Jul
08
Originally published on July 1, 2021, for Freddie Mac.
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 2.98 percent.
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Home prices were up 24%, a record high due to the dip in home prices at the start of the pandemic a year earlier
The Wave of Pandemic-Era Relocations Continued in April, With Nearly 31%
While relocations eased slightly in April from the first quarter, the share of people moving from
one part of the country to another is still well above pre-pandemic levels
Freddie Mac Multifamily Examines the Impact of the End of Eviction Moratoriums on Renters
Category: Industry
Jul
08
Originally published on June 30, 2021 for Freddie Mac.
A new white paper pdf from Freddie Mac (OTCQB: FMCC) Multifamily studies the impact of the end of eviction moratoriums and role of rental assistance as the nation recovers from the economic impact of COVID-19. As eviction moratoriums and renter protections lapse, Freddie Mac is encouraging renters and property owners to proactively understand and seek available rental assistance to help mitigate the remaining economic challenges as the country emerges from the pandemic.
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Jul
08
Originally published on June 28, 2021, by Ben Unglesbee for The Retail Dive.
Dive Brief:
- For the first time in 2021, store closures have declined year over year, according to an emailed report from Coresight Research.
- The firm tracked 4,626 closures so far this year, 5.7% fewer than last year at this time. Leading retailers in closures so far is Christopher & Banks, which liquidated its physical footprint in bankruptcy this year. Another recent retail bankruptcy, Francesca's, closed 342 stores, a significant chunk of its footprint.
- Openings to date stand at 4,311, a 41.8% increase over the same period in 2020. The runaway leader in openings is Dollar General, with 1,035 new stores this year, followed by Dollar Tree with 393 openings.
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Jul
08
Originally published on June 24, 2021, by Rebecca Hersher for NPR.org.
More than half of the buildings in the contiguous U.S. are in disaster hotspots, a new study finds. Tens of millions of homes, businesses and other buildings are concentrated in areas with the most risk from hurricanes, floods, wildfires, tornadoes and earthquakes.
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Firms Rethink Plans to Shrink Office Portfolios as Employees Return to Work: CBRE
Category: Industry
Jun
25
Originally published on June 16, 2021, by Michael Tucker for the Mortgage Bankers Association.
U.S. companies have scaled back their plans to make big cuts to their office portfolios and many now expect their offices to support “collaborative” work in person rather than remotely, said CBRE, Dallas.
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Jun
25
Originally published on June 16, 2021, by Michael Tucker for Mortgage Bankers Association.
U.S. commercial real estate investment increased in April, but not all pandemic-related problems are in the rearview mirror, reported Real Capital Analytics, New York.
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Jun
25
Originally published on June 16, 2021, by Wesley Shaw for the National Association of Realtors.
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Jun
25
Originally published on June 17, 2021, by Erin Osgood for Redfin.
Over Half of Homes Sold Above List Price in May for the First Time On Record
SEATTLE, June 17, 2021 /PRNewswire/ -- (NASDAQ: RDFN) — The national median home-sale price hit a record high of $377,200 in May, up a record 26% year over year, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. The housing market also set new records for home-selling speeds and competition, but seasonally adjusted home sales and new listings flattened from April. Leading indicators of housing market activity are also declining into June, according to the latest weekly data, signalling that the pace of the market may be slowing.
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Mortgage Rates Move Slightly
Category: Industry
Jun
16
Originally published on June 10, 2021, by Freddie Mac.
MCLEAN, Va., June 10, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 2.96 percent.
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Jun
16
Originally published on b
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Jun
16
Originally published on June 8, 2021, by Tom Acitelli for The Commercial Observer.
Call it another benefit of education.
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Jun
15
The Appraisal Qualifications Board (AQB) is evaluating changes that would make virtual education delivery a permanent option for continuing education. The AQB released a second exposure draft for qualification criteria on June 3. Distance Education Requirements, Section III D (page 4) defines synchronous education and allows for synchronous education to be used in the same manner as on-site classroom courses. The AQB is accepting commits on the exposure draft until July 30. To submit comments, please visit: https://www.surveymonkey.com/r/AQBComments. You may also send comments to [email protected].
Jun
09
Originally published on June 3, 2021 by Rachel Conner for Realtor.com.
