U.S. Home Sales Slide 15 Percent Annually in October

Among the four major U.S. regions, sales slid in the Northeast, South and West but were unchanged in the Midwest. All four regions experienced year-over-year sales declines.

One-Third of U.S. Home Sellers Give Concessions to Buyers

Based on new data from Redfin, U.S. home sellers gave concessions to buyers in 35% of U.S. home sales during the three months ending Oct. 31, 2023. That's about the same as one year earlier, but up from 27.6% from two years ago.

U.S. Commercial, Multifamily Mortgage Delinquencies Increase in Q3

According to the Mortgage Bankers Association's latest commercial real estate finance Loan Performance Survey, U.S. delinquency rates for mortgages backed by commercial and multifamily properties increased during the third quarter of 2023.

Driven by High Rates, U.S. Buyers Must Earn $115,000 to Buy a Typical Home in 2023

According to Redfin, a homebuyer must earn $114,627 to afford the median-priced U.S. home, up 15% ($15,285) from a year ago and up more than 50% since the start of the pandemic. That's the highest annual income necessary to afford a home on record.

Tallahassee Property News

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