U.S. Housing Market Updates
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Report: Increase in Home Equity Originations, Debt Outstanding During 2024
Last year, roughly 39% of borrowers cited debt consolidation as the reason for applying for a home equity loan, compared to 25% during 2023. Continue Reading Report: Increase in Home Equity Originations, Debt Outstanding During 2024
Turnbridge Equities to Launch Construction on 37-Story Luxury Tower in Raleigh
The property will also feature approximately 7,500 square feet of retail space on the ground floor. Continue Reading Turnbridge Equities to Launch Construction on 37-Story Luxury Tower in Raleigh
Additional Reading: MOST POPULAR U.S. HOUSING MARKET News & Headlines
Mortgage Rates Continue Their Decline
The 30-year fixed-rate mortgage averaged 6.76% as of May 1, down from last week when it averaged 6.81%. Continue Reading Mortgage Rates Continue Their Decline
Report: Households Need to Earn $114,000 to Afford a Median-Priced Home
Five of the 10 markets with the highest required incomes to afford a home are in California. Continue Reading Report: Households Need to Earn $114,000 to Afford a Median-Priced Home
New Rent Hikes Coming to NYC’s Stabilized Apartments
The rent hikes will take effect on or after Oct. 1. Continue Reading New Rent Hikes Coming to NYC’s Stabilized Apartments
Los Angeles Sued by Rental Property Owners Group Over Rent Increase Freeze
AAGLA Board President Cheryl Turner complained about the “tremendous financial strain on the city’s rental housing providers.” Continue Reading Los Angeles Sued by Rental Property Owners Group Over Rent Increase Freeze
Hits and Misses for the Real Estate Week of July 17-21
New York Times Magazine writer Caity Weaver scoured the English countryside on a vague tip that Tom Cruise had a home in rural Britain. Continue Reading Hits and Misses for the Real Estate Week of July 17-21
Lionel Messi Goes Home Shopping in Palm Beach County
Although Messi owns condominiums in Miami, he does not want his family living in the city. Continue Reading Lionel Messi Goes Home Shopping in Palm Beach County
Florida’s Housing Market Struggles with Declining Sales
“As of the end of June, single-family inventory was 13.8% higher than a year ago,” said Florida Realtors’ Brad O’Connor. Continue Reading Florida’s Housing Market Struggles with Declining Sales
Serious Delinquency Rate Crashes to 17-Year Low
However, early-stage delinquencies (30-days late) increased by 19,000 (+2.2%) from May to 1.65 million. Continue Reading Serious Delinquency Rate Crashes to 17-Year Low
Year-Over-Year Applications for New Home Purchases Up for Fifth Straight Month
“New home purchase activity continues to be a bright spot,” said MBA’s Joel Kan. Continue Reading Year-Over-Year Applications for New Home Purchases Up for Fifth Straight Month
Juan Bueno Named President of Operations at Cortland
Bueno comes to Cortland from Avison Young, where he was the firm’s U.S. president. Continue Reading Juan Bueno Named President of Operations at Cortland
Guest Opinion: The Heavy Regulatory Burden Placed on Home Builders
“As home builders, we believe our customers have a right to choose the appliances and energy sources used in their homes,” said NAHB’s Huey. Continue Reading Guest Opinion: The Heavy Regulatory Burden Placed on Home Builders
New Record Set for Pennsylvania’s Median Sales Price
Pennsylvania’s home sales totaled 12,383 transactions, up 12% from May but down 19.5% from June 2022. Continue Reading New Record Set for Pennsylvania’s Median Sales Price
Freddie Mac Reports Decline in Mortgage Rates
“As inflation slows, mortgage rates decreased this week,” said Sam Khater, Freddie Mac’s chief economist. Continue Reading Freddie Mac Reports Decline in Mortgage Rates
