Real estate stocks have recently become oversold, presenting an opportunity for investors, according to BMO. Chief investment strategist Brian Belski noted that since the group has been a part of the S & P 500, there have only been a few other instances where the stocks have performed worse relative to the index on a
Real Estate
Recent trends in the housing market have shown a significant increase in mortgage rates compared to the beginning of the year. However, there was a slight pullback in rates last week after a continuous period of rising rates. This adjustment sparked new interest in refinancing among homeowners. The average contract interest rate for 30-year fixed-rate
As property values continue to soar, more Americans are finding themselves facing capital gains taxes on profits from the sale of their homes. According to a recent report from real estate data firm CoreLogic, nearly 8% of U.S. home sales in 2023 yielded profits exceeding $500,000, a significant increase from the 3% reported in 2019.
The dream of owning a home has become increasingly out of reach for renters, as highlighted in a recent survey released by the New York Federal Reserve. The survey found that the percentage of renters who believe they will one day be able to afford a home has reached a record low of 13.4% as
Renting a place in a major city can be a significant financial decision, particularly considering the high cost of living in these areas. Financial experts often recommend spending no more than around 30% of your pre-tax income on rent to ensure financial stability. Data collected in April from government websites and real estate marketplaces was
When mortgage rates begin to rise, consumers often find themselves seeking ways to lower their monthly payments. This search frequently leads individuals to consider adjustable-rate mortgages (ARMs). While ARMs typically offer lower interest rates compared to fixed-rate mortgages, they are also deemed riskier due to their potential to adjust to an unknown market rate after
The housing market continues to experience a surge in home values, driven by strong demand and limited supply. In February, home prices saw a significant increase of 6.4% year over year, marking the fastest rate of price growth since November 2022. Both the 10-city and 20-city composites also displayed notable gains, further emphasizing the upward
As spring approaches and the housing market picks up, buyers and sellers are closely monitoring the fluctuating mortgage rates. According to Freddie Mac data via the Federal Reserve, the average 30-year fixed-rate mortgage rose to 7.17% for the week ended April 25th, up from 7.10% the previous week. There is uncertainty surrounding when the Federal
Despite recent reports suggesting a scaling back of plans for Saudi Arabia’s $1.5 trillion NEOM megaproject, the kingdom’s economy minister, Faisal Al Ibrahim, has vehemently denied any such claims. In an interview with CNBC’s Dan Murphy at the World Economic Forum‘s special meeting in Riyadh, Al Ibrahim emphasized that all projects are moving full steam
In the current housing market, potential homebuyers are facing challenges such as low supply, high prices, and spiking interest rates. However, many are turning to new construction homes as a viable option. According to Nicole Bachaud, a senior economist at Zillow Group, new homes are offering more opportunities and incentives compared to previously owned homes.