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Housing Supply at 5-Year High, Demand at 5-Year Low

Housing Supply at 5-Year High, Demand at 5-Year Low

by Phil Hall | Feb 13, 2025 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

A new data report from Redfin determined that housing supply in January was at its highest level since 2020, but demand for housing was at its lowest level since 2020. Pending home sales in January dropped to their lowest recorded level aside from the start of the...
Mortgage Rates in Further Decline

Mortgage Rates in Further Decline

by Phil Hall | Feb 13, 2025 | Current News & Events, Mortgage Information, Real Estate News, U.S. Housing Market, WRE News Exclusive

Mortgage rates continued to tumble in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.87% as of Feb. 13, down from last week when it averaged 6.89%. A year ago at this time, it averaged...
Report: Typical Homebuyer Pays Roughly 2% Less Than the List Price

Report: Typical Homebuyer Pays Roughly 2% Less Than the List Price

by Phil Hall | Feb 12, 2025 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The average home listing is now selling for 1.8% its asking price, the biggest discount in nearly two years, according to a new data report from Redfin (NASDAQ: RDFN). Adding insult to injury, the typical home that sells takes 56 days to go under contract, the longest...
Mortgage Application Activity, Credit Availability on the Rise

Mortgage Application Activity, Credit Availability on the Rise

by Phil Hall | Feb 12, 2025 | Current News & Events, Mortgage Information, Real Estate News, U.S. Housing Market, WRE News Exclusive

More people were filling out mortgage applications during the week ending Feb. 7, according to data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, increased 2.3% on a seasonally adjusted...
January Foreclosure Activity Up 8% Month-Over-Month

January Foreclosure Activity Up 8% Month-Over-Month

by Phil Hall | Feb 11, 2025 | Current News & Events, Market Snapshot, Mortgage Information, Real Estate News, U.S. Housing Market, WRE News Exclusive

A total of 30,816 residential properties carried foreclosure filings in January, according to new data from ATTOM. This is up 8% from December and down 7% from January 2024. Nationwide, one in every 4,618 housing units had a foreclosure filing last month. The states...
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