Investor purchasing of homes were down by 6% year-over-year in the first quarter, the lowest level since the start of the pandemic 2020. According to data from Redfin, the last time investors bought so few homes was in 2016. Real estate investors purchased 19% of...
Mortgage rates rose for the second straight week, according to Freddie Mac’s (OTCQB: FMCC) Primary Mortgage Market Survey. The 30-year fixed-rate mortgage averaged 6.53% as of May 28, up from last week when it averaged 6.51%, which marked a nine-month high. A year ago...
Sales of new single-family houses in April were at a seasonally adjusted annual rate of 622,000, according to estimates from the US Census Bureau and the Department of Housing and Urban Development. This marked a 6.2% decline from the March rate of 663,000 and a 11.3%...
A total of 1.57 million mortgages secured by residential property (one to four units) were originated in the first quarter, according to new data from ATTOM. This marked a 13% decline from the previous quarter, but it was also a 5% year-over-year increase. The total...
Florida Gov. Ron DeSantis has called for a special session of the state legislature during the week of June 1 to consider a constitutional amendment on residential property tax relief. In announcing the special session, DeSantis also presented his “Save Our Homes from...
The New York State legislature has approved Gov. Kathy Hochul’s proposal to enact a new tax on second homes in New York City valued at $5 million or more. The Wall Street Journal reports the so-called “pied-à-terre tax” is part of the state’s budget legislation and...
Hits and Misses for the Real Estate Week of June 8-12
