HOUSING MARKET DOWNTURN – IS A RECESSION ON THE HORIZON?

The second half of 2022 has seen declining house prices. However, prices remain up year-on-year based on steady price gains in the first half of the year. The decline in pricing is, in part, driven by higher mortgage rates hitting affordability of housing. However, most markets have not seen year-on-year declines in house prices yet and regional trends mean the west coast is being hit harder than other...

New Home Construction Slows Across North America in 2022

Slowdowns Specifically Strong in Post-Covid Hot Markets According to the latest findings from the National Association of Home Builders (NAHB) Home Building Geography Index (HBGI) for the third quarter of 2022, the big jump in single-family home building activity that occurred in the aftermath of the COVID-19 pandemic in large metro outlying counties and exurban areas has shown a marked decline over the...

2023 Home and Design Trends to Watch

While homeowners compile their holiday wish lists, we’ve compiled a list of 12 home and design trends experts think will be next year’s stars. Architecture and design experts weigh in on what’s emerging in 2023. As the new year emerges, lifestyle changes due to the pandemic continue to hold strong. Cutting home expenses and conserving resources are top of mind for many. Move over, granite: These...

A Holiday Gift to Home Buyers: Lower Mortgage Rates

© Jupiterimages - The Image Bank/Getty Images If all your buyers want for Christmas is a lower mortgage rate—they may just get it. The 30-year fixed-rate mortgage averaged 6.33% this week, according to Freddie Mac, dropping for the fourth consecutive week after hitting a high of 7.08%. Mortgage rates are falling due to increasing concerns about lackluster economic growth, says Freddie Mac...

Global Home Prices Still Rising in 2022, But at Much Slower Pace

Yet South Korea, Hong Kong, Peru, China, New Zealand and Morocco experienced price declines in Q3 According to international property consultant Knight Frank, house prices across 56 countries and territories are still rising at a rate of 8.8% per annum, down from 10.9% at their peak in Q1 2022. However, in real terms, when accounting for inflation, house prices are now declining by 0.3% year-on-year....

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