Realtor.com® Housing Report: Home Prices Reach New High at $380,000 in May
Price Growth Remained in Double Digits for 10th Straight Month in May; Price Growth Moderation Expected Later in 2021
-- Lack of available homes for sale push U.S. median listing price up 15.2% year-over-year
-- The number of homes for sale ended the month 50.9% lower than last year
-- Larger metros offer buyers lower price gains and larger growth in newly listed homes
-- Nationally, homes are selling more than a full month faster than last year and 19 days faster than the typical time on the market from 2017 to 2019
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Jun
09
Originally published on June 2, 2021, by John Gittelsohn for Bloomberg.
(Bloomberg)—Even as the remote-work era clouds the future for offices, one segment of the business is drawing cash from investors including Blackstone Group Inc. and KKR & Co.
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Mortgage Rates Up as Market Sees Rising Labor Expenses, Inventory Shortage: Report
Category: Industry
Jun
09
Originally published on May 20, 2021 by Freddie Mac.
MCLEAN, Va., May 20, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.00 percent.
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Jun
09
Originally published on May 17, 2021, by William Maher for UrbanLand Magazine.
Real estate economists predict markedly improved U.S. economic and property market conditions over the next three years, 2021 to 2023, compared with the forecast of six months ago, according to the spring ULI Real Estate Economic Forecast.
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Spread Between Retail and Industrial Property Rents Continues to Compress, JLL Reports
Category: Industry
Jun
09
Originally published on May 20, 2021. by Michael Tucker for Mortgage Bankers Association.
JLL, Chicago, reported the spread between retail property rents and industrial property rents is compressing as home deliveries speed up and e-commerce steals more and more market share from brick-and-mortar retailers.
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Jun
08
Originally published on May 26, 2021, by George Ratiu for Realtor.com.
Pandemic Homebuyers Are Happy With Their Homes
- One-in-four recent homeowners purchased because of the pandemic
- Majority of recent buyers bid at or above the asking price
- 70% of recent homebuyers feel good about purchasing decision
- 75% of recent homebuyers are happy with their homes
- Over 70% of recent homebuyers are happy with their communities and neighborhoods
- Three-in-four recent buyers bought a home that fits their needs
- Over half of recent buyers found homes suited for remote work
The past year has seen a noticeable seesaw in real estate activity, as markets traversed the challenges of the COVID pandemic. Housing started in 2020 with a significant shortage of new homes and an inventory of existing ones. As 4.7 million millennials turned 30 and embraced homeownership, the demand for homes was driving prices higher at a healthy clip. The mid-March 2020 quarantines put a stop to most transactions, leading to a sharp drop in activity until June. As the lockdowns were lifted, Americans reacted to the trifecta of social distancing, remote work, and dropping mortgage rates by rushing out of downtowns and into suburbs, as well as smaller cities and towns across the country. People focused on communities with a higher quality of life, larger homes, and a more affordable cost of living.
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Jun
08
Originally published on May 26, 2021, by Redfin.
The Wave of Pandemic-Era Relocations Continued in April, With Nearly 31%
of Homebuyers Looking to Move to Another Metro
one part of the country to another is still well above pre-pandemic levels
SEATTLE, May 26, 2021 /PRNewswire/ -- (NASDAQ: RDFN) — Nationwide, 30.6% of Redfin.com users looked to move to a different metro area in April, down slightly from 31.5% in the first quarter but up from 26% at the same time last year, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage.
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Jun
02
Originally published on March 11, 2021, by Janice McDill for Realtor.com.
Since the start of the pandemic home prices have risen 14.3%, new listings are 27% lower, there are 50% fewer homes on the market and homes are selling almost a week faster.
SANTA CLARA, Calif., March 11, 2021 /PRNewswire/ -- Although many people were forced to put activities on hold over the past year, buying a new home was not one of them. The U.S. housing market, buoyed by record-low interest rates, remote work, and Americans' desire for more space, outperformed much of the economy throughout 2020. Today, it remains more lopsided than ever as the gap between buyer demand and supply widens, according to a new report issued today by realtor.com® that examined COVID-19's impact on the U.S. housing market one year after the World Health Organization declared the virus a global pandemic.