Detroit Real Estate News
Detroit
U.S. Home Price Appreciation Accelerated in February
Like many economic metrics, the journey toward stabilizing the U.S. housing market is fraught with challenges. Although there has been a modest recovery in home sales and inventories from last year's lows, elevated mortgage rates continue to hamper affordability, deterring many potential buyers.
In Today's Economy, 58 Percent of U.S. Homeowners Can't Afford to Buy Their Current Home
According to a recent survey by national property broker Redfin, almost 58% of U.S. homeowners feel they probably couldn't afford to repurchase their current homes at today's prices and mortgage rates.
Automated Property Pricing Algorithms Bolster Price-Fixing Claims, Say DOJ
On March 28, 2024, the Antitrust Division of the U.S. Department of Justice (DOJ) intervened for the third time recently, backing plaintiffs in class action lawsuits challenging defendants' utilization of pricing software.
Driven by High Rates, U.S. Commercial Lending Imploded 47 Percent in 2023
In 2023, total commercial real estate mortgage borrowing and lending was estimated at $429 billion, marking a 47 percent decline from $816 billion in 2022, and a 52 percent fall from the record high of $891 billion in 2021.
