Home Prices Rose in 98 Percent of all U.S. Metros in Q3

An overwhelming majority of U.S. metro markets saw home price gains in the third quarter of 2022 despite mortgage rates that approached 7% and declining sales.

First Time U.S. Home Buyers Sink to Record Low in 2022

The National Association of Realtors reported this week that the share of first-time U.S. home buyers dropped to a record low in 2022, while the age of a typical first-time buyer increased to an all-time high.

Mortgage Rates Surpass 7 Percent in North America

According to Freddie Mac, the average rate on 30-year mortgages - the most popular kind among Americans - rose to the highest level since 2002.

Higher Interest Rates Further Hobble New Home Sales in the U.S.

The National Association of Home Builders reported this past week that rising U.S. mortgage rates reaching 7% along with declining builder sentiment stemming from stubbornly high construction costs and weakening consumer demand pushed new-home sales down at a double-digit rate in September 2022.

Newark Property News

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