FirstTimeHomeBuyer

New Home Sales Experience Modest Recovery After February's Weather-Induced Decline

2 months ago

In a sign of resilience in the housing market, new home sales in the United States saw a modest uptick in February 2023, reversing some of the significant losses experienced during the harsh winter months. According to data provided by the U.S. Census Bureau and the Department of Housing and Urban Development, new home sales rose by 1.1% from the prior month, reaching an annualized rate of 640,000 units. This rebound marks a noticeable recovery from January's disappointing figures, which were heavily impacted by severe weather conditions.

Hong Kong Announces Property Tax Reduction for Low-End Home Transactions

3 months ago

In a recent policy shift aimed at assisting first-time homebuyers and lower-income residents, Hong Kong's government has revealed plans to reduce property tax on low-end housing transactions. This development comes amidst a backdrop of soaring property prices, which have made homeownership an increasingly elusive goal for many in the vibrant metropolis.

Surge in U.S. Existing Home Sales Fueled by Recent Mortgage Rate Decline

7 months ago

In a positive development for the U.S. housing market, existing home sales saw a notable increase in October, driven largely by a decrease in mortgage rates. Recent data reveals that existing home sales rose by 1.4% from September, marking one of the few months of growth in a market that has been struggling with affordability and high borrowing costs. This uptick suggests a potential shift in consumer sentiment toward home buying as financing becomes more accessible.

US Previously Owned Home Sales Plunge to Nearly 14-Year Low: A Deep Dive

8 months ago

In the most recent economic update, previously owned home sales in the United States have reached their lowest levels in almost 14 years, a stark indication of the ongoing challenges facing the housing market. According to the latest report from the National Association of Realtors (NAR), the slowdown can be attributed to a combination of rising mortgage rates, limited inventory, and tightening economic conditions that are impacting both buyer sentiment and purchasing power.