Market Trends

The Federal Financial Institutions Examination Council’s Appraisal Subcommittee will host a panel of federal officials discussing residential appraisal review, and how to better understand the challenges and potential solutions related to appraisal bias.

According to a new Redfin report, new listings posted their first annual increase since July 2022, offering homebuyers more options as homeowners continue to put their homes on the market despite mortgage rates hovering near 8%.

"Because of homebuilders' ability to create more inventory, new-home sales could be higher this year despite increasing mortgage rates. This underscores the importance of increased inventory in helping to get the overall housing market moving," said Lawrence Yun, NAR’s Chief Economist.

As we head into Halloween, mortgage rates continue to edge closer to the 8% mark, resulting in the longest consecutive rate rise reported since the Spring of 2022. Click through to see what else buyers may fear as we enter the final months of 2023.

The MBA reports that affordability improved slightly for the nation’s homeowners in September, as the national median payment applied for by purchase applicants fell slightly month-over-month. Click through to learn more about the changes.

“I’m telling buyers that this is the first time in years they can get a deal on a house, even with high mortgage rates,” said Austin-area Redfin Premier Agent Carmen Gioia.

According to a new survey, less than two in five Americans agree that their voice is being heard in conversations about housing affordability. Many respondents also cited the desire for stronger leadership discussing the topic in their communities. Read more from the survey by clicking through.

Housing activity is still hot as the market transitions from peak rental season, with the Midwest dominating October’s top 30 list of cities with the most rental activity, landing 12 entries in RentCafe's rankings.

With the 30-year, fixed-rate mortgage edging closer to eclipsing the 8% mark, the MBA reports overall application volume falling from last week’s total, dipping to the slowest weekly pace reported since 1995.

Even though zero-down-payment programs exist, the more a person can put down on a home, the more likely they are to get approved for a mortgage and/or be offered a lower interest rate. But as with many things, it comes down to location, location, location...