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.
Based on CoreLogic's latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across major metropolitan areas, U.S. rent growth continued to relax year over year in July, falling to 3.1%.
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.
There were a total of 33,952 U.S. properties with foreclosure filings -- default notices, scheduled auctions or bank repossessions -- up 7 percent from a month ago but down 2 percent from a year ago.
U.S. homeowners with mortgages (which account for roughly 63% of all properties) saw home equity decrease by 1.7% year over year, representing a collective loss of $287.6 billion, and an average loss of $8,300 per borrower since the second quarter of 2022.
Posted on August 22, 2023