Witkoff Group Chairman and CEO Steve Witkoff assesses the volatile real estate market and the impact soaring mortgage rates have had on the U.S. economy.
Applications to build — which measures future construction — fell to an annual rate of 1.53 million units. Houses under construction at the Norton Commons subdivision in Louisville, Kentucky, US, on Friday, July 1, 2022. The data comes one day after the National Association of Home Builders/Wells Fargo Housing Market Index, which measures the pulse of the single-family housing market, fell for the eleventh consecutive month to 33, marking the worst stretch for the housing market since the survey launched in 1985.
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Housing market’s October big chill in Colorado wasn’t limited to the Front RangeStatewide, the number of new listings for single-family homes fell by more than 20% between September and October, which wasn’t quite as severe as the 25% drop experienced in metro Denver. Colorado is turning into California. Expect it to get worse, much worse. I hope they all go broke and go back to destroying the states where they came from. Lol you think thats a 'deep freeze'? Just wait.
Source: denverpost - 🏆 13. / 72 Read more »
Housing starts fall again as high mortgage rates scare off U.S. home buyersConstruction on new houses fell 4.2% in October as high mortgage rates deterred buyers and forced builders to scale back, a situation that's likely to...
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Active agents down 34% in Phoenix in October - Phoenix Business JournalA Florida tech company that publishes a sales profile for real estate agents is seeing a considerable decline in the number of residential real estate agents in Phoenix.
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