US Housing Industry Concerned About Fed’s Monetary Policies A housing coalition, including major industry organizations like the Mortgage Bankers Association (MBA), the National Association of REALTORS (NAR), and the National Association of Home Builders (NAHB), has expressed growing concerns to the Federal Reserve regarding the unsettling impact of the Fed’s monetary policies on the housing…

Market Update and Optimism: In this current market, there are extraordinary challenges to housing. And we know that the media will latch on to everything and anything they possibly can come up with that is negative. We know that significant headwinds face the housing market due to elevated interest rates, high home prices, and continued…

August 2023: New Home Sales In August 2023, new home sales in the United States reached an estimated annual rate of 675,000, showing an 8.7% decrease from the revised rate in July, which was 739,000. However, this rate was still 5.8% higher compared to August 2022, which had an estimated rate of 638,000. The median…

MBA Survey: September 20 – Mortgage Application Rise Mortgage applications went up by 5.4% in the week ending September 15, 2023, even though the 30-year fixed mortgage rate reached its highest point in four weeks at 7.31%. This increase is due to a surge in both refinance and purchase applications. The average loan size for…

July Sees Home Price Rebound, Slower Appreciation Due to low inventory, the year-over-year home price increase accelerated in July, increasing by 2.5% nationally after two months of a 1.6% rise. With prices wrapping up July 5% higher than their most recent low point in February, this represented the sixth consecutive month of annual price increases.…

July Sees Home Price Rebound, Slower Appreciation Due to low inventory, the year-over-year home price increase accelerated in July, increasing by 2.5% nationally after two months of a 1.6% rise. With prices wrapping up July 5% higher than their most recent low point in February, this represented the sixth consecutive month of annual price increases.…

July Sees Home Price Rebound, Slower Appreciation Due to low inventory, the year-over-year home price increase accelerated in July, increasing by 2.5% nationally after two months of a 1.6% rise. With prices wrapping up July 5% higher than their most recent low point in February, this represented the sixth consecutive month of annual price increases.…

Homeowners Find 5% Mortgage Rate Ideal for Moving The average 30-year fixed-rate mortgage, which dipped below 3% in January 2021, has now surged above 7%. This sharp increase in mortgage rates has deterred many homeowners from selling their homes, as they would likely face higher mortgage payments for a new home purchase at current rates.…

Decade-High Share of First-Time Homebuyers Around half of all home buyers are now first-time buyers, which is likely the highest proportion since around 2010, aided by Zillow’s 2023 Consumer Housing Trends Report. The share of first-time buyers among all home buyers has risen from 45% last year to 50%, a significant jump from 37% in…

July Sees Continued Home Sales Decline Amidst Supply Drop Home sales of pre-owned homes fell by 2.2% in July, reaching an annualized rate of 4.07 million units, marking a 16.6% decline from July the previous year. This slowdown was most pronounced in the Northeast, with a 5.9% drop in sales. The National Association of Realtors…