U.S. Housing Market
Deltec Homes Debuts New Hurricane-Resistant Housing Model
“We set out to create a smaller home that delivers world-class resilience and a truly elevated living experience,” said Meg Gore, CEO of Deltec Homes. Continue Reading Deltec Homes Debuts New Hurricane-Resistant Housing Model
Wisconsin’s June Home Sales Up for First Time in 4 Years
In review of the first half of the year, the WRA found home sales were up by a scant 0.1% from the first six months of 2024. Continue Reading Wisconsin’s June Home Sales Up for First Time in 4 Years
NAR: Black Homeownership Rate Rising, But Still Below Other Demographics
The overall US homeownership rate was higher in 2023 (65.2%) than a decade ago (63.5% in 2013). Continue Reading NAR: Black Homeownership Rate Rising, But Still Below Other Demographics
Report: Fannie Mae Maintains Blacklist of Over 5,000 Condo Communities
Florida has more than 1,400 developments blacklisted, with California, Colorado, Hawaii and Texas rounding out the top five states. Continue Reading Report: Fannie Mae Maintains Blacklist of Over 5,000 Condo Communities
‘Seinfeld’-Inspired Fraudster Sentenced for Real Estate Scams
Thomas John Sfraga was also known by the alias TJ Stone. Continue Reading ‘Seinfeld’-Inspired Fraudster Sentenced for Real Estate Scams
Seller beware: US homebuyers are backing out of deals at the highest rate since the start of the pandemic — here’s what that means for real estate
Source: Yahoo Finance --- As a well-known inflation-proof asset, real estate has been highly sought-after for most of the last two years. But things seem to be shifting. According to a new report from real estate brokerage Redfin, around 60,000 home-purchase...
Mortgage Rates Drop Below Five Percent
MCLEAN, Va., Aug. 04, 2022 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 4.99 percent. “Mortgage rates remained volatile due to the...
Mortgage applications inch up for the first time in five weeks
Source: CNBC --- Mortgage applications inched up last week for the first time since June 24. Total mortgage demand increased 1.2% as the average 30-year fixed mortgage rate made the largest weekly drop since 2020. Applications to refinance a home rose 2%, according to...
Mapped: The Salary You Need to Buy a Home in 50 U.S. Cities
Source: Visual Capitalist --- This is the Salary You Need to Buy a Home in 50 U.S. Cities Depending on where you live, owning a home may seem like a far off dream or it could be fairly realistic. In New York City, for example, a person needs to be making at least six...
Las Vegas’ housing market cooling faster than others
Source: Review Journal --- In more ways than one, Las Vegas’ housing market is getting doused with cold water. People are buying fewer homes, sellers are slashing their prices, and availability is soaring. Southern Nevada is far from alone in seeing its once-sizzling...
Redfin: These housing markets are the most at risk of falling home prices
Source: Fortune --- Homebuyers had enough. Spiked mortgage rates on top of record home price appreciation—up 42% since the onset of the pandemic—pushed monthly mortgage payments to a level that is simply unattainable for tens of millions of would-be buyers. As more...
Putting the real estate market into perspective
Source: Toronto Sun --- In so many ways, we rely on the media to provide us with information about housing markets in this hectic world. Readers and viewers, however, should look at the big picture and put news in perspective. We hear a lot about rising interest rates...
Housing Market Update: Uptick in Searches and Tours Highlight Buyers’ Mortgage-Rate Sensitivity
Source: Redfin --- Since mortgage rates came down from their June high, measures of early demand like online real estate searches and home tours have ticked up and/or stabilized. A half-point drop in mortgage rates from their June high is drawing some homebuyers back...
California Home Sales Slide 20 Percent Annually in June
Source: World Property Journal --- According to the California Association of Realtors, sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 344,970 in June 2022. California's June home sales pace was down 8.4...
Latest mortgage news: Rates retreat, might have already hit ‘cyclical high’
Source: Bankrate --- The Federal Reserve on Wednesday moved aggressively to rein in inflation, announcing its second consecutive rate hike of three-quarters of a percentage point. Counterintuitively, the average rate on 30-year mortgages fell to 5.59 percent this week...
