The slight uptick in first-time homebuying activity may be due to buyers seeking to take advantage of current rates in anticipation of potential higher mortgage rates in 2019.
At the national level, housing affordability is down from last month and down from a year ago.
The states with the highest estimated median property values in 2018 are The District of Columbia ($677,473), Hawaii ($649,272), California ($566,311), Massachusetts ($428,161) and Washington ($384,740).
How will declining home prices affect current homeowners and how does the current decline in home prices in some areas compare with the home equity gains?
Among sales that closed in October 2018, 72 percent had contract contingencies. The most common contingencies pertained to home inspection (58 percent), obtaining financing (43 percent), and getting an acceptable appraisal (40 percent).
The sharpest expected weakening is in the detached single-family homes market which accounts for about 80 percent of closed sales.
Based on data from the Profile of Home Buyers and Sellers, multi-generation homes are becoming more common and the importance of living close to friends and family.
Can Arlington County, VA, and Long Island City, NY, accommodate the influx that will be created by Amazon's new headquarters?
In the last 12 months, most of LinkedIn members who lived in the 20 largest metropolitan areas moved from a more affordable place to a less affordable place.
Properties sold most quickly in South Dakota (20 days), Idaho (21), Washington (21 days), Rhode Island (21 days), Indianapolis (22 days), Kansas (23), Massachusetts (23), Ohio (23), Utah (23), Colorado (24), Nevada (24), Nebraska (24), Maine (24), and Michigan (24).