The numbers: After two consecutive months of decline, the index of pending home sales soared 44.3% in May as compared with April, the National Association of Realtors reported Monday.The monthly increase was the largest ever since...
For the past several years, the trend among many luxury homebuyers in the U.S. has been clear: bigger isn’t necessarily better.Buyers who could easily have sprung for sprawling estates have instead opted for so-called “jewel...
The coronavirus pandemic has led to a dramatic decline in mortgage rates. But that doesn’t mean now is a good time to refinance for everyone.Last week, Freddie Mac reported that mortgage rates hit a new...
The middle of a pandemic-induced recession, with millions of people out of work and the future uncertain, does not seem like the best time to drop big bucks on a home. That is, unless...
The numbers: Sales of newly-built single-family houses occurred at a seasonally-adjusted annual rate of 676,000 in May, the government reported Tuesday.That represented a 16.6% increase from the downwardly-revised pace of 580,000 in April. Compared with the...
Sales of previously owned homes dropped 9.7% in May from the prior month, as the coronavirus pandemic kept shoppers indoors during the typically busy spring homebuying season.But record-low interest rates have lured buyers off the sidelines...
Millions of Americans are out of work. But for many, tapping their home equity isn’t an option.New home-equity lines of credit dropped 19% from March through May compared with the same time last year,...
The numbers: Construction of new houses rose 4.3% in May as a reopening U.S. economy and ultra-low mortgage rates drew more buyers and encouraged builders to start to speed up work.Housing starts climbed to an...
An official recession, a deadly pandemic, and a national reckoning on racism aren't blunting the housing market's rebound.As the summer home-buying season gets underway, median home prices are surging. They shot up 4.3% year...
Anyone who's planning to buy a home, or thinking about refinancing the loan on their current abode, has probably been giving mortgage interest rates a lot of attention—and getting frustrated as they fluctuate up...