Freddie Mac said the average rate on a 30-year home loan reached its highest level since 2002, which could increase costs for borrowers by hundreds of dollars a month.
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Arizona will not approve new housing construction on the fast-growing edges of metro Phoenix that rely on groundwater thanks to a multi-decade drought.
“We could be facing years, not months, of fewer home sales,” the CEO of Redfin said.
In the 50 largest U.S. metro areas, median rent rose 19.3% from December 2020 to December 2021, according to a Realtor.com analysis of properties with two or fewer bedrooms.
Southern Nevada home prices jumped 19.8 percent year-over-year in June, outpacing the national rate of 18.6 percent, according to a new report.
The Biden administration has extended the nationwide ban on evictions for a month to help tenants who are unable to make rent payments during the coronavirus pandemic.
U.S. homebuilders’ sales fell to its slowest pace in a year last month, and resales dropped for the fourth consecutive month. And it’s no different in Southern Nevada.
On average, people who moved to a different city in 2020 ended up in a ZIP code where average home values were nearly $27,000 lower than in their previous ZIP code, according to Zillow.
The fate of a nationwide eviction ban — set to expire June 30 — is in limbo after a judge overturned the federal protection on Wednesday.
The housing market has been a pillar of economic strength during the pandemic, but many would-be homeowners have met with frustration because of a low number of homes for sale and consistently rising prices.