New York City Real Estate News
New York City
Percentage of All Cash Buyers Declined in America in Late 2022
National property broker Redfin is reporting roughly one-third (31.2%) of U.S. home purchases were paid for with all cash in December 2022. That's up from 28.8% a year earlier but down from the eight-year high of 31.9% hit in November 2022.
U.S. Builder Confidence Becomes Cautiously Optimistic in February
According to the National Association of Home Builders, two consecutive solid monthly gains for U.S. builder confidence, spurred in part by easing mortgage rates, signal that the housing market may be turning a corner even as builders continue to contend with high construction costs and building material supply chain logjams.
Commercial, Multifamily Lending in U.S. Expected to Fall to $684 Billion in 2023
According to a new forecast released this week by the Mortgage Bankers Association, total U.S. commercial and multifamily mortgage borrowing and lending is expected to fall to $684 billion this year, which is a 15 percent decline from an expected 2022 total of $804 billion.
U.S. Mortgage Rates Begin to Rise, Again
After falling for five straight weeks, U.S. mortgage rates jumped last week, triggering a decline in U.S. mortgage demand. Total mortgage application volume fell 7.7% last week.
New York City Property News
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