U.S. Housing Market Updates
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Florida is Home to 7 of the 10 Most Overvalued Housing Markets
The Cape Coral metro is the most overvalued housing market, with buyers paying a 47.99% premium on the typical home.
Sunstone Two Tree to Build Three BTR Communities in Phoenix Metro Area
Sunstone Two Tree now has nine BTR communities totaling close to 1,500 units in various stages of development in Arizona.
Additional Reading: MOST POPULAR U.S. HOUSING MARKET News & Headlines
Mortgage Rates at Highest Peak in Almost 23 Years
The 30-year fixed-rate mortgage averaged 7.31% as of Sept. 28, up from last week when it averaged 7.19%.
Three Frank Lloyd Wright Homes Now Listed for Sale
Two homes are being sold together in Michigan and the third is in Milwaukee.
ATTOM: Affordable Homeownership Opportunities Continued to Evaporate During Q3
“The dynamics influencing the U.S. housing market appear to continuously work against everyday Americans,” said ATTOM CEO Rob Barber.
Fewer Pending Home Sales During August
“Mortgage rates have been rising above 7% since August, which has diminished the pool of home buyers,” said Lawrence Yun, NAR chief economist.
Now Listed: Train Caboose in the Georgia Woods, $42K, No Utilities or Running Water
What do you get for your money? Well, to be frank, not a great deal.
Guest Opinion: Putting a New Effort into Expanding the Housing Supply
Housing affordability has become increasingly urgent for many Americans over the past decade due to insufficient production and rising demand.
CFPB Mortgage Report: Higher Closing Costs, More Denials for Insufficient Income
Average monthly mortgage payments increased more than 46% last year, from $1,400 in December 2021 to $2,045 in December 2022.
Mortgage Application Activity Declines Again
Both the seasonally adjusted and the unadjusted Purchase Index dropped 2% from one week earlier.
Fannie Mae Launches Spanish-Language Program for Hispanic Homebuyers
“We’re committed to a future where everyone has fair access to sustainable housing,” said Fannie Mae CEO Priscilla Almodovar.
Realtor.com Unveils Renovation Calculator for Homeowners Planning Property Upgrades
Users are presented with estimated renovation costs and the potential increase in their home value.
Christie’s Opens Office in Park City, Utah
The founding agents recorded more than $340 million in closed transaction volume in 2022.
26% of US Homebuyers Seeking to Relocate Elsewhere in the Nation
he California capital of Sacramento is the most popular destination for relocating homebuyers.
US Housing Market Value Up 49% from the Start of the Pandemic
The housing market’s total value is slightly less than $52 trillion.
Exclusive WRE Articles
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A total of 33,952 residential properties had foreclosure filings in August, up 7% from the previous month but down 2% from one year earlier, according to data from ATTOM.
Nationwide, one in every 4,113 housing units had a foreclosure filing last month.
https://wrenews.com/foreclosure-activity-records-uptick-in-august/
Mortgage application activity went into decline again last week, according to data from the Mortgage Bankers Association (MBA).
The Market Composite Index, the trade group’s measure of mortgage loan application volume, was down by 0.8% #JoelKan #MBA
https://wrenews.com/mortgage-application-activity-down-again/
The Appraisal Institute has launched its Practical Applications of Real Estate Appraisal (AI PAREA) program to expand the depth and scope of the appraiser profession.
The Appraisal Foundation’s Boardof Trustees awarded a $500,000 Pathway to Success
https://wrenews.com/appraisal-institute-debuts-program-to-expand-appraiser-base/
