Housing market sees price cuts, but experts say more are needed

Aug 26, 2024 · Benzinga examines price cuts across the U.S. housing market and why they may not be enough to counteract a market dealing with high prices, rates and low inventory. …

9%
OFF

Here’s Where Economists Think The Housing Market Is Headed

2 weeks from now

Nov 12, 2024 · A forecast from NAR calls for 9% growth in home sales in 2025, but MBA data predicts a sluggish economy through 2027.

housingwire.com

4%
OFF

North Bergen Housing Market: House Prices & Trends | Redfin

2 weeks from now

The North Bergen, NJ housing market is somewhat competitive, scoring 53 out of 100. The average North Bergen house price was $515K last month, down 12.4% since last year.

redfin.com

$262
OFF

NJ's Affordable Housing Crisis Has Been Exacerbated By COVID

2 weeks from now

Feb 4, 2022 · She estimated that the state needed a $262 million targeted investment to provide stable, affordable housing for 14,000 people who stayed in shelters at one point during 2021.

northjersey.com

5%
OFF

Ask A Question Or Make A Comment - Sky News

2 weeks from now

1 day ago · Prices are rising more slowly than before and at 2.5% the rate of inflation is lower than economists expected. Chances of an interest rate cut next month are now higher, meaning …

sky.com

FAQs about Housing market sees price cuts, but experts say more are needed Coupon?

How is the housing market adjusting?

Despite a recent uptick in consumer price inflation to 3.2 percent annually that is preventing the Fed from cutting rates, Khater said the housing market is adjusting in a different way. "On the plus side, inventory is improving somewhat, which should help temper home price growth." ...

How do economists understand the housing market?

Rather, economists and industry experts say understanding the housing market requires looking at an array of data shedding light on different pieces of the puzzle. 1. It’s hard to find a home to buy. The rapid rise in interest rates pushed down demand for housing, by making it more expensive to borrow. ...

Is the housing market stuck?

For much of the past two years, the housing market — especially for existing homes — has been stuck. Buyers can’t afford homes unless either prices or interest rates fall. Owners feel little pressure to sell, and aren’t eager to become buyers. What could break the logjam? ...

Are higher mortgage rates affecting the housing market?

Elevated mortgage rates and higher home prices have made owning a home feel increasingly out of reach for many Americans. Last month, the Federal Reserve cut its benchmark interest rate by half a percentage point and signaled that more cuts are coming. But post-pandemic inflation has left scars on the housing market. ...

Why are housing prices rising?

Across the nation as a whole, housing prices rose than 5% over the last year. Driving the increase are higher mortgage rates, which makes homeowners reluctant to sell their properties given the elevated costs of finding a new place, coupled with a dearth of homes on the market. ...

Why are house prices going down?

Housing economists point to five main reasons that the market will not crash anytime soon: low inventory, lack of new-construction housing, large amounts of new buyers, strict lending standards/high credit scores and fewer foreclosures. Are house prices going down? No — quite the opposite, in fact. ...