AGP Executive Report
Last update: 4 hours agoU.S. Prices: Home prices posted their first annual decline in more than three years, slipping 0.1% as mortgage rates above 7% squeezed demand. The typical monthly mortgage payment rose 10.7% to $2,786, while more sellers cut asking prices. Affordability: A poll found 34% of renters who want to buy believe they’ll never afford a home; more than half say they can’t save a down payment. Australia: Prices have fallen for seven straight months, down 6.7% from March’s peak, with another rate rise threatening borrowing power and some first-time buyers facing negative equity. UK: House-price growth has weakened to its slowest pace since January 2024 as mortgage costs rise and buyer enquiries remain weak. Ontario: The real estate association welcomed development-charge reductions and temporary HST relief of up to $130,000 for eligible buyers of new homes priced up to $1 million.
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