67.6 F
Fort Worth
Tuesday, September 29, 2020
- Advertisements -
Real Estate Home sales in a rut

Home sales in a rut

Other News

Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Folk music’s Mark Twain: 7 Essential tracks from John Prine,

NEW YORK (AP) — Some people, the songs just come out of them. For nearly half a century, they tumbled out of John Prine...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Tradition stymied: A year unlike any since WWII for Augusta

The Masters is so intertwined with Augusta, they added an extra day to spring break.You see, the first full week of April isn't just...

Mortgage rates near historic lows haven’t helped. Neither has a solid job market. Sales of existing homes have tumbled 2.2% from a year ago to an annual pace of 5.27 million, according to the National Association of Realtors. All the factors that would normally encourage more purchases have failed to lift real estate out of its rut. There appear to be two major problems right now: Home prices are high. And there aren’t enough homes listed for sale. The problem is especially evident when prices are broken down by tier: Sales of homes priced under $250,000 have declined more than 10% from a year ago. The drop reflects a lack of entry-level homes on the market, leaving would-be buyers unable to purchase. But there has also been a drop-off in sales of homes priced above $750,000. These homes cost more than what most Americans can afford, given how the wealth gap has widened during the decade-long economic expansion. The result, for now, is that there aren’t enough homes at the bottom of the market and not enough affluent buyers at the top.

- Advertisements -
- Advertisements -

Latest News

Delta Hotels by Marriott to open in Southlake in November

Delta Hotels by Marriott announced on Sept. 28 that the official grand opening of the Delta Hotels by Marriott Dallas Southlake is scheduled for mid-November...

LanCarte leases industrial space to Pantera Ventures

LanCarte Commercial has leased 13,092 square feet of industrial space to Pantera Ventures LLC. The Industrial Building is located at 189 Bear...

RE Council of Greater Fort Worth presents State of Municipalities program

The Real Estate Council of Greater Fort Worth on Sept. 30, at 10 a.m. presents a program on the State of Municipalities.On...

Vision leases Airport Freeway location to OMG BBQ

Vision Commercial Real Estate on Sept. 28 announced Trenton Price, Senior Director at Vision Commercial, recently completed lease...

AC Hotel opens in Downtown Fort Worth

Downtown Fort Worth has another hotel with the 252-room, 16-story AC Hotel Fort Worth opening on Sept. 28. The first AC Hotels by Marriott to debut...