The WPJ

Philadelphia

Residential Rents in U.S. Upticked for Second Consecutive Month in May

According to Redfin, median U.S. asking rent rose 0.8% year over year in May 2024 to $1,653 -- the highest level since October 2022. That's the second consecutive increase (rents climbed 0.9% year over year in April) following 11 months of decreases. Rents rose 0.5% on a month-over-month basis.

U.S. Homes Sales Fell to One of Lowest Levels on Record in May

According to Redfin, U.S. home sales fell 1.7% month over month in May 2024 on a seasonally adjusted basis and dropped 2.9% from a year earlier.

U.S. Mortgage Applications Temporarily Spike 16 Percent in Early June

According to the Mortgage Bankers Association's latest Weekly Applications Survey for the week ending June 7, 2024, U.S. mortgage applications rose by 15.6 percent from the previous week.

U.S. Homeowners Enjoyed an Annual $28,000 Equity Gain in Q1

Based on CoreLogic's Homeowner Equity Report for the first quarter of 2024, U.S. homeowners with mortgages (which account for roughly 62% of all properties) saw home equity increase by 9.6% year over year.

Philadelphia Property News












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