Tag Archives: Housing Market

Courtney Hess of Mortgage Cadence explains the changing face of the average American homebuyer, and how expanding product offerings can keep pace with this evolving market.

Souren Sarkar of mortgage automation provider Nexval shares his thoughts on the future of the industry and feels that politically driven policies will increase housing affordability and reduce rates.

The nation’s housing outlook depends largely on the economy and inflation, analysts say, as the industry closes the book on 2023 and approaches the new year.

A new Zillow study revealed that total U.S. housing value has surged more than $2.6 trillion over the past year, an estimated 49% higher than before the pandemic, with new home construction continuing as the primary driver of housing market growth.

Redfin reports that 25.5% of homebuyers in the second quarter of 2023 looked to move, with San Francisco and the Empire State topping the list as homebuyers continue to depart expensive metros in favor of areas with more affordable housing options.

“While the NFCI Credit index indicated that credit tightened in March, which reduced housing market potential, the credit tightening was modest and far from recent pandemic lows, and certainly nothing like the Great Financial Crisis period,” said Mark Fleming, Chief Economist at First American.

While inflated home prices continue to dampen demand, home sales fell to a more than seven-year low in January, as rising rates continue to weaken home affordability.

As a result of slowing market activity and steadily increasing interest rates, a new HouseCanary report revealed early signs of housing market activity growth halted due to the latest round of rate hikes.

According to a new Redfin report, the Bay Area housing market lost more value in percentage terms than anywhere else in the country as demand waned, while Florida continued to see large gains.

As mortgage rates climb toward 7%, the decline in new listings of homes for sale has slowed since December. A new Redfin report examines why many homebuyers continue to pull back from their home search.