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Tag Archives: Demand

Large Lenders Loosen Credit Standards, Small Lenders Tighten Up

Credit standards at large lenders appear to be loosening somewhat, while criteria at small and mid-sized lenders appear to be tightening, according to a new survey from Fannie Mae. Lenders that reported tightening credit standards most often stated "changing regulatory requirements" as the rationale for their stricter standards.

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Analysts Still Hopeful on Housing in 2014

Redfin released its latest market summary, which sees the combination of sales, prices, foot traffic, and inventory as positive signs heading into the fall. "After an abysmal first quarter that drove a disappointing first half, housing will be playing catch-up for the year," said Nela Richardson, Redfin's chief economist. "Though it won't be a seamless transition, we believe the housing market is positioning itself for a stronger finish in the second half of the year."

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Housing Mixed in Largely Positive Beige Book

The Federal Reserve reported continued growth in economic activity through the United States over the past month, reinforcing recent reports that the economy is moving in a more positive direction after a dismal first quarter. Reports on real estate activity were mixed across the country, though low inventory and rising home prices were common themes in most districts.

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Housing Trends Show Broadening Recovery

According to Realtor.com, the median listing price of homes in May this year was $214,900, a rise of 8 percent compared to year-ago levels. "This May's housing market stands in significant contrast to last year in which price increases were less generalized and more concentrated in specific metropolitan areas," the company said. "This broad increase in price suggests a more evenly distributed recovery and a healthier national housing market."

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Beige Book Records Continued Growth in All Districts

Fed

In its latest Beige Book, released Wednesday, the Federal Reserve noted economic activity has expanded in recent months, with the pace of growth "characterized as moderate in the Boston, New York, Richmond, Chicago, Minneapolis, Dallas, and San Francisco Districts, and modest in the remaining regions." Wednesday's summary reinforces comments offered by Fed Chair Janet Yellen recently.

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Home Shoppers Cool on Limited Housing Stock

In its latest Real-Time Demand Pulse, Redfin recorded a 2.1 percent month-over-month decline in customers taking home tours in April. "New listings get the attention of would-be buyers, prompting them to go on home tours," said Nela Richardson, chief economist at Redfin. "However, new listings increased just 8 percent in April, compared with 25 percent growth in March, and that slower growth had a dampening effect on home tours."

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Homebuyers Prefer New Homes (But Not New Prices)

In a survey of more than 2,000 adults, Trulia found an estimated 41 percent “would strongly or somewhat prefer” to buy a new single-family home over an existing one, assuming the prices were equal. Just more than one in five respondents—21 percent—said they would prefer an existing home, while 38 percent expressed no preference. Of course, while the survey set prices on a level field to gauge interest, that’s very rarely the case.

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Fed Survey: Prime Loan Standards Mostly Unmoved

A newly released survey of senior loan officers around the country finds credit standards remained largely the same on basic prime mortgage products over the latest quarter, while demand came in weaker. On the topic of subprime loans: On net, the handful of banks offering such products reported tightening, though more than half still said standards changed little.

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Best Housing Deals Now in the Mid-Tier Market

As home price growth continues to moderate to a more sustainable pace, real estate data provider Clear Capital sees another promising trend forming: The mid-tier housing sector now has the best deals for buyers, hopefully drawing more interest to the market’s largest segment. Dr. Alex Villacorta, VP and chief economist for Clear Capital, says the shift reflects how market drivers have had an impact on each tier of housing.

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