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"Affordability is going to be the biggest factor in housing for 2023, but there's room for optimism on that front if mortgage rates recede," said Zillow Chief Economist Skylar Olsen.

ATTOM data has found that Mid-Atlantic states, California, and Illinois were more vulnerable to housing market declines in the third quarter.

“House prices were flat for the third quarter but continued to remain above levels from a year ago,” said William Doerner, Ph.D., Supervisory Economist in FHFA’s Division of Research and Statistics.

Riding the hopes that the Federal Reserve will slow its pace of rate hikes, Freddie Mac reported that the 30-year, fixed-rate mortgage fell yet again, as house prices soften with 2022 coming to a close.

“It is the sacred duty of community leaders, policy makers, and financial industry specialists to lift communities so that all children can thrive and grow up with opportunities for good health, wealth, and happiness in their lives,” said NAREB President Lydia Pope.

The maximum loan limits for FHA forward mortgages will rise in 3,222 U.S. counties next year, while in just 12 counties, loan limits will remain unchanged.

After two weeks of increases in overall mortgage application volume, a holiday-shortened week found volume slipping slightly, despite the 30-year fixed mortgage rate dropping to 6.49%.

As housing availability scales up and down, new data from 2021 Rental Housing Finance Survey found that nearly 50% of rental units are in properties with four or fewer units. Meanwhile, an estimated 86% of all rental properties contain only one rental unit.

NAR reports that month-over-month, contract signings fell in three of four major U.S. regions, with only the Midwest showing signs of improvement.

According to the latest study from Regorra, data found that significantly more borrowers prioritize quick, quality reports over the cost of the appraisal.