Cleveland Real Estate News
Cleveland
U.S. Home Sales Dip 15 Percent Annually in August
Existing-home sales moved lower in August 2023. Among the four major U.S. regions, sales improved in the Midwest, were unchanged in the Northeast, and slipped in the South and West. All four regions recorded year-over-year sales declines.
Home Flipping Transactions Down in 2023, Profits Up
84,350 single-family homes and condominiums in the United States were flipped in the second quarter of 2023. Those transactions represented 8 percent, or one of every 13 home sales, during the months running from April through June of 2023.
Mortgage Applications Uptick in U.S. Amid High Rates
According to the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending September 15, 2023, U.S. mortgage applications increased 5.4 percent from one week earlier. Last week's results included an adjustment for the Labor Day holiday.
Home Purchase Cancellations Accelerating in the U.S.
According to national property broker Redfin, residential real estate deals are falling through at the highest rate in almost a year as high mortgage rates give homebuyers sticker shock.
