As of this fall, nearly half of the top 50 housing markets in the U.S. are overvalued, according to the latest data from CoreLogic.
"The modest decrease in October's Home Purchase Sentiment Index is ... a shift we expect at this time of year moving out of the summer home-buying season," said Fannie Mae chief economist Doug Duncan. However, real estate agents are experiencing increased homebuyer frustration due to limited inventory and higher prices in housing markets, per CNBC.
While home prices continue to soar, rents, which had been overheating, are now cooling. CoreLogic's single-family rent index is up just 3 percent annually, less than half that of home prices ... Owning a home and building equity just narrowly outpaces renting a comparable property and investing in stocks and bonds, an index from Florida Atlantic University shows.
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