More Americans Own Their Homes, but Black-White Homeownership Rate Gap is Biggest in a Decade, NAR Report Finds
While the U.S. homeownership rate increased to 65.5% in 2021, the rate among Black Americans lags significantly (44%), has only increased 0.4% in the last 10 years and is nearly 29 percentage points less than White Americans (72.7%), representing the largest Black-White homeownership rate gap in a decade.
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Economist: Mortgage Rates Will Dip Below 6% Soon
After doubling from a year ago, rates likely will experience less volatility in 2023, says NAR Director of Forecasting Nadia Evangelou.
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5 Trends That Defined the 2022 Real Estate Market
Housing was on a roller coaster this year, going from a homebuying frenzy to a standstill. These market dynamics will carry into 2023.
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President Pierce: A Time of Opportunity
By Michael Pierce, 2022 KCRAR President With lower home sales, higher interest rates, and rising inflation, it is easy to fall into the mindset that your business growth will be an inevitable victim of circumstance. In reality, this is a time of great opportunity for business growth. There are no circumstances that can hinder your growth as a professional […]
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NAR Finds Share of First-Time Home Buyers Smaller, Older Than Ever Before
National Association of REALTORS® Key Highlights At just 26%, the share of first-time buyers was the lowest since NAR began tracking the data. The typical first-time buyer was 36 years old – an all-time high. The median distance between the home that recent buyers purchased and the home from which they moved was 50 miles […]
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Kansas City Housing Forecast Predicts 6.5% Appreciation Rate in 2023
Kansas City home values will rise next year but at a much slower rate than this year, according to the 2023 Kansas City Housing Forecast published by the Wichita State University Center for Real Estate. Presented in print and digital booklets, these forecasts are offered for every major metro area in the state of Kansas […]
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Median Home Sales Price Up 8.4% Nationally in September
National Association of REALTORS® Key Highlights Existing-home sales sagged for the eighth consecutive month to a seasonally adjusted annual rate of 4.71 million. Sales slipped 1.5% from August and 23.8% from the previous year. The median existing-home sales price increased to $384,800, up 8.4% from one year ago. The inventory of unsold existing homes declined […]
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Happy Halloween? Mortgage Rates Average 6.66%
By Melissa Dittmann Tracey, REALTOR® Magazine Despite a slight decrease this week in mortgage rates, the average for the 30-year fixed-rate loan remains more than double what it was a year ago, adding hundreds of dollars per month to financing costs for home buyers. This is prompting more buyers to retreat from the market: Mortgage […]
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Existing-Home Sales Slipped 0.4% Nationally in August
National Association of REALTORS® Key Highlights Existing-home sales decreased for the seventh straight month to a seasonally adjusted annual rate of 4.80 million. Sales tailed off 0.4% from July and 19.9% from the previous year. The median existing-home sales price rose 7.7% from one year ago to $389,500. After five successive monthly increases, the inventory […]
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Pending Home Sales Slipped 1.0% in July
National Association of REALTORS® Pending home sales dropped slightly by 1.0% from June. It was the second straight monthly decline and the eighth in the last nine months. Pending sales fell in three of four major regions, with the West posting a small increase. Compared to the prior year, contract signings declined by double digits […]
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