World News
U.S. New Home Sales Uptick in December
The National Association of Home Builders is reporting that while new U.S. home sales posted a modest gain in December 2022, elevated mortgage rates and higher construction costs continue to hinder housing affordability and put a damper on consumer demand.
Despite Slowing Housing Market in 2022, Miami Enjoyed Second Best Year in History
According to the Miami Association of Realtors, Miami-Dade County's real estate market sold 31,627 total homes (or 86 transactions per day) in 2022. That's the second all-time sales rate in Miami-Dade County history, behind only the 39,394 homes sold in 2021.
U.S. Mortgage Rates Ticked Down in Late January
According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 6.13 percent as of January 26, 2023.
Mortgage Delinquency Rates in U.S. Near Historic Lows in November
According to CoreLogic's latest monthly Loan Performance Insights Report for November 2022, 2.9% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 0.7 percentage point decrease compared to 3.6% in November 2021.
High U.S. Housing Costs Drove Record Relocations in 2022
National property broker Redfin is reporting that a record one-quarter (24.6%) of Redfin.com users looked to move to a different metro area in the fourth quarter of 2022. That's up from 22.1% a year earlier and around 18% before the pandemic.
