Home prices fall, but equity levels remain strong
There are also many markets where annual price growth isn’t just slowing, but prices are downright falling—and poised to fall further. Still, the drops aren’t likely to impact equity gained during the pandemic, said...
Tech layoffs could hurt the housing market, experts say
The Hill reports that tech layoffs could force sales, damage buyer confidence and prompt smaller down payments, even from still-employed buyers. “The housing market is fueled by confidence, affordability, and most importantly, jobs…
Would-be buyers choose to rent single-family homes instead
As buyers continue to shy away from home purchases, many are turning to renting single-family homes. Nationally, it cost $888 a month more to buy an entry-level single-family home than to rent it. Add inflation into the mix, and the…
Mortgage applications rise again
Mortgage applications were up 2.2% for the week ending November 18. The Mortgage Bankers Association’s (MBA) Market Composite Index rose 2.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis…
Single-family home sales pick up in October
Sales of new U.S. single-family homes rose—unexpectedly—in October in the face of still-high mortgage rates and home prices. The latest Commerce Department report showed that new home sales rebounded 7.5% to a seasonally adjusted…
Another affordability blow: mortgage payments hit a new record high
Monthly mortgage payments have hit a new record high. The national median monthly payment reached $2,012 in October. That’s an increase of 3.7% from September’s $1,941, according to the Mortgage Bankers Association (MBA)…
Investor home purchases post biggest decline since Great Recession
Investor home purchases fell 30.2% year over year nationwide in the third quarter. This marks the largest decline since the Great Recession. The only time we saw anything close in recent years was the second quarter of 2020, when…
Pending home sales post record drop in October
A new report from Redfin showed pending sales fell 32.1% year over year. That marks the largest decline in Redfin’s history of tracking the data since 2013. Last month saw a 24% year-over-year decline in new listings. This is the “steepest decrease…
Your grocery store may be impacting your home values
Homes near a Trader Joe’s saw an average 5-year home price appreciation of 49%. Homes near a Whole Foods saw an average appreciation of 45%, and ALDI was up slightly at 58%. The average value for homes near a Whole Foods is…
Prepayments hit record low in October; national delinquency rate rises
Prepayments fell 16.5% in October, hitting a single-month mortality (SMM) rate of 0.48%. The previous record for this metric was 0.55%. That makes October’s level the lowest recorded since at least 2000 when the data started being tracked by…
Ribbon lays off 85% of staff
Business Insider reported that company executives sent emails announcing the layoffs to each affected employee. A spokesperson told the outlet that “After today, Ribbon will be a company of less than 30 people…
Renters need to work an average of 63 hours to cover rent payments today
A new Zillow analysis estimated the average amount of time needed to afford that payment is 62.6 hours. That’s three hours more than they would have needed to work a year ago, and six hours more than before the pandemic in October 2019…
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Home prices fall, but equity levels remain strong
There are also many markets where annual price growth isn’t just slowing, but prices are downright falling—and poised to fall further. Still, the drops aren’t likely to impact equity gained during the pandemic, said...
Tech layoffs could hurt the housing market, experts say
The Hill reports that tech layoffs could force sales, damage buyer confidence and prompt smaller down payments, even from still-employed buyers. “The housing market is fueled by confidence, affordability, and most importantly, jobs…
Would-be buyers choose to rent single-family homes instead
As buyers continue to shy away from home purchases, many are turning to renting single-family homes. Nationally, it cost $888 a month more to buy an entry-level single-family home than to rent it. Add inflation into the mix, and the…
Mortgage applications rise again
Mortgage applications were up 2.2% for the week ending November 18. The Mortgage Bankers Association’s (MBA) Market Composite Index rose 2.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis…
Single-family home sales pick up in October
Sales of new U.S. single-family homes rose—unexpectedly—in October in the face of still-high mortgage rates and home prices. The latest Commerce Department report showed that new home sales rebounded 7.5% to a seasonally adjusted…
Another affordability blow: mortgage payments hit a new record high
Monthly mortgage payments have hit a new record high. The national median monthly payment reached $2,012 in October. That’s an increase of 3.7% from September’s $1,941, according to the Mortgage Bankers Association (MBA)…
Investor home purchases post biggest decline since Great Recession
Investor home purchases fell 30.2% year over year nationwide in the third quarter. This marks the largest decline since the Great Recession. The only time we saw anything close in recent years was the second quarter of 2020, when…
Pending home sales post record drop in October
A new report from Redfin showed pending sales fell 32.1% year over year. That marks the largest decline in Redfin’s history of tracking the data since 2013. Last month saw a 24% year-over-year decline in new listings. This is the “steepest decrease…
Your grocery store may be impacting your home values
Homes near a Trader Joe’s saw an average 5-year home price appreciation of 49%. Homes near a Whole Foods saw an average appreciation of 45%, and ALDI was up slightly at 58%. The average value for homes near a Whole Foods is…
Prepayments hit record low in October; national delinquency rate rises
Prepayments fell 16.5% in October, hitting a single-month mortality (SMM) rate of 0.48%. The previous record for this metric was 0.55%. That makes October’s level the lowest recorded since at least 2000 when the data started being tracked by…
Ribbon lays off 85% of staff
Business Insider reported that company executives sent emails announcing the layoffs to each affected employee. A spokesperson told the outlet that “After today, Ribbon will be a company of less than 30 people…
Renters need to work an average of 63 hours to cover rent payments today
A new Zillow analysis estimated the average amount of time needed to afford that payment is 62.6 hours. That’s three hours more than they would have needed to work a year ago, and six hours more than before the pandemic in October 2019…
