U.S. Housing Market
Homebuyer’s Lawsuit Accuses Zillow of Deceptive Practices
The plaintiff, who was not publicly identified, is seeking class-action status for the lawsuit that will include financial compensation of up to $25,000 a person. Continue Reading Homebuyer’s Lawsuit Accuses Zillow of Deceptive Practices
New Pilot Program Aimed at Expanding Homeownership in Detroit
The mortgage product will provide qualified borrowers with up to 40% of a home’s purchase price in down payment assistance without adding any monthly debt. Continue Reading New Pilot Program Aimed at Expanding Homeownership in Detroit
Arrive Home Debuts New Iterations of Earned Equity Program
The new EEP Pathway designed for “ITIN and certain Visa statuses individuals who may be solid long-term renters looking to move on to homeownership.” Continue Reading Arrive Home Debuts New Iterations of Earned Equity Program
Investors Say ‘No, Thanks!’ to Buying Condos
While investors are shying away from condos, they are continuing to pursue single-family homes. Continue Reading Investors Say ‘No, Thanks!’ to Buying Condos
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
Gen Z is coming for the housing market
Source: Insider --- Soli Cayetano finally had some time on her hands. The soon-to-be college graduate was stuck at home in the spring of 2020 and coasting through Zoom classes. Normally her part-time job leasing out office space kept her busy, but those services...
Experts predicted a real estate slowdown in 2023. How is Tampa Bay holding up?
Source: Tampa Bay Times --- What goes up must come down. After nearly two years of explosive growth in the housing sector, economists and real estate experts said sales could take a major dip in 2023. But so far, that hasn’t happened. Kristine Smale, an executive vice...
Gen Z Homebuyers Prefer Smart Homes over Large Homes
Many U.S. homebuyers and sellers are rethinking their approach to achieving their real estate goals, according to a study commissioned by RE/MAX. 2022 saw a notable increase in mortgage rates compared to historic lows in 2020-21 and with many economic factors to watch...
Affordability Continues to Drive Relocations to Sunbelt States
According to a new report from Redfin, the technology-based real estate brokerage, the number of home searchers looking to relocate to a new metro fell 3.6% year over year in February. That compares with a 14.4% drop in Redfin.com home searchers looking to...
Rental Market is Showing Signs of Stress Born Out of the Pandemic
The pandemic, while now in the rearview mirror, left a significant impact on the rental market that is just now beginning to surface, according to Elliot Adler Real Estate Development. It’s creating both challenges and opportunities for renters and property managers...
Housing Market Cooling Fastest in West Coast Markets
Housing markets in tech hubs and pandemic migration hotspots are cooling more rapidly than other parts of the U.S as the tech sector falters and mortgage rates remain elevated, according to a new report from Redfin, the technology-powered real estate brokerage. ...
Florida’s red-hot real estate market cooling down: ‘Gone are the days of’ bidding wars, broker says
Source: Fox Business --- From one coast to another, the collapse of California-based Silicon Valley Bank (SVB) has now sent tidal waves to Florida’s real estate market, one broker claimed on "Varney & Co." Thursday. "It's definitely cooled down a bit. Gone are the...
Is This the Calm Before the Mortgage-Rate Storm? Here’s Why Homebuyers Should Hurry
Source: Realtor.com --- Although the Federal Reserve hiked interest rates on Wednesday, mortgage rates veered in the opposite direction and tumbled. For the week ending March 23, the nationwide average for the popular 30-year fixed-rate mortgage was 6.42%, according...
Housing Market Update: Spring Homebuying Season Kicks Off With Steady Demand, But Lack Of Listings Holds Back Sales
Source: Redfin --- Homebuying demand persisted as mortgage rates declined for the second week in a row after the Fed announced it will only modestly hike interest rates. But limited supply is another barrier for buyers, who are competing for the few homes on the...
Spring home buying season shows ‘steady demand’ as mortgage rates slip for second week
Source: Fox Business --- The spring home buying season is showing "steady demand" as mortgage rates slip for a second week in a row. On Wednesday, the Federal Reserve raised its key interest rate by a quarter-percentage point and signaled that it could soon pause the...
