Despite rate hikes, Sioux Falls and Rapid City’s real estate markets remain hot

Despite rate hikes, Sioux Falls and Rapid City's real estate markets remain hot

Higher interest rates usually slow down a hot real estate market. But in Sioux Falls and Rapid City, these factors are not yet impacting the market. Since last April is the middle selling price of a home in Sioux Falls is up almost 28% – to more than $290,000. In the midst of this market, … Read more

Mortgage rates are rising again, pushing more buyers out of the housing market

Mortgage rates are rising again, pushing more buyers out of the housing market

Mortgage rates continue to rise as the Federal Reserve tries to tame unmanageable inflation. According to Freddie Mac, the 30-year fixed rate mortgage averaged 5.81% for the week ended June 23, up from 5.78% the week before. Rates averaged 3.02% this time last year, and the last time rates were this high was in the … Read more

Why LGBTQ homebuyers say rising mortgage rates are hitting them hard

Why LGBTQ homebuyers say rising mortgage rates are hitting them hard

Skandar Mrad, here on vacation in Italy, is looking for a home in the Los Angeles area. When Skandar Mrad decided to buy his first home late last year, his top priority was location. Mrad, a gay man living in the Los Angeles area, has spent much of his adult life commuting several hours a … Read more

ABS data shows Australian property market will surpass 10 tonne mark in 2022

ABS data shows Australian property market will surpass 10 tonne mark in 2022

The aggregate value of Australia’s residential property market has hit a new record, official figures confirm. The aggregate value of Australia’s residential property market has surpassed US$10 trillion for the first time, official figures confirm. The latest figures from the Australian Bureau of Statistics show that the value of the country’s 10.8 million homes rose … Read more

Have we passed the real estate peak?

Weekly property update from Jackson

(NewsNation) – As home prices hit record highs and mortgage rates rise, the message to potential buyers is simple — wait if you can. In recent months, the total number of new homes sold has started to fall, falling an estimated 16.6% from March to April, according to census data. The drop could indicate that … Read more

Will it keep bubbling or will it burst?

Will it keep bubbling or will it burst?

The real estate sign “SOLD with multiple offers” near the house purchased indicates hot bidding wars … [+] seller market. Zillow data shows that the number of homes for sale in the US fell below one million for the first time in December 2021. Buyers waiting for a crash are unlikely to see one any … Read more

How to compete against housing investors

How to compete against housing investors

Podcast host Nikki Hynes lost her dream home last summer. Despite offering $15,000 over list price, the sellers instead chose an investor — one that offers cash payments and a lightning-fast 14-day closing period. “We were devastated,” says Hynes. “We also began to worry that if we made $15,000 and were beaten by cash offers, … Read more