Welcome to today’s real estate news roundup! Stay informed about the latest updates in the housing market. Discover major housing and construction projects happening in Santa Cruz County, where you can learn how to make your voice heard. Explore housing market predictions for 2024, as experts analyze the current challenges of high mortgage rates, soaring home prices, and limited housing stock. Find out when home prices may become more affordable again. Additionally, delve into the NAHB/Wells Fargo Housing Market Index (HMI), a monthly survey that provides valuable insights into the single-family housing market. Stay updated on market conditions, sales forecasts, and the traffic of prospective buyers. Let’s dive into the exciting world of real estate!
Housing and construction projects in Santa Cruz County – Santa Cruz Local
Stay up to date on major housing and construction projects across Santa Cruz County and find out how to make your voice heard. Construction continues on a 205-unit housing project with shops at Pacific Avenue and Laurel Street in Santa Cruz on Oct. 19, 2022. (Stephen Baxter — Santa Cruz Local)
Learn more about housing and construction projects in Santa Cruz County
Housing Market Predictions For 2024: When Will Home Prices Be Affordable Again? – Forbes Advisor
As the spring home-buying season approaches, there are signs that buying and selling activity in the market may not fully bloom. High mortgage rates and home prices, coupled with low housing stock, continue to make homeownership out of reach for many. Experts predict a slower rise in home prices in 2024, but conditions such as increased inventory and cooling mortgage rates are needed for a housing recovery. Despite some hopeful signs, persistently high mortgage rates and limited inventory may hinder the market from flourishing. Find out more about the predictions for the housing market in 2024.
Read more about housing market predictions for 2024
Housing Market Index (HMI) | NAHB
The NAHB/Wells Fargo Housing Market Index (HMI) is a monthly survey that takes the pulse of the single-family housing market. It assesses market conditions for the sale of new homes at present and in the next six months, as well as the traffic of prospective buyers. The HMI is a weighted average of three component indices: Present Single-Family Sales, Single-Family Sales for the Next Six Months, and Traffic of Prospective Buyers. The index ranges from 0 to 100 and provides key insights into the housing industry. Stay updated on the latest developments and explore the rewards of building homes and communities.