Homebuyers still shopping despite coronavirus-fueled pessimism

For the quarter ending 3/31/2020, the average selling price of a new SFD home in Wake County was $431,983.

Will Fed bond-buying drive fixed mortgage rates below 3%?

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.

U.S. housing market is missing 3.3 million homes, Freddie Mac says

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.