Filtered by tag: Residential Remove Filter

‘Little Evidence’ Housing Bubble is About to Burst: Moody’s

Originally published by Lynn Pollack on June 13, 2022, for The GlobeSt.com.

While home prices are responding to higher mortgage rates, there is “little evidence of a housing bubble that is about to burst,” according to a new report from Moody’s Analytics.

Read More

Regulations Comprise 40% of Apartment Development Costs, NAHB Research Reveals

Originally published on June 9, 2022, by Elizabeth Thompson and Stephanie Pagan for NAHB.

Regulation imposed by all levels of government accounts for an average of 40.6 percent of multifamily development costs, according to new research released today by the National Association of Home Builders (NAHB) and the National Multifamily Housing Council (NMHC).

Read More

Nearly 20% of Home Sellers are Dropping Asking Prices, According to Redfin

Originally published on May 26, 2022, by Kenneth Applewhaite for Redfin.

The housing market is sending clearer signals that the pandemic-driven housing frenzy is coming to an end, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.

Read More

Wildfire Damage to US Homes Exceeds $5 Billion: Data

Originally published on May 16, 2022, by Diana Olick for CNBC.com.

Raging New Mexico and California wildfires may offer an ominous outlook for America's growing swath, not just in the West.

Read More

Housing Sentiment Falls to Lowest Level in Two Years

Originally published on May 9, 2022, by Matthew Classick for Fannie Mae.

Affordability Constraints Mount as Mortgage Rates and Home Prices Continue to Rise

WASHINGTON, DC – The Fannie Mae (FNMA/OTCQB) Home Purchase Sentiment Index® (HPSI) decreased by 4.7 points to 68.5 in April, its lowest level since May 2020, as surveyed consumers expressed heightened concerns about housing affordability and rising mortgage rates. All six of the index’s components decreased month over month, with a survey-high 76% of consumers indicating that they believe it’s a bad time to buy a home, up from 73% last month. Additionally, 73% of respondents expect mortgage rates to continue their recent ascent over the next 12 months, also a survey high. Year over year, the full index is down 10.5 points.

Read More

Commercial and Multifamily Borrowing Surges 72% from Last Year: MBA Report

Originally published o May 12, 2022 by the Mortgage Bankers Association.

Commercial and multifamily mortgage loan originations increased by 72 percent in the first quarter from a year ago, the Mortgage Bankers Association reported Thursday.

Read More

Pressures Mount, Causing Housing Market Uncertainty, NAR Economist Yun Reports

Originally published on May 4, 2022, by Quintin Simmons for the National Association of Realtors.

NATIONAL HARBOR, MD (May 4, 2022) – Two years after enduring the devastating financial impacts of COVID-19, the U.S. economy has made an impressive comeback, in large part due to a booming housing market. However, as National Association of Realtors® Chief Economist Lawrence Yun explained today, there are significant questions regarding the sector's direction over the coming months.

Read More

Student Housing Remains Strong Despite Drop in College Enrollment: Yardi Matrix

Originally published on April 27, 2022 by YardiMatrix.

SANTA BARBARA, Calif., April 27, 2022 – Despite a drop in college enrollment over the last two years, the student housing industry continues to perform well and is exhibiting healthy rent growth and preleasing for Fall 2022.

Read More

New Home Sales Decline Amid Affordability Challenges: NAHB

Originally published on April 26, 2022, Elizabeth Thompson and Stephanie Pagan for NAHB.

Worsening affordability conditions stemming from growing supply chain disruptions and rising mortgage rates pushed new home sales lower in March.

Read More

Foreclosure Activity at Post-pandemic High in Q1: Data

Originally published on April 21, 2022 by ATTOM Staff for ATTOM. 

IRVINE, Calif. — April 21, 2022 — ATTOM, licensor of the nation’s most comprehensive foreclosure data and parent company to RealtyTrac (www.realtytrac.com), the largest online marketplace for foreclosure and distressed properties, today released its Q1 2022 U.S. Foreclosure Market Report, which shows a total of 78,271 U.S. properties with a foreclosure filing during the first quarter of 2022, up 39 percent from the previous quarter and up 132 percent from a year ago.

