U.S. Housing Market
Oak Creek Homes to Hold ‘Tax-Free Weekend Sale’ on Factory-Built Homes
“We can deliver homes to Texas, Oklahoma, Louisiana, Arkansas, and parts of New Mexico,” said the company in a press statement. Continue Reading Oak Creek Homes to Hold ‘Tax-Free Weekend Sale’ on Factory-Built Homes
New Report Finds NY Gov. Hochul Falling Short in 5-Year Affordable Housing Plan
Hochul allocated $25 billion in state investments to this initiative, which ends in 2027. Continue Reading New Report Finds NY Gov. Hochul Falling Short in 5-Year Affordable Housing Plan
Mixed Results in Latest Mortgage Rate Data
The 30-year fixed-rate mortgage averaged 6.65% as of March 13 Continue Reading Mixed Results in Latest Mortgage Rate Data
Realtor.com: Down Payment Levels Hit Record High in 2024
Realtor.com determined that buyers paid 14.4% as a share of purchase price. Continue Reading Realtor.com: Down Payment Levels Hit Record High in 2024
JP Morgan Real Estate Income Trust Acquires 2 Southeastern Residential Assets
The transactions mark JPMREIT’s fifth and sixth investments in the residential sector. Continue Reading JP Morgan Real Estate Income Trust Acquires 2 Southeastern Residential Assets
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...
The Fed to reset the U.S. housing market through a ‘difficult correction’—5 things to know about the plan
Source: Fortune --- Fed Chair Jerome Powell told reporters back in June that spiking mortgage rates would see the Pandemic Housing Boom fizzle out. In the eyes of Powell, that would be a good thing. “I’d say if you are a homebuyer, somebody or a young person looking...
Ten US Housing Markets That are Cooling the Fastest
Source: Globe Street --- As the US housing market continues to cool, Seattle has the dubious distinction of slowing faster than any other city in the country, according to an analysis by Redfin that ranked the most populous US metropolitan areas according to the...
Housing Market Potential Increases for First Time in Nearly a Year, According to First American Potential Home Sales Model
Source: Business Wire --- SANTA ANA, Calif.--(BUSINESS WIRE)--First American Financial Corporation (NYSE: FAF), a premier provider of title, settlement and risk solutions for real estate transactions and the leader in the digital transformation of its industry, today...
Mortgage customers fear unaffordable repayments due to rate hikes
Source: Mortgage Introducer --- With another interest rate hike expected this week, a third of mortgage customers in the UK said that rising rates have made repayments unaffordable for them. Commissioned by Butterfield Mortgages, an independent survey of 2,000 UK...
Redfin Reports A Record Share of Homebuyers Relocate, Driven By Moves Away From Expensive Coastal Areas
Source: Redfin --- SEATTLE--(BUSINESS WIRE)-- (NASDAQ: RDFN) — A record 33.9% of Redfin.com users nationwide looked to move from one metro to another in July and August, according to a new report from Redfin (www.redfin.com), the technology-powered real estate...
