By Jing Fu on November 28, 2023 • National home prices continued to increase in September. Despite rising mortgage rates, limited inventory and solid but weakened demand provided solid support for home prices. Locally, all of 20 metro areas had positive home price appreciation in September. The S&P CoreLogic Case-Shiller U.S. National Home Price Index,
Elevated mortgage rates that averaged 7.62% in October per Freddie Mac, the highest rate since 2000, depressed buyer demand and pushed down new home sales in October. Sales of newly built, single-family homes in October fell 5.6% to a 679,000 seasonally adjusted annual rate, following a notable downward revision in September, according to newly released
Americans have been in a grumpy mood of late. Pessimism stood at “overwhelmingly high” levels, Gallup reported in mid-October, echoing similar grim readings from the University of Michigan and other pollsters. But perceptions aren’t entirely matching reality, at least when it comes to financial, economic and money issues. With one month left, 2023 is shaping
Results show that there’s preventative work to be done. Cyberattacks was a big topic in early November as Ace Hardware dealt with an event that impacted shipments and online orders. The Oak Brook, Illinois-based co-op said its systems were back in business about a week after the initial report of the breach. Meanwhile, a recent
Existing home sales in October fell to the lowest level since August 2010, as limited inventory and higher mortgage rates continued to weigh on homebuyers, according to the National Association of Realtors (NAR). Low resale inventory and strong demand continued to drive up existing home prices, marking the fourth consecutive month of year-over-year median sales
Key Insights NAHB Housing Market Index decreased from 40 in October to 34 in November. Industrial Production declined by 0.6% month-over-month in October. SP500 settled near the 4510 level as traders stay focused on a more dovish Fed. On November 16, the National Association of Home Builders released NAHB Housing Market Index report for November.