U.S. Housing Market
Hits and Misses for the Real Estate Week of Oct. 13-17
Positive data on rental housing costs, a new threat to close the CFPB, and California’s housing market shows signs of vitality. Continue Reading Hits and Misses for the Real Estate Week of Oct. 13-17
Lennar Begins Sales at New Community in Texas
Pricing starts in the mid $200,000s. Continue Reading Lennar Begins Sales at New Community in Texas
Builder Confidence Drops, Albeit with a Significant Asterisk Attached
Builder confidence took a sizable stumble this month amid concerns of tariffs, interest rates and an uncertain economic outlook. However, the National Association of Home Builders (NAHB) stressed that its Housing Market Index (HMI) data was culled prior to the May 12...
Zillow: New Listings Are Outpacing Home Sales
New listings were up year-over-year in 44 of the 50 largest metros. Continue Reading Zillow: New Listings Are Outpacing Home Sales
Foreclosure Activity Continues to Rise
According to data from ATTOM, one in every 3,950 housing units had a foreclosure filing in April. Continue Reading Foreclosure Activity Continues to Rise
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...
The nation’s housing market is on a correction course
Source: Housing Wire --- Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experienced over the past year, according to the recently released Federal Reserve Beige...
Buyers and sellers are feeling a shift in the housing market
Source: Marketplace --- In June, pending home sales fell 8.6% from the previous month, according to the National Association of Realtors. That’s the latest sign that the frenzied housing market we’ve come to know during the pandemic is finally cooling off. So what’s...
‘We’re heading into a housing recession’: Here’s what the NAHB CEO sees in real estate right now — and why it spells big trouble for the economy
Source: Yahoo Finance --- Housing, which is a key segment of the national economy, looks extraordinarily weak right now, according to a recent report by the National Association of Home Builders (NAHB). “We’re heading into a recession,” NAHB CEO Jerry Howard...
The housing slowdown is here
Source: Axios --- The housing slowdown we've been anticipating for months is here. The big picture: Home sales are slowing down, and some of the pandemic era's hottest "Zoomtowns" — sleepy areas where remote workers pushed up real-estate prices — are already seeing...
Home prices are being slashed in these 10 cities as real-estate market cools
Source: Marketwatch --- The U.S. housing sector is finally cooling off. For those looking to buy, there are homes in several parts of the country that are on sale right now, according to new data. Sellers slashed home prices in June in areas that saw red-hot price...
Share of New Home Sales Backed by FHA Loans Reaches 14-Year Low
Source: NAHB --- NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that the four-quarter moving average (MA) share of new home sales financed through FHA was 11.0% in Q2 2022–its smallest share since...
Mortgage Rates Moving LOWER After Fed Hikes by 0.75%
Source: Mortgage News Daily --- The Federal Reserve concluded one of its 8 regularly scheduled meetings in 2022 today. As expected, they announced a rate hike of 0.75%. But if you still think that means mortgage rates moved higher, think again. In fact, if you're not...
