“This recent low point in home sales activity is likely over,” said Lawrence Yun, NAR’s Chief Economist. “Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.”
Read More »October Pending Home Sales Fall 4.6% From September
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.
Read More »Existing-Home Sales Slide 5.9% in October
NAR reports that existing-home sales nationwide faded for the ninth straight month to a seasonally adjusted annual rate of 4.43 million.
Read More »Slight Drop in Rates Spurs Rise in Mortgage App Activity
The MBA reports an uptick in overall mortgage application volume week-over-week, led by a 4% rise in home purchase applications, despite an 88% year-over-year drop-off in refinance activity.
Read More »Limited Inventory Still Hampering Home Sales
In September 2022, existing-home sales fell for the eighth consecutive month. “The current lack of supply underscores the vast contrast with the previous major market downturn from 2008 to 2010, when inventory levels were four times higher than they are today," said Lawrence Yun, Chief Economist for NAR.
Read More »Most Areas Report Declining Contract Activity
The Pending Home Sales Index (PHSI), which measures housing contract activity, again fell in August, the third month in a row and the ninth time it has fallen this ...
Read More »Building Generational Wealth by Lowering the FHA’s MIP
A coalition of housing industry trade groups have requested that the White House’s National Economic Council push the FHA to slash its mortgage insurance premium to put more money into the pockets of home buyers.
Read More »Pending Home Sales Fall 19% YoY
For buyers, the early 2022 rush to lock in low mortgage rates before they rose even higher has since been replaced by the reality that sub-3% rates are a thing of the past,” said George Ratiu, Senior Economist & Manager of Economic Research for Realtor.com.
Read More »Report: First-Time Homebuyer Activity Shows ‘Signs of Life’
Despite overall mortgage application volume dipping 1.2% week-over-week, the MBA reports government mortgage apps rose 4% over last week, as a slight decline in rates may be enticing to first-time buyers.
Read More »Renters Feel the Squeeze of a Tightening Housing Market
A new study from Freddie Mac found that nearly 60% of renters saw their rent increase over the past 12 months, with just 38% of those polled seeing an increase in their wages to offset this hike.
Read More »