Property Invests
New home sales surged in March, reaching a peak since September 2024, driven by lower prices and mortgage rates. Sales increased 7.4% from February and 6% year-over-year, with cheaper homes fueling the market.
Housing market faces rising listings and economic concerns. Customer confidence is low, influenced by mortgage rates and economic worries. Experts suggest market could slow even if mortgage rates decrease.
Mortgage rates fluctuate amid bond market volatility. Home loan applications drop. Sellers & buyers must be strategic in the changing market. Inventory rises, home touring slows.
"But it's also possible that economic turmoil pushes down mortgage rates and/or people decide to bite the bullet now instead of waiting for conditions to perhaps worsen, encouraging homebuyers and sellers to jump into the market."
"While inventory is expected to increase and there is still a lot of pent-up demand, consumer anxiety and rising concerns about an economic downturn could hinder market activity."
A recent analysis of home prices, ownership rates and migration in 2024 found that homeownership has remained relatively stable over the past few years, even as affordability has worsened.
Ashley Yarabinec, Director of Member Relations at the Mortgage Bankers Association (MBA), noted that her generation knows how to use technology effectively, "but if the industry doesn't embrace that and bring in younger professionals, they'll fall behind.
Many people believed the election outcome wouldn't be clear for a day or more after polls closed — but Donald Trump's decisive victory has provided a bit of early certainty to investors, who now have a sense of what policy changes might be coming.
While speculation about tax hikes has been rife since Rachel Reeves announced that she was battling a big ‘black hole’ in the public finances, the changes Rightmove has seen coincide with Sir Keir Starmer’s 27 August Downing Street garden speech.
The August poll found that 16% of respondents expect a year-over-year increase in buyer traffic in the next three months — that's up from 13%, which was the percentage reported in both June and a year prior in July 2023.