Weekly Housing Headlines

Home prices continued to cool in September as homebuyers struggled with inflation fatigue, according to the latest CoreLogic S&P Case-Shiller Index; mortgage application payments increased by 4.2%; new home sales dropped sharply in October after a strong showing in September; the NAR’s 2024 Migration Trends Report shows that people are heading south for more affordable housing; and Zillow predicts a more favorable market in 2025, while Fannie Mae forecasts sales growth at 17% for 2026.

U.S. Home-Price Growth Slows With Market Swinging In Buyers' Favor
Financial Advisor - 11/26/2024
A national gauge of prices rose 3.9% from a year earlier, according to data from S&P CoreLogic Case-Shiller. That was smaller than the 4.3% increase in August.

Mortgage Application Payments Increased 4.2 Percent to $2,127 in October
Mortgage Bankers Association - 11/26/2024
Homebuyer affordability conditions declined notably in October as rapidly rising mortgage rates pushed the national median mortgage payment up $86 from September.

New Home Sales Cool Down in October
Realtor.com - 11/26/2024
The number of new homes sold fell to 610,000 on a seasonally adjusted annual basis, down 17.3% from September 2024 and down 9.4% from October 2023.

Americans Are On the Move — and They’re Heading South To Get More Home for Their Money
Realtor.com - 11/25/2024
The National Association of Realtors has released the first 2024 Migration Trends Report, which shows that people are heading south for more affordable housing, lower or more favorable tax rates and better job market opportunities.

Zillow: Housing Market Activity Will Pick Up in 2025, But it Will be a Bumpy Ride
MortgageOrb - 11/25/2024
Zillow is predicting a more active housing market in 2025, but those hoping to buy — or even refinance — should buckle up for a bumpy ride and be ready to move when conditions are right.

Fannie Mae lowers 2025 housing market expectations
Mortgage Professional America - 11/22/2024
Fannie Mae projects existing home sales to grow by only 4% in 2025, a downgrade from its earlier forecast of an 11% increase. The 2024 pace of existing home sales is on track to hit a nearly 30-year low.

More Than Half Of Boomers Never Plan To Sell Their Homes
Financial Advisor - 11/22/2024
Roughly 61% of boomers currently own homes, and among this group, more than half (54%) never plan to sell, according to new research from Clever Real Estate.

Home Repair Costs Rise Quarterly
MortgagePoint - 11/22/2024
According to the Q3 2024 Verisk Remodel Index, the cost of home repairs and remodeling in the third quarter of 2024 continued to increase, rising by 1.08% quarter-over-quarter, and just over 3.35% from the third quarter of.

Most People Who Move Do It To Save on Housing
National Mortgage Professional - 11/25/2024
According to a new migration study from StorageCafe, nearly half of all recent arrivals to Arizona from California buy houses within the first year at their new locations, often saving $1 million in the process.

Intergenerational Communities: A Blueprint for Expanding Housing Alternatives
MortgagePoint - 11/26/2024
Intergenerational residential communities, designed to support individuals of all ages in affordable, socially engaging settings, are emerging as a solution to address challenges like social isolation and housing costs.