Data

"The lack of new listings is also one reason why sales are down: Buyers can’t buy if sellers don’t want to sell,” said Redfin Deputy Chief Economist Taylor Marr.

“Unsurprisingly, consumers also expressed apprehension about the direction of home prices,” said Mark Palim, Fannie Mae VP and Deputy Chief Economist.

A new report revealed where home improvement spending is rising faster than incomes, as homeowners in Southern states were found to spend more on home improvements compared to large cities like New York and Philadelphia.

Average production volume was $2.6 billion (8,371 loans) per company in 2022, down from $4.9 billion (16,590 loans) per company in 2021.

According to a new report from Zillow, renters of color are more likely to pay higher upfront costs when applying for a rental compared to white renters, while Black and Latinx renters were nearly twice as likely to submit multiple rental applications before securing a lease.

Even as mortgage rates edge closer to the 6% mark, homebuyers nationwide are faced with the prospect of low inventory, with new listings having fallen 21.8% year-over-year nationwide.

A new study from Realtor.com revealed LGBTQ+ and BIPOC are more likely to put smaller down payments on a home and spend more of their income on homeownership.

“The spring season is typically the busiest time of the year for the housing market,” said Mark Fleming, Chief Economist at First American.

Continued low mortgage rates have not equated into a strong start to the spring homebuying season, as the MBA reports a decline in overall application volume after four consecutive weeks of increases.

loanDepot announced it has entered into a settlement and cooperation agreement with Anthony Hsieh, declaring the size of the Board of Directors to be temporarily increased from eight to nine directors.