Philadelphia
Real Estate News

Mortgage Rates Hit 3-Year Low in U.S.

Mortgage Rates Hit 3-Year Low in U.S.

Freddie Mac's latest Primary Mortgage Market Survey is reporting this week that the 30-year fixed-rate mortgage in the U.S. was the lowest in three years. As rates fell for the third consecutive week, markets staged a rebound with increases in manufacturing and service sector activity. Read More »


Mortgage Applications Uptick in Early February

Mortgage Applications Uptick in Early February

Mortgage applications increased 5.0 percent from one week earlier. The previous week's results included an adjustment for the Martin Luther King Jr. holiday. Read More »

U.S. Builder Confidence in the 55+ Housing Market Dips in Q4

U.S. Builder Confidence in the 55+ Housing Market Dips in Q4

The National Association of Home Builders' latest 55+ Housing Market Index is reporting this week that U.S. builder confidence in the single-family 55+ housing market dropped four points to 68 in the fourth quarter of 2019. Read More »

Pending Home Sales in U.S. Dive 4.9% in December

Pending Home Sales in U.S. Dive 4.9% in December

According to the National Association of Realtors, pending home sales in the U.S. fell in December 2019, taking a step back after increasing slightly in November 2019. Read More »


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Global Property Spotlight

Grand Tetons Wonderland - (Driggs, Idaho)

Grand Tetons Wonderland - (Driggs, Idaho)

Huntsman Springs is golf and club community developed by Jon Huntsman, Sr. A place of serenity and beauty in the hitherto undeveloped Teton Valley of Western Idaho. Read More »

Last Updated February 13, 2020 9:00 AM ET

Philadelphia Property News

According to new research by Zillow, the total value of every home in the U.S. is $33.6 trillion, nearly as much as the GDP of the two largest global economies combined -- the U.S. ($20.5 trillion) and China ($13.6 trillion).

According to the Mortgage Bankers Association's newly released Mortgage Credit Availability Index (MCAI), U.S. mortgage credit availability decreased in December 2019. The MCAI fell by 3.5 percent to 182.2 in December.

According to a new U.S. housing report from Redfin, just 9% of offers written by Redfin agents on behalf of their homebuying customers faced a bidding war nationwide in December 2019, down from 12% a year earlier and setting another new 10-year low.

Based on CoreLogic's latest Home Price Index for November 2019, U.S. home prices rose both year over year and month over month. Home prices increased nationally by 3.7% from November 2018. On a month-over-month basis, prices increased by 0.5% in November 2019.

The oldest Millennials, who will turn 40 in 2020, have lived through a turbulent decade of housing marked first by the initial recovery from the Great Recession, then the extraordinary home value growth of recent years.

According to the National Association of Realtors, existing-home sales fell in November 2019, taking a small step back after October's gains. The Northeast and Midwest both reported growth last month, while the South and West saw sales decline.

Demand for design services in November 2019 increased at a modest pace for the second month in a row. During November, both the new project inquiries and design contracts scores were positive, posting scores of 60.9 and 52.9 respectively.

US home builder confidence in the market for newly-built single-family homes increased five points to 76 in December 2019 from an upwardly revised November 2019. This is the highest reading since June of 1999.

There were 49,898 U.S. properties with foreclosure filings in November 2019, down 10 percent from October 2019 and down 6 percent from a year ago. Nationally, one in every 2,713 properties had a foreclosure filing in November 2019.

Zillow research is reporting this week that after strong home value growth characterized a frenzied housing market in 2017 and 2018, this year's slowdown felt like a welcome return to normalcy.

According to a new report from Redfin, ten percent of offers written by Redfin agents nationwide on behalf of their homebuying customers faced a bidding war in November 2019, down from 29% a year earlier and hovering at the 10-year low for the 5th consecutive month.

According to CoreLogic's latest Home Price Index for October 2019, U.S. home prices rose both year over year and month over month. Home prices increased nationally by 3.5% from October 2018. On a month-over-month basis, prices increased by 0.5% in October 2019.

According to new research by Zillow, Baby Boomers in the U.S. are set to leave their homes at record levels in the coming years, freeing inventory in what has been an increasingly tight market since the economic recovery began.

The National Association of Realtors is reporting this week that pending home sales in the U.S. retreated in October 2019, taking a slight step back after two prior months of increases.

More than 55 million U.S. travelers are making plans to kick off the holiday season with a trip of 50 miles or more away from home.

According to a new report from CBRE, new trends are in store for retailers and shoppers this shortened holiday retail season include an earlier start to holiday promotions, new collaborations to shorten delivery windows and pare their cost.

U.S. restaurant industry and the retail real estate it occupies are being reshaped by fundamental industry shifts including the rapid growth of third-party, meal-delivery services, increasing adoption of in-store automation, and the ongoing proliferation of fast-casual concepts.

The housing market continues to steadily gain momentum with rising homebuyer demand and increased construction due to the strong job market, ebullient market sentiment and low mortgage rates


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