The Pending Home Sales Index (PHSI), which tracks home sales based on contract signings, dropped 4.6 percent to 70.6 in January, marking an all-time low, while pending transactions fell 5.2 percent year over year.
Category: home prices
HUD raising FHA ceiling in high-cost markets to $1.2M next year
Adjustment for rising home prices increases FHA ceiling in high-cost markets like New York, San Francisco and Washington, D.C., and raises the floor in low-cost markets to $524,225.
Strong economy may prop up home prices, mortgage rates
Fannie Mae economists say surprising strength of the U.S. economy means home prices are likely to keep rising, and mortgage rates may not come down as quickly as previously expected.
2024 could be worst year for home sales since 1995: Fannie Mae
Falling mortgage rates should help boost home sales by nearly 10 percent next year, but in the meantime, inventory shortages and affordability challenges are keeping a lid on sales in many markets.
Swing state housing costs have skyrocketed since 2020 election
Housing affordability will remain an issue at the forefront of the upcoming presidential election, where swing states will determine the next president and the future of housing costs.
Nine out of 10 Americans agree: May was a bad time to buy a home
Elevated mortgage rates and home prices are creating challenges for many homebuyers, and 86% said May was a bad time to buy — a new high in Fannie Mae surveys dating to 2010.
Strength in home prices helped boost Fannie, Freddie 2023 profits
With a combined net worth of $125 billion after earnings this week, the mortgage giants remain on a path that could lead to eventual release from government conservatorship if political winds shift.
Rising rates and home prices stifle January market: Redfin
The Federal Reserve’s policy shift depressed homebuyer and homeseller activity in January, according to Redfin. Monthly new and active listing growth dropped to the lowest levels since last summer.
Homebuyer sentiment tallies record low amid falling rates
Fannie Mae economist warns that, while mortgage rates have retreated, the primary drivers of housing pessimism are persistent affordability challenges and worries about household finances.
Consumer homebuying sentiment has plateaued at ‘pessimistic’
Most Americans polled by Fannie Mae last month said they would rather buy than rent, but a record-high 82 percent also said August was a bad time to buy.