News about housing

More than 90% of metro markets posted home price gains in the first quarter of 2024, according to the latest NAR quarterly report. bit.ly/4bxgech

NAR Chief Economist Lawrence Yun forecasts that interest rates will fall in the long term and 2024 existing-home sales will rise to 4.46 million during the Residential Economic Issues & Trends Forum at the REALTORS® Legislative Meetings. bit.ly/3JPz2Yg #NARLegislative

Talk to any buyer today & they'll tell you there aren't a lot of 🏠 for sale But active 🏠 listings in the GTA were in line with the 10-year avg Sales were 35% below the avg The bigger issue is that there aren't a lot of affordable homes for sale www.movesmartly.com/articles/delayed-rate-cuts-chill-torontos-spring-real-estate-market

Purchase mortgage apps ticked up this week to 144.2 In the Altos data, we can see home sales picking up slightly over last year, even though the mortgage applications are still below. Hypothesizing that this is due to more cash purchases now. pic.twitter.com/W3IXuHVWGm