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The St. Joe Newsroom
Mortgage rates are approaching 7%, and the Real Estate market in the USA is facing ominous signs.
High borrowing costs are squeezing demand, leading to a nearly 7% drop in the MBA's mortgage application index for the week of the 27th, falling to its lowest level since mid-November.
Mortgage Rates Inch up to Start the Year at a Near Six-month High. Will the Housing Market Become More Affordable in 2025?
The St. Joe Company Releases the Fall/Winter Issue of "Watersound Lifestyle," the Watersound Club Member Magazine
November US Construction Spending Flat, Residential Building Up
In October, house prices in the USA reached a new high, but the growth rate slowed down. An increase in listings helped buyers negotiate, with New York leading the top 20 cities.
The latest data shows that in October, the USA housing price Index reached a record high for the 17th consecutive month, although the growth rate slowed down with a year-on-year increase of 3.6%, down from 3.9% in September. In addition, prices in the 20 major cities rose by 4.2% year-on-year, also a slowdown from the previous month's 4.6%, with New York City experiencing the highest increase at 7.3%.
October Case-Shiller US Home Price Index Declines Further
October FHFA Home-Price Index Rises as Expected, Up Solidly Year-Over-Year
November Pending Home Sales Rise to Highest Level Since February 2023, NAR Says
The USA's November existing home sales Index reached a new high since the beginning of 2023.
In November, the USA's existing home sales Index has increased for the fourth consecutive month on a month-on-month basis. NAR's Chief Economist Lawrence Yun stated that consumers seem to have readjusted their expectations for mortgage rates and are taking advantage of more available inventory. Buyers are no longer waiting or expecting a significant drop in mortgage rates.
U.S. Pending Home Sales Rose in November
November US Pending Home Sales Index Posts Larger Gain Than Expected
Real Estate stocks experienced a slight pullback at the end of the year, with the first signs of recovery emerging in 2025.
Although the performance of the Real Estate Sector in 2024 did not meet that of the Large Cap, the market shows an optimistic outlook for 2025.
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HELOCs Plummet to Fresh 2024 Lows, Home Equity Loans Unchanged as the Holidays Arrive
November New-Home Sales Increase Less Than Expected
Daily Roundup of Key US Economic Data for Dec. 23
Durable Goods Orders, New Home Sales Data to Shape Tuesday's Markets
U.S. New-Home Sales Gain Despite Mortgage Pressures