Tag Archives: Jeff Tucker

With mortgage rates surpassing the 7% mark, the MBA reports yet another dip in weekly purchase and refi apps as homebuyers struggle in the face of a depleted housing supply and elevated mortgage rates.

"Home buyers have persisted this spring despite daunting affordability challenges and record-low inventory," said Jeff Tucker, Senior Economist at Zillow.

The MBA reports that mortgage credit availability fell for the third straight month in May, dropping to levels last recorded in January 2013.

The share of homes that sold above their list price also fell to levels last seen in June 2020.

Zillow reports that monthly mortgage payments retreated in November, but numbers are still up more than 60% over the past year.

A recent Quicken survey found that 21% of those polled planned to buy a first or new house in 2022, with 69% of that segment now reconsidering that move.

Another shocking record high has been reported by Zillow’s May 2022 Market Report as mortgage payments are now higher than rent in 40 of the 50 largest metropolitan areas. ...

The annual growth rate recently reached an all-time high, as home value growth was up in 38 of the nation's 50 largest metros.

In a year where home prices have risen by nearly 20%, the market is set to remain on a steady path, avoiding the typical winter cooldown.

The nation’s housing inventory dropped for the 39th consecutive week, driving prices further skyward as demand continues to outpace the nation’s supply.