Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • How We Are Different
  • Debbie Young
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • Your Survival Guy
  • The Great Reset
  • The Swiss Way
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • COVID-19
  • Dick Young
  • Key West
  • Paris
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Bank Credit & Money
  • Your Survival Guy’s Super States
  • NNT & Cholesterol
  • Work to Make Money/Invest to Save Money
  • Your Health
  • Ron Paul
  • US Treasury Yield Curve: My Favorite Investor Tool

Home Prices Hit New Record, Even as Rates Rise

April 21, 2022 By The Editors

By Mike Focus @ Shutterstock.com

Homebuyers are facing record-high prices at the same time rates charged for mortgages are beginning to rise. Nicole Friedman reports for The Wall Street Journal:

U.S. home prices soared to a new record in March while mortgage rates continued to rise rapidly, slowing home sales in what has been the hottest housing market in more than 15 years.

Existing-home sales fell 2.7% last month from February, the National Association of Realtors said Wednesday. March sales fell 4.5% from a year earlier.

The rise of remote work and the pursuit of more space unleashed a powerful wave of home buying when Covid-19-related lockdowns started to ease in the middle of 2020. The frenzied housing market, supported by ultralow interest rates at the time, lifted home prices throughout the country. Homes for sale often stayed on the market for less than a month, and sometimes only days, while open houses could draw lines around the block.

Now, that frenzy is starting to ease and the volume of home sales is reverting to pre-pandemic levels, said Lawrence Yun, chief economist for the National Association of Realtors. With mortgage rates at 5% and back to their highest level since 2011, Mr. Yun said he expects home sales in 2022 to decline 10% from last year.

The combination of higher borrowing rates and an extremely low inventory of homes for sale has led some buyers to give up. Purchase mortgage application volume was down 3% last week from a week earlier and down 14% from a year ago, according to the Mortgage Bankers Association’s seasonally adjusted index.

 

If you’re willing to fight for Main Street America, click here to sign up for the Richardcyoung.com free weekly email.

Related Posts

  • Record Low Rates
  • Despite Falling Prices, Drillers on Pace for Record U.S. Oil Production
  • VIDEO: Home Security
  • Donald Trump’s Bragging Record
  • Author
  • Recent Posts
The Editors
Latest posts by The Editors (see all)
  • Who Paid Indian Hackers to Infiltrate the Rockefeller Family Fund? - March 30, 2023
  • BIDEN’S BORDER: Massive Caravan of Illegal Immigrants Enters El Paso - March 30, 2023
  • Are Banks Now a Bargain? - March 28, 2023

Dick Young’s Must Reads

  • CONSTITUTIONAL CARRY: Alabama Becomes 22nd Permitless Carry State
  • The County Sheriff: America’s Last Hope
  • “An Epic Struggle Over the Definition of America”
  • America’s States Rights Revolution
  • Your Survival Guy’s 2022 Super States: #1 New Hampshire
  • Can Ginger Combat Heart Disease and Improve Circulation?
  • Victor Davis Hanson: How to Bust DC’s Stronghold
  • Why Investors Should Forget Prices and Focus on Income
  • V4 Stands Against North African and Middle Eastern Invasion
  • “I Need Preservation of Principal and Growth”

Our Most Popular Posts

  • Freefalling at Stanford
  • Is Vanguard Voting Against Your Political Beliefs?
  • The Forgotten America
  • Does Anyone Still Think Ron Paul Was Wrong?
  • Rand Paul Surprises Moderna CEO with Inside Information about Myocarditis Risk
  • Biden's Fake Democracy Summit: Hungary and Turkey Snubbed
  • “You Just Have to Be Willing to Move Defensively”
  • Your Survival Guy’s #1 Habit of Fairly Successful People
  • Dick & Debbie: Over Three Decades in Key West
  • What’s John Kerry Doing in Mexico?

Disclosure

RSS Youngresearch.com

  • BEWARE: The Road to Digital Currencies
  • Another Habit of Highly Successful and Fairly Wealthy People
  • The Greatest Threats to the American Economy
  • Your Survival Guy’s #1 Habit of Fairly Successful People
  • New Regulation Coming for CDS Market?
  • “You Just Have to Be Willing to Move Defensively”
  • Americans Are Fleeing Bank Deposits
  • If You’re a Highly Effective Person, We Should Talk
  • Trouble Now Brewing at Deutsche Bank
  • Is Vanguard Voting Against Your Political Beliefs?

RSS Yoursurvivalguy.com

  • BEWARE: The Road to Digital Currencies
  • Bad Guys Have Guns, Targets Must be Hardened
  • Another Habit of Highly Successful and Fairly Wealthy People
  • The Greatest Threats to the American Economy
  • Is America about to Deploy Star Wars-like X-Wings on the Battlefield?
  • Your Survival Guy’s #1 Habit of Fairly Successful People
  • Western Real Estate: From Zoom to Bust
  • “You Just Have to Be Willing to Move Defensively”
  • Did SVB Fail Because of Climate Change?
  • If You’re a Highly Effective Person, We Should Talk

In Chicago, Education Connects the Dots

BEWARE: The Road to Digital Currencies

Sen. Ted Cruz Has a Plan to Stop Biden’s Supreme Court Packing Scheme

Who Paid Indian Hackers to Infiltrate the Rockefeller Family Fund?

BIDEN’S BORDER: Massive Caravan of Illegal Immigrants Enters El Paso

Bad Guys Have Guns, Targets Must be Hardened

Copyright © 2023 | Terms & Conditions | About Us | Dick Young | Archives