Homes selling near record high again as supply shortage worsens

Jul 17, 2023 · A worsening housing shortage drove up the price of U.S. homes in June to a near record high, even as would-be buyers grapple with steeper mortgage rates.

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Redfin Reports Supply Shortage Worsens, Propping Up Prices, As …

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Jun 8, 2023 · The monthly mortgage payment on the median-asking-price home hit a new record high of $2,651 at a 6.79% mortgage rate, the average for the week ending June 1. That’s up …

redfin.com

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Home Prices Hit Fresh Record Again Amid Worsening Supply Shortage

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Jul 11, 2023 · Median home prices climbed 0.7% in May from a month earlier, mortgage analytics firm Black Knight said in a recent report. Home prices are now 0.1% above where they were …

foxbusiness.com

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NJ Has A Severe Nursing Shortage. It Will Likely Get Worse - Bergen …

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Nov 25, 2024 · And it’s projected to get much worse. A 25% shortage of nurses in NJ by 2036. New Jersey will see a 25% shortage in the number of registered nurses to adequately care for …

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Existing Home Sales Fall For 6th Month As Supply Crunch Worsens

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Oct 19, 2023 · Available home supply remains down a stunning 45.1% from the typical amount before the COVID-19 pandemic began in early 2020, according to the report. U.S. Stock …

foxbusiness.com

FAQs about Homes selling near record high again as supply shortage worsens Coupon?

Why did home prices surge again in June?

U.S. home prices surged again in June to a near record high, reflecting a worsening inventory shortage that has pushed many would-be homebuyers out of the market. Median home prices jumped 1.9% in June from the previous month, hitting $426,056, according to a new report from real estate brokerage firm Redfin. ...

Will home price hikes be resolved soon?

U.S. home prices hit a new record high in November, marking the 10th consecutive month of price hikes. The problem is unlikely to be resolved anytime soon. "A more substantial improvement in mortgage rates is necessary to attract more sellers to the market," Realtor.com economist Jiayi Xu said in a statement. ...

Is the Housing Inventory shortage finally easing?

The housing inventory shortage that has been plaguing the U.S. for years appears to finally be easing, but a significant factor behind what is driving up supply provides little encouragement that the stagnant market will get moving again anytime soon. ...

How has the housing shortage impacted consumer demand?

The worsening housing shortage has also buoyed consumer demand. Homes sold on average in just 20 days last month. While that is down slightly from the 14 days recorded in July 2022, it marks a major increase from prior years. Before the COVID-19 pandemic, homes typically sat on the market for about a month before being sold. ...

Are home prices down?

Home prices are now down just 0.6% from where they were one year ago and down 1.5% from the record high hit in May 2022. "Today’s housing market is extraordinary; it feels hot even though there are very few homes changing hands," Redfin chief economist Daryl Fairweather said. ...

Why did the number of homes for sale increase in November?

A new report from Redfin says the number of homes for sale jumped to a four-year high in November, surging 12.1% year over year. But the major reason for the increase is that most homes on the market just aren't selling. ...