Applications for government-backed purchase mortgages were up 4 percent week over week, accounting for nearly 1 in 4 loan requests from homebuyers, according to the Mortgage Bankers Association. Continue reading
At Keller Williams’ annual Mega Camp conference, founder Gary Keller prepared agents for a rough 2023 as slowing home sales and other economic factors push everyone to the brink. Continue reading
Nationally, more than 15 percent of homesellers dropped list prices in July across the 97 metro areas analyzed by Redfin, with Boise, Denver and Salt Lake City seeing the greatest share of cuts. Continue reading
Sales of new homes dropped in July to a seasonally adjusted rate of 511,000, which was 29.6 percent below the levels seen in July 2021, according to data released Tuesday by the U.S. Census Bureau. Continue reading
In projections released Monday, economists expect 5.78 million homes to change hands this year, representing a 16.2 percent decline from a year ago — a steeper drop than the 15.6 percent pullback forecast in July. Continue reading
Home sales were down 19 percent year over year in July, a sign the pandemic-era boom in housing demand may be in the rearview mirror, according to new data released Monday by Redfin. Continue reading
Redfin said it expects rental growth to continue to slow, but markets with strong job growth and limited new housing construction will likely continue to experience large rent increases. Continue reading
The Appraisal Foundation’s Appraisal Standards Board says it needs more time to assess proposed changes designed to close the door to discrimination. Continue reading
Are we in an economic recession or a market-imploding housing recession? This week, Byron Lazine and Nicole White discuss the impact of low builder confidence, the changing real estate industry and politics from left, right and center. Continue reading
“While July’s housing market data update is big news, and could get first-time buyers’ hopes up, the future is unlikely to bring meaningful improvement to housing affordability,” Zillow’s latest market report reads. Continue reading