First Guaranty Mortgage Corp. files for chapter 11 bankruptcy
First Guaranty Mortgage Corp. FGMC has filed for chapter 11 bankruptcy protection “to protect the business while exploring all available restructuring options,” citing significant operating losses and cash flow challenges due to...
Inventory showing signs of recovery
Inventory recovery made “major strides” in June, with the number of homes available to buyers climbing at its fastest yearly pace of all time (+18.7%). It was the second straight month of active listings growth in nearly three years…
Home asking prices are down from all-time high
The median asking price of newly-listed homes for sale is down 1.5% from the spring high, as a record-high share of sellers dropped their asking price during the four-week period ending June 26. Sellers are “ceding to the mounting…
Single-family homes less affordable in 2Q
The declining affordability narrative continues. Median-priced single-family homes and condos are less affordable in the second quarter of 2022 compared to historical averages in 97% of counties across the nation with enough data to analyze…
Mortgage applications increased last week
Mortgage applications increased 0.7% from one week earlier for the week ending June 24, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey…
Affordability hits lowest level since 2007
The April 2022 First American Real House Price Index (RHPI) rose by 45.6% compared with a year ago, accelerating faster than any other point in the 30-year history of the series, according to First American Chief Economist…
Couples are moving in together sooner to save on rent
More younger couples who haven’t been dating for very long are moving in together sooner in order to afford apartments, build stronger rental applications or live in their ideal neighborhoods, the New York Times reported…
California has highest share of million-dollar homes
In San Jose, Calif., 52.89% of owner-occupied homes are valued at $1 million or more—making it the only one of the nation’s 50 largest metros where a majority of owner-occupied homes are worth at least $1 million…
Rental homeowners see benefits of a market that prices out buyers
Today’s environment has left potential buyers with “little choice” but to rent and rents for single-family homes up 14% this April from a year ago. But most analysts say that the current pace of rent growth is unsustainable…
Home prices up 20.4% in April
Even with home prices not letting up, some markets have more homes for sale now than before the pandemic, according to a MarketWatch article that says six cities out of 50— San Francisco, San Jose, Calif., Seattle, Portland, San Antonio…
Some markets have more listings than pre-pandemic days, but it’s still not easy to buy
Even with home prices not letting up, some markets have more homes for sale now than before the pandemic, according to a MarketWatch article that says six cities out of 50— San Francisco, San Jose, Calif., Seattle, Portland, San Antonio…
Investors (including Wall Street) helped drive home prices up
After looking at recent data published by Redfin, Freddie Mac, and the Harvard Joint Center for Housing Studies, Fortune’s Lance Lambert states that it’s time to recognize the part investors played in our current housing environment…
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EXEC SPOTLIGHT
First Guaranty Mortgage Corp. files for chapter 11 bankruptcy
First Guaranty Mortgage Corp. FGMC has filed for chapter 11 bankruptcy protection “to protect the business while exploring all available restructuring options,” citing significant operating losses and cash flow challenges due to...
Inventory showing signs of recovery
Inventory recovery made “major strides” in June, with the number of homes available to buyers climbing at its fastest yearly pace of all time (+18.7%). It was the second straight month of active listings growth in nearly three years…
Home asking prices are down from all-time high
The median asking price of newly-listed homes for sale is down 1.5% from the spring high, as a record-high share of sellers dropped their asking price during the four-week period ending June 26. Sellers are “ceding to the mounting…
Single-family homes less affordable in 2Q
The declining affordability narrative continues. Median-priced single-family homes and condos are less affordable in the second quarter of 2022 compared to historical averages in 97% of counties across the nation with enough data to analyze…
Mortgage applications increased last week
Mortgage applications increased 0.7% from one week earlier for the week ending June 24, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey…
Affordability hits lowest level since 2007
The April 2022 First American Real House Price Index (RHPI) rose by 45.6% compared with a year ago, accelerating faster than any other point in the 30-year history of the series, according to First American Chief Economist…
Couples are moving in together sooner to save on rent
More younger couples who haven’t been dating for very long are moving in together sooner in order to afford apartments, build stronger rental applications or live in their ideal neighborhoods, the New York Times reported…
California has highest share of million-dollar homes
In San Jose, Calif., 52.89% of owner-occupied homes are valued at $1 million or more—making it the only one of the nation’s 50 largest metros where a majority of owner-occupied homes are worth at least $1 million…
Rental homeowners see benefits of a market that prices out buyers
Today’s environment has left potential buyers with “little choice” but to rent and rents for single-family homes up 14% this April from a year ago. But most analysts say that the current pace of rent growth is unsustainable…
Home prices up 20.4% in April
Even with home prices not letting up, some markets have more homes for sale now than before the pandemic, according to a MarketWatch article that says six cities out of 50— San Francisco, San Jose, Calif., Seattle, Portland, San Antonio…
Some markets have more listings than pre-pandemic days, but it’s still not easy to buy
Even with home prices not letting up, some markets have more homes for sale now than before the pandemic, according to a MarketWatch article that says six cities out of 50— San Francisco, San Jose, Calif., Seattle, Portland, San Antonio…
Investors (including Wall Street) helped drive home prices up
After looking at recent data published by Redfin, Freddie Mac, and the Harvard Joint Center for Housing Studies, Fortune’s Lance Lambert states that it’s time to recognize the part investors played in our current housing environment…
