This news has been received from: wtop.com

All trademarks, copyrights, videos, photos and logos are owned by respective news sources. News stories, videos and live streams are from trusted sources.

mail: [NewsMag]

INDIANAPOLIS (AP) — Indiana governor signs abortion ban, making his state the first to approve abortion restrictions post-Roe.

Copyright © 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

.

News Source: wtop.com

Leicester closing in on first signing 62 days after window opened with free transfer move for Alex Smithies

Next News:

Home prices hit a new record high in the second quarter

(CNN)Despite rising mortgage rates that dampened sales, home prices continued to climb higher in the second quarter, with many more cities seeing double-digit price gains than in the first part of the year.

The median single-family existing home price in the second quarter was $413,500 -- the first time this quarterly price has ever risen above $400,000, according to the latest quarterly report from the National Association of Realtors. Home prices for the quarter were up 14.2% from a year ago, slightly slower than the 15.4% year-over-year price increase experienced in the first quarter.
    A majority, 80%, of US metro areas saw double-digit home price increases last quarter, or 148 out of 185. That's up from 70% of cities in the first quarter.
      "Home prices have increased at a pace that far exceeds wage gains, especially for low- and middle-income workers," said Lawrence Yun, NAR's chief economist. Read MoreTogether with rising mortgage rates, which surpassed 5% during the second quarter, the continued increase in home prices has meant that it has become much harder to afford a home. Mortgage rates climb above 5% once againThe monthly mortgage payment on a typical existing single-family home with a 20% down payment skyrocketed by 32% quarter-over-quarter and by nearly 50% from one year ago, according to NAR's report.
        The monthly mortgage payment on a typical existing single-family home with a 20% down payment jumped to $1,841 last quarter, according to the report. That's an increase of $444 a month from the first quarter and $612 a month from a year ago. Families typically spent 24.3% of their income on mortgage payments, up from 18.7% the prior quarter and 16.9% one year ago. Generally, housing is considered "affordable" when a homeowner pays no more than 25% to 30% of their gross income for housing costs.First-time buyers typically spent 36.8% of their family income on mortgage payments during the second quarter, up from 28.7% in the previous quarter.On a typical $351,500 starter home with a 10% down payment loan, the monthly mortgage payment rose to $1,810 -- up $433 from the first quarter and up $597 from one year ago, according to the report. Cities with the biggest price hikesA family needed to earn at least $100,000 to afford a 10% down payment mortgage in 53 US markets, the report said. That's nearly double the 27 markets that fell into this category in the prior quarter. There were 23 markets where a family needed to earn less than $50,000 to afford a home -- places like Youngstown, Ohio; Syracuse, New York or Florence, South Carolina. That was down significantly from 63 markets in the previous quarter.Whats next for the US housing market"The local job market performance and supply availability are the clear distinguishing factors driving local home price growth," Yun said. "Job growth is positive and should be applauded, but supply restraints are creating unnecessary barriers to ownership opportunities."The South accounted for 44% of single-family existing-home sales in the second quarter and posted the largest price appreciation of 18.2%. Prices were up 12.7% in the West, 10.1% in the Northeast, and 9.7% in the Midwest during the quarter.The metro area that includes Fayetteville, Springdale and Rogers, Arkansas saw the biggest price increase in the second quarter with home prices up 31.9% from a year ago. Seven of the top 10 cities with the biggest annual price gains were in Florida, and all of them saw price increases of 25% or more from a year ago, including the Lakeland and Winter Haven area, up 31.4%; Naples, up 28.9%; Sarasota, up 28.8%; Tampa and St. Petersburg, up 28.0%; Cape Coral and Fort Myers, up 27.8%; Punta Gorda, up 27.4%; and Ocala, up 26.7%. Outside of Florida, other cities in the top 10 included Ogden, Utah, up 25.5% and the Myrtle Beach area of South Carolina, up 28.5%.Five of the 10 most expensive markets in the country were in California, including San Jose where the median price is $1.9 million, San Francisco with $1.55 million, Anaheim at $1.3 million, San Diego at $965,900 and Los Angeles at $825,700.Other high-priced cities include Honolulu, with a median price of $1.145 million; Boulder, Colorado at $933,400; Naples, Florida at $850,000; Seattle at $818,900; and Boston at $722,200.
          While national home prices are not expected to fall, softening sales are leading to price cuts and a slower rate of price appreciation in many markets, which could provide prospective buyers a small measure of relief, said Yun. "The recent dips in mortgage rates will bring additional buyers to market," he said. "Especially in those places where home prices are still relatively affordable and where jobs are being added."

          Other News

          • Giants Lose 3 Players Including Starter to Injury in Preseason Win
          • Ravens extend preseason winning streak to 21 with 23-10 win over Titans. Heres who stood out and who didnt.
          • Chicago Cubs top the Cincinnati Reds 4-2 in the Field of Dreams game on a picturesque night in Iowa
          • Orioles waste chances to score in 4-3 loss to Red Sox, fall behind in wild-card race
          • Boston Childrens Hospital scrubs videos touting gender-affirming hysterectomies for young girls after online criticism
          • Top female general becomes the FIRST ever woman to serve as deputy head of the Army
          • Ravens WR Tylan Wallace exits preseason opener vs. Titans with knee injury
          • Daniel Jones moves the ball but takes plenty of hits in first preseason action
          • Multiple Fights Breakout At Broncos Training Camp
          • Olivia Newton-John was an ‘angel’ says babysitter ‘who ended 1st marriage’ as she’s seen for 1st time after star’s death
          • Charlie Sykes Argues Wisconsin Democrats Gave Away a Chance to Unseat the ‘Most Vulnerable Republican Incumbent’ in 2022
          • How Chase Elliott Can Clinch the Regular-Season Title at Richmond
          • West Virginia governor declares state of emergency for jails
          • California News | Vice President Kamala Harris: Health care crisis after Supreme Court strikes down Roe
          • NEW POLL: Voters Approve of FBI Trump Mar-a-Lago Raid More Than Disapprove By 12 Points
          • The new MAGA: Mothers Against Greg Abbott seek to unseat Texas governor
          • More than half of GOP governor nominees have questioned or denied the legitimacy of the 2020 election
          • Indiana Republicans simultaneously pass legislation protecting babies lives and financially supporting pregnant women
          • Warriors Predicted to Repeat as Champs Next Year Over Unlikely Challenger