By the Numbers

Mortgage applications decline despite drop in interest rates
Mortgage applications decline despite drop in interest rates

“Mortgage rates decreased for the first time since August, as concerns about supply-chain bottlenecks, waning consumer confidence, weaker economic growth and rising inflation pushed Treasury yields lower.” — MBA associate vice president of economic and industry forecasting Joel Kan

NAR: Pending-home sales slide 2.3% in September
NAR: Pending-home sales slide 2.3% in September

“Contract transactions slowed a bit in September and are showing signs of a calmer home price trend, as the market is running comfortably ahead of pre-pandemic activity.” — NAR chief economist Lawrence Yun

S&P CoreLogic Case-Shiller: Home prices rise again
S&P CoreLogic Case-Shiller: Home prices rise again

Home-price gains were once again broadly distributed, as all 20 cities in the S&P CoreLogic Case-Shiller Home Price Index rose, although in most cases at a slower rate than a month ago.

Mortgage applications rise despite increase in interest rates
Mortgage applications rise despite increase in interest rates

At the same time, the increase in interest rates drove fewer borrowers to refinance their loans, according to the Mortgage Bankers Association.

Housing market starts to balance in September, giving buyers more choices, time
Housing market starts to balance in September, giving buyers more choices, time

The month also saw a slight shift in inventory, even though shortages continued.

New-home sales rebound in September as prices hit new record
New-home sales rebound in September as prices hit new record

“There simply aren’t enough homes for sale relative to the demand fueled by millennials armed with low mortgage rate-driven house-buying power.” — First American Deputy Chief Economist Odeta Kushi

NAR: Existing-home sales rebound in September
NAR: Existing-home sales rebound in September

The median existing-home price for all housing types in September was $352,800, up 13.3% on an annual basis, as every region in the country registered price increases.

Which Houston zip codes are the most expensive?
Which Houston zip codes are the most expensive?

As the intense demand for homes continues to outmatch supply nationwide, buying a home is becoming an increasingly expensive feat.  The median value of a home in the U.S. is $281,370, an 11.6% increase over the last year. Meanwhile,

New-home construction cools in September
New-home construction cools in September

The decrease was driven by a 5.1% month-over-month slide in the rate of multifamily starts, while single-family construction was flat.

RE/MAX: Houston housing market takes a pause in September
RE/MAX: Houston housing market takes a pause in September

Days on market rose 7.4% from August, and months supply of inventory slid 5.6%, according to RE/MAX’s National Housing Report. 

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