"The average principal and interest payment among borrowers purchasing a home using a 30-year fixed-rate loan hit its highest point ever in July at $2,306, and that's before taxes and insurance are factored in." said Black Knight VP of Enterprise Research Andy Walden.
Read More »Homeseekers Now Adding Climate Concerns to Shopping Considerations
"While all generations juggle trade-offs like budget, floor plans and commute times, younger home shoppers are more likely to face another consideration: They want to know if their home will be safe from rising waters, extreme temperatures and wildfires," said Zillow Senior Population Scientist Manny Garcia.
Read More »As Equity Grows, So Does the Popularity of Home Equity Loans
An analysis of 580k home equity loans by LendingTree showed that cash-back levels vary from state to state.
Read More »Home Price Index Reveals Record-High Prices; Early Signs of Market Shift
The Black Knight Home Price Index hit another all-time high in July, with the annual rate of growth jumping to +2.3% from a revised +0.9% in June
Read More »Fannie Mae Examines Remote Work and Affordability
“When remote work is coupled with the reported rise in the importance of affordability, it's not surprising that respondents expressed a greater willingness to live farther from their current location,” noted a Fannie Mae report. “Of course, renters indicated the greatest affordability concerns, as well as a willingness to consider areas farther away from their current location.”
Read More »Manufactured Housing May Be Viable Answer to High Real Estate Prices
“When factoring in the median value of a finished lot, the cost of manufactured housing relative to site-built falls to 54% for single-section homes, 70% for double-section, and 80% for CrossMods. As such, we suggest that manufactured housing may be most attractive in markets with lower land costs, but still offers savings regardless of land cost,” said Chadwick Reed of the Joint Center for Housing Studies at Harvard University.
Read More »Regional Home Price Differences Continue to Be ‘Striking’
[5:35 PM] David Wharton The latest S&P CoreLogic Case-Shiller Index breaks down "the impact of waning inventory on home prices, which maintained strength despite ongoing affordability challenges." Click through to learn which markets are performing the strongest.
Read More »The Worst of the Lock-in Effect May be Behind Us
“The steep decline in sales driven by the rapid rise in mortgage rates seems to be behind us, as the initial shock of higher mortgage rates has worn off,” said Mark Fleming, the Chief Economist for First American Financial Corporation.
Read More »Despite High Rates, There are More Buyers than Inventory for Sale
“Some buyers are hoping they can get a home for under asking price to make up for high interest rates because they’re hearing the housing market is slow. But what’s happening nationally isn’t necessarily true [locally],” said Kristin Sanchez, a Redfin Premier Agent.
Read More »Multifamily Gains Lead Housing Construction Boom
By conservative estimates, up to 1 million multifamily homes are in the pipeline to be completed soon, giving those who are locked-out of the purchase market other options to live.
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