U.S. Housing Market
MBA Chief Argues Against Fannie-Freddie Merger
“Competition between Fannie Mae and Freddie Mac has been central to their success in providing liquidity and stability to the mortgage market,” Broeksmit explained. Continue Reading MBA Chief Argues Against Fannie-Freddie Merger
5-Unit, 125-Year-Old Connecticut Multifamily Property Sells for $1.7 Million
National Multifamily Corp. President Matt Cawley represented the seller, BPC Capital Management LLC, and procured the buyer, BBB Investors LLC. Continue Reading 5-Unit, 125-Year-Old Connecticut Multifamily Property Sells for $1.7 Million
Report: Little Change in Real Estate Agent Commissions Since NAR Settlement
For homes that sold for $1 million or more in the first quarter, Redfin found the average buyer’s agent commission was 2.17%. Continue Reading Report: Little Change in Real Estate Agent Commissions Since NAR Settlement
Single-Family Housing Starts Down 2.1%
Single-family housing completions in April were at a rate of 943,000, down 8% from the revised March rate of 1.02 million. Continue Reading Single-Family Housing Starts Down 2.1%
New NAR Study: Housing Affordability Gap Remains in Place
NAR found that households earning $100,000 annually can currently afford only 37.1% of home listings. Continue Reading New NAR Study: Housing Affordability Gap Remains in Place
Zillow Names Austin, TX the Top Pet-Friendly City for Renters Looking to Move
he most pet-friendly city in the country for renters is Austin, Texas, with more than 4 out of every 5 rental listings allowing pets. What's more, cities in Texas claimed the top three spots, and four of the top six. This is according to Zillow’s latest Consumer Home...
Utah Governor Considers Support of SB 271- Second Home Co-Ownership Bill
Pacaso, a real estate platform that helps people buy and co-own a luxury second home, celebrates a monumental moment for co-ownership with the passage of Utah SB 271. The passage of the bill, sponsored by Sen. Michael McKell and Rep. Val Peterson, means the...
Unpriced climate risk and the potential consequences of overvaluation in US housing markets
Source: Nature Climate Change --- Abstract Climate change impacts threaten the stability of the US housing market. In response to growing concerns that increasing costs of flooding are not fully captured in property values, we quantify the magnitude of unpriced flood...
US home prices just did something they haven’t done since 2012
Source: New York Post --- US home prices in February posted their first year-over-year decline in more than a decade as surging mortgage rates put the squeeze on the market. The average US home sold for $350,246 for the four weeks ending on Feb. 26, according to an...
Vast majority of U.S. homes are unaffordable to the average buyer
Source: CBS News --- The cost of buying a home is drifting further out of financial reach for the average American, according to a report from Redfin. The real estate website analyzed homes that went on sale last year and found that only 21% of them were affordable,...
The four U.S. housing markets being impacted the most by oversupply
Source: Yahoo! News --- Yahoo Finance reporter Dani Romero joins the Live show with the latest on the U.S. housing market and details on which markets are being most impacted by oversupply. Video Transcript SEANA SMITH: Potential homebuyers are getting squeezed by...
The Housing Market Just Hit Its Most Grim Milestone Yet
Source: The Street --- Over the last year, many people interested in a move or a home bought as an investment have scrolled online listings only to find that there's nothing affordable on the market. U.S. home prices rose by 32% in the last three years while homes...
Redfin Reports Half as Many Affordable Homes for Sale in 2022 as in 2021
Roughly one in five (21%) U.S. homes for sale in 2022 was affordable for the typical household, according to a new report from Redfin, the technology-powered real estate brokerage. That’s down from two in five (40%) in 2021 and the lowest share on record. A...
Prevu Takes its Homebuying Plaftorm to 10th Major Metro Market
Prevu, a real estate technology company, announced that its digital homebuying platform is now available in South Florida - including cities like Miami, Fort Lauderdale, Boca Raton, and West Palm Beach. With Prevu’s entrance into the market, consumers in the region...
Housing Market Update: Home Prices Fall Annually For First Time In A Decade As Mortgage Rates Pass 7%
Source: Redfin --- The median U.S. home-sale price declined 0.6% year over year in February, marking the first annual drop since 2012–but high rates mean homes aren’t more affordable. The milestone comes as daily average mortgage rates hit 7.1%, dampening homebuying...
