Residential Real Estate News
Top Residential Real Estate News
U.S. Home Sales Dip 15 Percent Annually in August
Existing-home sales moved lower in August 2023. Among the four major U.S. regions, sales improved in the Midwest, were unchanged in the Northeast, and slipped in the South and West. All four regions recorded year-over-year sales declines.
Home Flipping Transactions Down in 2023, Profits Up
84,350 single-family homes and condominiums in the United States were flipped in the second quarter of 2023. Those transactions represented 8 percent, or one of every 13 home sales, during the months running from April through June of 2023.
U.S. Listings Inventory Rises 4 Percent in August
Based on Zillow's latest housing market report, there was an uptick of new U.S. residential listings in August 2023. Although sellers are still listing fewer houses than pre-pandemic norms, the monthly increase gave buyers a bit of relief in the midst of a long-standing drought of inventory.
The Fed Leaves Rates Alone for Now in September
This week the Federal Reserve left short-term interest rates alone, but signaled more hikes could be on the horizon in late 2023.
