The Norris Group Real Estate Radio Show and Podcast: Real Estate News

Friday, September 15, 2023

Real Estate News

Today's News Synopsis:

According to Forbes, "It’s not a good time to buy"—it's a phrase that has echoed throughout the U.S. over the past year or two. Shockingly low housing inventory, high price tags and record-setting interest rates are making it tough for some would-be buyers to achieve homeownership.

In The News:

CoreLogic - "US Home Price Insights – September 2023" (9-12-2023)

"Home prices nationwide, including distressed sales, increased year over year by 2.5% in July 2023 compared with July 2022. On a month-over-month basis, home prices increased by 0.4% in July 2023 compared with June 2023"

Forbes - "Going Against The Grain: Millennials’ Impact On The Housing Market" (8-31-2023)

"As anger and frustration over racism and police brutality grip the nation, real estate executives and business leaders are promising change — and pleading for peaceful protest."

Mortgage Bankers Association - "Commercial and Multifamily Mortgage Delinquency Rates Increased in Second-Quarter 2023" (9-12-2023)

"Commercial and multifamily mortgage delinquencies increased in the second quarter of 2023, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Delinquency Report."

National Association of Realtors -"Pending Home Sales Elevated In July" (8-30-2023)

"The small gain in contract signings shows the potential for further increases in light of the fact that many people have lost out on multiple home buying offers," said NAR Chief Economist Lawrence Yun.