Tag Archives: Pandemic

New Fannie Mae data revealed the pandemic prompted many first-time homebuyers to move from smaller housing units in high-density cities to larger homes in lower-density areas, fueling a rise in home sales and lowering the number of days homes sit on the market.

A new study from QuoteWizard showed credit scores increased significantly during the first year of the pandemic, with the average American credit score bumping up by half a percent between 2020 and 2021.

Redfin reports that 2023 has begun with homes selling for nearly the same price as a year earlier, with nationwide prices up just 0.5% year-over-year.

Though high mortgage rates and economic inflation are discouraging many Americans from moving, among the people who are still buying homes, one in four are searching outside of their hometown in relatively affordable areas and hotspots like Las Vegas and Florida.

A new repayment plan will allow mortgage servicers to offer homeowners impacted by COVID-19 up to five years to repay past-due property charges.

As the share of first-time buyers rebounds to pre-pandemic levels, Zillow analysts have determined the metros with the most favorable purchasing conditions.

Many Americans who were priced out of California moved in search of more affordable housing during the pandemic buying frenzy. The latest analysis from Redfin reports Nevada and Arizona lost Democrats but gained Independents as Californians migrated to majority-Republican states.

With home sales on the decline and mortgage application volume falling to a 25-year low, Redfin reports sellers’ time on market has doubled from the spring as buyers wait for both prices and rates to come down.

“Over the last two months, the impact of major increases in mortgage rates and inflation have finally been realized in the slowing rate of home price appreciation. It is once again clear that home prices are not impervious to the broader economic conditions around the country,” noted Steve Gaenzler, SVP of Products, Data and Analytics for homegenius Real Estate.

As mortgage rates jumped back well above the 5%-mark last week, the MBA reports overall mortgage app volume falling 2.3% week-over-week, crashing to lows last seen more than two decades ago.