New York City Real Estate News
New York City
U.S. Home Sales Slip Again in August, Seventh Consecutive Month
According to the National Association of Realtors, existing-home sales in the U.S. experienced another dip in August 2022, marking the seventh consecutive month of declines.
Home Buyers Retreat as Mortgage Rates Hit 6 Percent in U.S.
National broker Redfin reports that as U.S. mortgage rates reach 6 percent, seasonally-adjusted new listings of homes for sale have fallen 8% from July to August 2022 to their lowest level since May 2020, when the housing market was paralyzed by the onset of the COVID-19 pandemic. Prior to the pandemic, we hadn't seen so few homes hit the market since November 2012.
Commercial, Multifamily Mortgage Delinquencies in U.S. Remain Low in Q2
According to the Mortgage Bankers Association's latest Commercial/Multifamily Delinquency Report, U.S. commercial and multifamily mortgage delinquencies declined in the second quarter of 2022.
One-Third of U.S. Homes Were Bought in Cash in July, Above Pre-Pandemic Levels
According to national property broker Redfin, nearly one-third (31.4%) of U.S. home purchases were paid for with all cash in July 2022. That's near the eight-year high reached in February and up from 27.5% a year earlier. The share of all-cash purchases jumped in early 2021 during the pandemic-driven homebuying frenzy and has remained elevated since then.
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