World News
Typical Monthly Mortgage Payment Up $337 in Last 6 Weeks in U.S.
According to national property broker Redfin, a typical U.S. homebuyer's monthly mortgage payment has climbed $337 (15%) over the past six weeks to a new high of $2,547.
Luxury Home Sales in U.S. Plummet 28 Percent Annually in Q3
Sales of luxury U.S. homes fell 28.1% year over year during the three months ending Aug. 31, 2022. That's the biggest decline since at least 2012, eclipsing the 23.2% plunge that occurred when the onset of the coronavirus pandemic brought the housing market to a near standstill roughly two years ago.
Architectural Design Services Uptick in August
According to a new report from The American Institute of Architects, demand for design services from U.S. architecture firms grew at an accelerated pace in August 2022.
Rising Interest Rates Driving London Area Home Sellers to Act Now
United Kingdom's national estate agency Jackson-Stops recently analyzed Rightmove data and conducted a national poll of active home movers across the UK to reveal that interest rates are driving an increase of homes for sale across the market.
U.S. New Home Sales Uptick in August
The National Association of Home Builders reports that a brief, but short decline in mortgage rates helped to boost new home sales in August 2022, but sales are expected to move on a downward trend in the months ahead as rates have since moved higher and builder sentiment continues to fall due to declining housing affordability and ongoing supply chain bottlenecks.
