Diminished demand in the housing market has been further dampened by erratic mortgage rates, which dipped slightly this week, as affordability issues continue to put buying significantly out of reach for many.
Read More »Young American Renters React to Inflation, Rate Hikes
As inflation continues to affect Americans nationwide, the Young American Renter Survey from Grubb Properties revealed it is also the main financial concern for young renters, influencing their decision to draw back from buying a home.
Read More »Mortgage Apps Fall for Sixth Consecutive Week
Mortgage rates exceeding the 7% mark have driven overall mortgage app volume down, with refi apps continuing to run more than 80% below last year’s pace.
Read More »Fannie Mae: Home Prices, Rents May Stabilize in 2023
While Fannie Mae experts predict prices to moderate in 2023, they note that housing supply issues will persist as inventory remains scarce, with effects felt mostly by low- and moderate-income families. Here are the latest findings.
Read More »Southeastern States Posted Significant Price Gains in September
”The rapid increase in prices during the COVID-19 pandemic caused many U.S. housing markets to reach completely unaffordable levels for potential local homebuyers,” said Selma Hepp CoreLogic’s Interim Lead, Deputy Chief Economist.
Read More »Kristy Fercho Named Wells Fargo’s Head of Diverse Segments
Wells Fargo’s current Head of Home Lending will transition to role of integrating diversity, equity, and inclusion into every aspect of the company’s business.
Read More »More Homeowners Report the Intent to Move Between Metros
“With a recession looming and household expenses high, many people can’t afford to buy a home in an expensive area and/or want to save money in case of an emergency, which makes relocating somewhere more affordable an attractive option,” said Redfin Economics Research Lead Chen Zhao.
Read More »Buyer Demand Softens as Homes Linger on Market
Although homes are staying on the market longer compared to last year, numbers are still moving faster than pre-pandemic norms. Meanwhile, homebuyers nationwide are pulling back or halting their home searches due to affordability constraints.
Read More »Mobile Home Values Neck-and-Neck with Single-Family Homes
A new study from LendingTree found that mobile homes are much less expensive than single-family homes, offering homebuyers a cheaper alternative in purchasing. However, data revealed that mobile homes appreciated in value almost as quickly as single-family homes nationwide from 2016 to 2021.
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