Origination

While home price growth remains somewhat slower than 2021 levels, Peyton Whitney, Research Assistant at the Joint Center for Housing Studies, reveals the descent of home price trends this year and what they could look like in 2024.

Brett Brumley of Lender Toolkit discusses the challenges that lie ahead in the industry, and how advancements in artificial intelligence and machine learning will smooth the road ahead.

Asking rents have declined year-over-year in three of the last four months, according to a new Rent.com report, dropping a total of four times in 2023. As prices continue to climb in the Midwest, other regions saw annual declines in November, as the market continues its seasonal slowdown.

While mobile homes are typically less expensive than more traditional site-built, single-family housing, according to a new LendingTree report, that doesn’t mean they’re cheap. See how much mobile homes are costing across the U.S. in this new report.

“Some parts of the country continue to pop up on the radar as places to watch for signs of housing-market drop-offs, based on key quarterly measures,” said Rob Barber, CEO at ATTOM. “Once again, it is important to stress that getting onto the most-vulnerable list doesn’t signal an imminent crash for any local market.”

A combination of “inflation, high prices, soaring mortgage rates, and low housing supply caused 2023 to go down as the least affordable year for housing in recent history,” said Redfin Senior Economist Elijah de la Campa.

The House Financial Services Committee recently gathered a panel of housing experts to analyze affordability challenges in the housing marketplace, with a focus on governmental barriers such as zoning policies that have exacerbated these issues.

"This year, in the face of a global housing crisis, Habitat staff, supporters, volunteers, advocates and homeowners made meaningful progress toward our vision of a world where everyone has a decent place to live," said Jonathan Reckford, CEO of Habitat for Humanity International.

While more than 40% of all U.S. mortgages were obtained in 2020 or 2021 when rates were at their lowest, younger generations are currently bearing the unfortunate brunt of high mortgage rates, preventing many from buying and attaining the dream of homeownership.

New data proves the financial and time burden of home maintenance has been amplified by economic uncertainty and the reliability of home service providers.