For the quarter ending 3/31/2020, the average selling price of a new SFD home in Wake County was $431,983.
|Mortgage rates fall to an all-time lowThe average U.S. rate for a 30-year fixed mortgage fell to 3.29% this week, the lowest ever recorded by Freddie Mac in a series that goes back to 1971.|
|Federal Reserve makes emergency rate cut amid coronavirus fearsThe Federal Reserve unexpectedly cut its benchmark rate by half a percentage point in an effort to bolster the economy and calm coronavirus fears.|
|How much you need to make to own a home in the nation’s 15 biggest marketsIf a homeowner lived in one of the nation’s 15 largest cities, they would have to make $68,440 on average, to cover home payments. And that’s assuming the person doesn’t owe additional non-mortgage debt, according to the latest study from SmartAsset.|
America’s housing market is undersupplied by 3.3 million units, and the shortage is getting worse every year, Freddie Mac said in a report on Friday.
What a week for home sales data! New Home Sales spiked 7.9%, to a 764,000 annual rate in January, the hottest sales pace since 2007. Single-family home sales are now a healthy 18.6% higher than a year ago.