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The share of existing-home sales ticked up, ending a five-month slide, according to a new report from NAR, while the median existing-home price also jumped in November, marking a fifth consecutive month of year-over-year price increases.

“Lending on new construction has been the one bright spot in an otherwise slow year for purchase originations,” said Mike Fratantoni, MBA’s SVP and Chief Economist. “That trend continued in November, with applications to purchase a new home up 22 percent compared to last year, while the purchase market as a whole remains about 20 percent behind last year’s pace."

"Affordability was the word on home shoppers' minds this year, and it shows in the most popular cities that buyers ... gravitated toward," said Skylar Olsen, Zillow Chief Economist. However, Olsen notes that "Heading into next year, the winds appear to be shifting just a bit."

“Last week’s comments by Chairman Powell, as well as the Federal Reserve’s updated Summary of Economic Projections, suggest increased Fed confidence that a soft landing has been achieved and inflation is headed sustainably to 2%,” said Doug Duncan, Fannie Mae’s SVP and Chief Economist.

Home builders reversed a four-month downward trend in December, as a reduction in mortgage rates and strong economic data have spurred housing production nationwide.

New data from the Department reveals that more than 650,000 people experienced homelessness on a single night in January 2023, a 12% increase over 2022.

The average down payment now takes nearly 7.5 years to save up, and the effect that stat is having on the market is adding to the number of cost-burdened Americans nationwide.

While the combination of high home prices and interest rates continues to price many potential buyers out of the market, homebuyer mobility has stalled as a result as well. Riordan Frost, Senior Research Analyst for the Joint Center for Housing Studies, reveals the latest predictions surrounding homeowner mobility and what it would take to recover.

First American's latest Potential Home Sales Model revealed mortgage rates declined in November, "igniting cautious optimism in the industry.”

Dark Matter’s Blake Gibson breaks down the latest tech trends in the mortgage marketplace, and how these enhancements will provide quick and accurate information to both ends of the transaction.