Tag Archives: homeowners

While HELOC activity surged in 2022, a new report from CoreLogic showed that demand slowed significantly in the first half of this year as Freddie Mac revealed the average 30-year fixed-rate mortgage reached its highest level in over two decades.

Despite the increasing risks of flooding, heat waves, and hurricanes, Americans are still flocking to metros such as Las Vegas, Sacramento, and Tampa, which topped the list of most popular migration destinations in Redfin's latest report.

“Prospective homebuyers continued to face challenging conditions in July, with elevated and volatile mortgage rates and low housing inventory serving as a formidable one-two punch that suppressed mortgage applications and sales activity,” said Edward Seiler, MBA’s Associate VP, Housing Economics, and Executive Director, Research Institute for Housing America.

As many Americans return to work, a new Realtor.com report showing the Hottest ZIP Codes of 2023 revealed homebuyer demand is being fueled in part by the desire for more commute-friendly locations and additional space.

While the “if” and “when” of a recession remain uncertain, the Fannie Mae Economic and Strategic Research Group does forecast one to occur, expected to begin in the first half of 2024—despite increased chances of a “soft landing.”

While total housing inventory continues to inch forward, existing-home sales retreated in July in the face of mortgage rates sitting at 7.09%.

While the nationwide supply of homes for sale remains stiff, relocation can be challenging for many homebuyers and renters. A new study from LendingTree revealed that the Austin, Dallas, and Las Vegas metros have the largest share of recent movers.

Between 2020 and 2040, some 70% of new homeowners are projected to be Hispanic, according to a new study from the Urban Institute. It reveals the Latino homeownership rate was just over 50% in 2021, representing the highest rate for Latinos since 2009.

RentCafe's August Rental Activity Report revealed Arlington, Virginia was named the most sought-after city by renters for the second consecutive month, while New York City boroughs like the Bronx and Queens trailed closely behind.

Overall housing inventory dropped 15% year-over-year in June, remaining at an all-time low. A new market report from Redfin revealed that homebuyers are turning to new builds as many homeowners continue clinging to their low existing mortgage rates, contributing to the ongoing lack of supply.