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Results 1 - 10 of 2720 |
Posted Date: Monday, October 2, 2023
Higher mortgage rates, mixed inflation signals, and changes in the job market have led to a unique report from Freddie Mac on what to expect on the economic, housing, and mortgage market outlook.
While total homes sales were down and existing home sales continued to decrease, new home sales saw a monthly rise and now account for a larger-than-normal percentage of total home sales than previously recorded.
Read on for more details.
Posted Date: Monday, October 2, 2023
Two months of increases in the number of pending home sales have been followed by a sudden dip in the number of contracts being signed in August, the National Association of Realtors (NAR) stated in its most recent index.
These numbers are further indications that increased inventory and lower interest rates are needed for the housing market to balance itself.
Read on for more details.
Posted Date: Monday, September 25, 2023
The National Association of Realtors’ existing-home sales report for August showed another decrease in the month-over-month sales of existing homes.
Median existing-home prices continued to climb, resulting in the third consecutive month where the median sales price surpassed $400,000.
Read on for more of August’s housing numbers.
Posted Date: Thursday, September 21, 2023
Civil rights, fair housing, and affordable housing advocates voiced concerns about riders accompanying House Resolution 4366, the Military Construction, Veterans Affairs, and Related Agencies Appropriations Act, 2024.
According to these organizations, there are provisions that would prevent the U.S. Department of Housing and Urban Development from furthering fair housing, a legal requirement for the agency.
Read on for more details.
Posted Date: Thursday, September 21, 2023
A “modest economic contraction” is predicted for the first half of 2024, according to Fannie Mae’s Economic and Strategic Research Group. As mortgage rates hold above 7 percent and origination activity has slowed, the forecast also anticipated further headwinds for the housing market.
“The new home market, which showed surprising strength over the first half of 2023, due in part to a limited inventory of existing homes for sale, may now be taking a breather,” the group stated in its outlook.
Read on for more details.
Posted Date: Monday, September 18, 2023
The Asian Real Estate Association of America’s (AREAA) white paper on housing affordability showed the steady increase in the ratio between home prices and income since the 1980s has resulted in affordability being the number one barrier to homeownership. Prospective homebuyers need to spend more time saving up for a down payment – in some markets for more than nine years.
When high costs prevent consumers from entering the housing market, they are also prevented from accruing generational wealth and can cause “negative externalities” to their communities. AREAA offered some solutions to the housing affordability crisis, such as adaptive reuse and modular homes.
Read on for more details.
Posted Date: Monday, September 18, 2023
Relatively high mortgage rates, high home sale prices, and low inventory have stalled consumer sentiment about the housing market.
“Consumers remain pessimistic toward the housing market in general and homebuying conditions in particular,” Fannie Mae Senior President and Chief Economist Doug Duncan said about the survey.
Read on for more details.
Posted Date: Thursday, September 14, 2023
Most prospective homebuyers stated they had not yet bought a house because of the lack of affordable homes on the market, while others stated they are waiting for mortgage rates to drop. Some of those who responded to the National Association of Realtors survey also reported discrimination as they search for their new home.
The survey report also revealed the shopping preferences of these respondents.
Read on for more details.
Posted Date: Thursday, September 14, 2023
As fully remote and hybrid work situations have been surprisingly constant since the end of the COVID-19 national emergency, a survey of renters and homeowners conducted by Fannie Mae showed how “decoupling” where people live from where they work could possibly help ease the housing affordability crisis in the U.S.
“The consistency of the percentage of people working remotely indicates to us that, despite headline-grabbing news of companies demanding that workers return to the office, so far, remote and hybrid work may be here to stay,” the company stated.
Read on for more details.
Posted Date: Friday, September 8, 2023
RESPA News is at the Ritz Carlton in Bachelor Gulch, Colo., for RESPRO’s RISE Conference Sept. 11-12. We’re covering discussions ranging from how states are targeting affiliated business arrangements to a fair lending update to keep our audience apprised of the hot compliance issues.