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From Boom to Bust: Austin’s Real Estate Rollercoaster
Austin, Texas, emerged as one of the hottest real estate markets in the country during the COVID-19 pandemic, as Americans sought refuge in the Sun Belt. However, the once red-hot market is now experiencing a rapid decline in property values and rents, leading some analysts to suggest it’s still overvalued by 35%. The pandemic-induced shift […]
St. Louis Tops List for First-Time Homebuyers in 2024, Midwest a Affordable Option
St. Louis has been named the top US market for first-time homebuyers in 2024, according to Zillow’s list of the 10 best cities for new buyers. The Midwest region, including Detroit, Minneapolis, Kansas City, and Indianapolis, dominated the list, emphasizing its appeal for new buyers. Zillow ranked these cities based on rent affordability, the share […]
Analyzing the Dynamics of the San Francisco-Oakland-Fremont Housing Market
As of March 29, 2024, the San Francisco-Oakland-Fremont metropolitan area ranked fourth in the nation’s hottest housing markets. With a 90-day average Market Action Index score of 61.19, the Bay Area metro remained a competitive seller’s market, though local agents believe it could be even more robust. Factors influencing the market include a slight downturn […]
Mortgage Rates Inch Up, Dampening Hopes for Immediate Rate Cuts
Recent increases in mortgage rates have further complicated the prospect of significant rate cuts for homebuyers in the near future. The average rate for a 30-year loan crept past 7% this week, settling at 7.07% on Wednesday, according to Mortgage News Daily. This uptick comes as a separate measurement tracking weekly average rates rose to […]
Mortgage Rate Trends: Expectations and Market Realities
Mortgage rates are anticipated to decrease later this year, potentially benefiting homebuyers. However, the impact of this reduction could be tempered by developments in the market for financial instruments linked to mortgages. In recent years, uncertainties surrounding inflation and mortgage rate trends have prompted investors to seek higher yields for mortgage-backed securities (MBS) compared to […]
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