Homebuyers on the Sidelines

13-J0000005-1999 | Affordable Housing Crisis, Economic Indicators, Housing Market, Mortgage Rates

Mortgage rates dipped this week, according to Freddie Mac, with the average rate on a 30-year fixed home loan landing at 6.76%, down from 6.81% the previous week. This may seem like a hopeful move in the right direction, but homebuyers and sellers are not taking the...

March Home Sales Fell 5.9% – Largest Decline in Over Two Years

13-J0000004-1999 | Home Affordability Crisis, Housing Market, Mortgage Rates

The housing market faced a challenging start to the critical spring season as many potential buyers sat on the sidelines, waiting out economic uncertainty. Because of this, existing home sales fell in March, resulting in the steepest monthly drop since 2022, which...

Report Reveals Homeowners Must Earn 81.8 Percent More Than Renters to Make Home Affordability Possible

13-J0000004-1999 | Affordable Housing Crisis, Housing Market, Mortgage Payments, Rental Property

A recent Redfin report highlights the income gap between the average homeowner and renter, emphasizing that home affordability is out of reach for many Americans. The data found that homeowners needed to earn a little over $50,000 more than renters, which comes to a...