Remove Construction Remove Days on market Remove Marketing Remove Residential
article thumbnail

Residential real estate activity picks up despite low inventory

Housing Wire

Residential real estate activity picked up in most Districts despite continued low inventories of homes for sale,” the report states. Boston – Contacts around the District attribute the still-low sales numbers to low inventories more than to weak demand, as slightly lower mortgage rates have helped bring more buyers to the market.

article thumbnail

Inventory needs to increase to balance housing market: Fed Beige Book

Housing Wire

High inflation has reduced consumers’ purchasing power, which has led to weakened sales and construction across all 12 Federal Reserve districts. While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. However, housing affordability worsened.

Marketing 383
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Fed’s Beige Book predicts further uncertainty for the housing market  

Housing Wire

Interest rates and inflation continued to dampen activity in the housing market across all 12 Federal Reserve districts, according to the Fed’s latest Beige Book. The Fed’s short-term rate does not directly impact long-term mortgage rates, but it does steer market activity to create higher rates and reduce demand.). trillion from $2.34

Marketing 322
article thumbnail

Fed’s Beige Book shows recent moderation in mortgage rates propped up demand for homes

Housing Wire

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday.

Mortgages 355
article thumbnail

The nation’s housing market is on a correction course

Housing Wire

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. Freddie Mac projects that home-price growth will average 12.8%

Marketing 393
article thumbnail

Will the Housing Market Maintain Its Momentum?

Keeping Current Matters

Some see this as evidence that the red-hot real estate market may be cooling. Days-on-market are swift, multiple offers are prevalent, and buyer confidence is rising.” ” Yun’s insight was supported the next day when the Census Bureau released its Monthly New Residential Sales Report.

Marketing 248
article thumbnail

Fed’s Beige Book offers grim news for housing industry

Housing Wire

The economic standoff between rising inflation and rising interest rates continues to weaken the housing market nationwide, with home sales falling across all 12 Federal Reserve districts, according to the Fed’s latest Beige Book report. The Fed’s Federal Open Market Committee is slated to meet July 26-27. “A