Market Studies

A new poll by Fannie Mae has found that 73% of respondents believe the U.S. economy is on the “wrong track,” with a vast majority of lenders feeling the economy is "very likely" or "somewhat likely" to enter a recession in the next two years.

As advancements are made in the tech world to optimize e-mortgages, the Five Star Institute and DocMagic will present a webinar discussing barriers that remain throughout the process, as well as embracing the customer service aspect of going all-digital.

A new study from Yardi Matrix revealed student housing posted five consecutive months of annual rent growth of over 7% recorded through June, while new data projects rates to remain solid throughout the 2023-2024 semester.

A new report from NAR shows existing-home sales dipped 3.3% from May, while the median existing-home price for all housing types reached its second-highest mark of all time in June.

Following three quarters of decline, ATTOM reports that home investment returns rose in Q2, led by a springtime surge in buyer demand, pushing seller profits back up to nearly their highest level recorded in the past decade.

“Even though buyers are trepidatious about high mortgage rates, we’re seeing bidding wars in several pockets of the market because there are so few options and even fewer good options,” said Redfin Premier Agent Jordan Hammond.

The MBA reports that new home purchase mortgage applications in June rose 26.1% year-over-year, despite mortgage rates nearing the 7% mark.

According to First American’s Potential Home Sales Model, the nationwide sales pace will begin to settle into a new normal, as potential existing-home sales decreased in June, suggesting they may have hit bottom.

“While permits, a leading indicator of future starts, ticked up 2.2% month over month, the pace of construction slowed as single-family housing starts were down 7.0% month over month, meaning less groundbreaking on new homes, and single-family completions were down 2.8% month-over-month, meaning less supply was added to the housing stock,” said First American Deputy Chief Economist Odeta Kushi.

As markets responded positively to data showing that U.S. inflation continues to cool, the MBA reports that mortgage application volume rose week-over-week, with refi apps increasing more than 7%.