U.S. Housing Market Updates
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Mortgage Application Activity Drops as Home Prices Rise
The first quarter home prices were up on a year-over-year basis in 49 states and the District of Columbia; Hawaii was the lone state with a price decline. Continue Reading Mortgage Application Activity Drops as Home Prices Rise
Buffalo Council Approves 8% Property Tax Hike
Acting Mayor Scanlon put forth the 8% property tax levy increase proposal last month, claiming it would generate around $13.7 million. Continue Reading Buffalo Council Approves 8% Property Tax Hike
Additional Reading: MOST POPULAR U.S. HOUSING MARKET News & Headlines
Société immobilière Bélanger Acquires Quebec City Multifamily Portfolio for $143 Million
The properties are located on both sides of the St. Lawrence River. Continue Reading Société immobilière Bélanger Acquires Quebec City Multifamily Portfolio for $143 Million
Home Equity Fintech Splitero Expands Into Five States
“We are happy to support families in reaching their financial goals,” said Michael Gifford, CEO and founder of Splitero. Continue Reading Home Equity Fintech Splitero Expands Into Five States
Nominations Sought for Lowe’s Hometowns Community Revitalization Program
$10 million in grants will be allocated to fund 100 renovations and complete an additional 1,700 improvement projects. Continue Reading Nominations Sought for Lowe’s Hometowns Community Revitalization Program
The Jeff Bezos-Backed Real Estate Company Is On A Buying Spree For Single-Family Homes
Source: Yahoo --- The real estate investment platform backed by Amazon.com Inc founder Jeff Bezos has continued ramping up its acquisitions of single-family rental homes in several U.S. markets. Arrived Homes acquires single-family homes to use as rental properties,...
4 Surprising Reasons Homebuyers’ Real Estate Deals Fall Through Today: Could Yours Be Next?
Source: Realtor.com --- Owning a home is the American dream, but at the moment it’s more like homebuying cancel culture. According to a 2022 survey by home warranty site Cinch Home Services of 1,000 Americans who have tried to buy or sell a home in the past year, more...
Why the Fed’s housing reset risks a global recession
Source: Housing Wire --- When Federal Reserve Chairman Jerome Powell talked about a housing reset in June, it sent shockwaves around the country because it sounded so ominous. In the most recent FOMC meeting, held last week, Powell finally clarified what he meant by...
John Paulson on Frothy US Housing Market: This Time Is Different
Source: Yahoo --- John Paulson became a billionaire after his hedge fund effectively shorted more than $25 billion of mortgage securities at the dawn of the global financial crisis. As he sizes up yet another frothy housing market some 15 years later, the founder of...
With Mortgage Rates Soaring, the Housing Market Takes Another Hit
Source: The New York Times --- As the average 30-year mortgage rate eclipses 7 percent, home buyers and sellers are confronting sticker shock. The interest rate for the most common home loan in the United States surpassed 7 percent this week, by one measure — the...
Fed Chair Jerome Powell Says a ‘Difficult Correction’ Should Balance US Housing Market
Source: The Paradise --- Following the Covid-19 pandemic, real estate investors did extremely well, despite the millions of Americans that were put out of work and faced evictions during the lockdowns in 2020. Stimulus put a bandage on the financial wounds inflicted...
These 210 housing markets are now vulnerable to 20%-25% home price declines, finds latest Moody’s downgrade
Source: Fortune --- Favorable millennial demographics. Tight housing inventory. Low unemployment. That’s why housing bulls said the Pandemic Housing Boom had more room to run. Moody’s Analytics chief economist Mark Zandi, of course, disagreed. Back in May, Zandi came...
Powell warns of a correction in the once ‘red-hot’ housing market
Source: Boston --- Federal Reserve Chair Jerome Powell warned that the US housing market is likely to suffer a reversal in the wake of policymakers’ interest-rate hikes. “We’ve had a time of a red-hot housing market all over the country,” Powell said in a press...
US ‘housing recession’ could send prices 20% lower by mid-2023: economist
Source: New York Post --- US home prices are now “clearly falling” and could plummet by as much as 20% by mid-2023 as the Fed continues its aggressive push to hike interest rates, according to a prominent economist. Ian Shepherdson, the chief economist at Pantheon...
Housing market correction? Here’s what experts think is ahead for the real estate market
Source: USA Today --- The Federal Reserve's interest rate hikes may be intended to give the housing industry a "reset," as chair Jerome Powell wanted, but it also may have further confused home buyers and sellers on what to do next. Average 30-year fixed mortgage...