Read More

Inclusionary Housing Policies Lead to Greater Number of Affordable Homes: Study

Originally published on April 19, 2022 by MBA Newslink Staff for the Mortgage Banker's Association.

A study by a Mortgage Bankers Association-supported member network suggests an optimal mix of incentives and requirements could help policymakers avoid polarizing private sector and community stakeholder groups while working toward the goal of increasing affordable housing production.

Read More

Record Home Price Growth Led by Sun Belt States: CoreLogic

Originally published on April 5, 2022, by Molly Boesel for CoreLogic.com.

Home Price Index Highlights: February 2022

  • National home prices increased 20% year over year in February.
  • Florida’s Gulf Coast logged the highest annual increases in February.

Overall HPI Growth

Read More

Mortgage Rates Increase at Fastest Rate Since 1994, Freddie Mac Reports

Originally published on April 7, 2022, by Chad Wandler for Freddic Mac.

MCLEAN, Va., April 07, 2022 (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 4.72 percent.

Read More

Single-tenant Net Lease Cap Rates at Historic Lows: Data

Originally published on April 13, 2022 by John Feeney for the Boulder Group.

Cap rates in the single-tenant net lease sector reached historic lows in all three asset classes during the first quarter, The Boulder Group reported April 7 in its Q1 2022 Net Lease Market Report. Cap rates compressed for the retail, office and industrial categories by 13, 10 and 17 basis points, respectively.

Read More

Mortgage Demand Plummets as Rates, Prices Surge, Supply Hits Record Low: MBA

Originally published on March 30, 2022, by Diana Olick for the Mortgage Banker's Association and CNBC.

Total mortgage application volume decreased 6.8% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. This, as the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 4.80% from 4.50%.

Read More

Conflict in Ukraine Likely to Effect US Housing: Fannie Mae

Originally published on March 17, 2022, by Matthew Classick for Fannie Mae.

The Russian invasion of Ukraine, and its implications for the global economy, have added to growing inflation pressures and ongoing supply chain difficulties as monetary policy tightening begins, according to the March 2022 commentary from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group. The ESR Group now projects full-year 2022 real GDP growth of 2.3 percent, down from last month’s projected 2.8 percent, but acknowledges that many of its forecast’s base assumptions, including a near-term resolution to the acute global economic effects of the Russian invasion of Ukraine, represent substantial downside risks to both the macroeconomic and housing outlooks. Prior to the conflict, inflation, as measured by the Consumer Price Index, hit a 40-year high and the Federal Reserve was poised to begin a course of significant monetary tightening. According to the ESR Group, the central bank’s already difficult task of enacting a “soft landing” – that is, raising rates to combat inflation without precipitating economic contraction – has been further complicated by the recent geopolitical developments. Despite the substantial uncertainty, the ESR Group continues to expect the Federal Reserve to raise the federal funds rate five times in 2022 and eight times total through 2023.

Read More

Negative Equity for US Homeowners Hits 12-year Low, CoreLogic Report Reveals

Originally published on March 10, 2022, by MBA NewsLink Staff for Mortgage Bankers Association.

CoreLogic, Irvine, Calif., said just 2.1% of U.S. homeowners with a mortgage were underwater as of the fourth quarter, the lowest level since 2010, as borrowers gained more than $3.2 trillion in equity in 2021.

Read More

Many Homes Sell for More than $100,000 Over Asking: Redfin

Originally published on March 8, 2022, by Isabelle Novak for Redfin.

Nationwide, 5,897 homes sold for at least $100,000 over asking price at the beginning of this year, up from 2,241 during the same period last year, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.

Read More

FHFA Allots Record $1.1B for Affordable Housing Programs

Originally published on February 28, 2022, by Adam Russell for the FHFA.

 Today, FHFA Acting Director Sandra L. Thompson announced that the Housing Trust Fund and Capital Magnet Fund will receive a total of $1.138 billion for affordable housing initiatives from Fannie Mae and Freddie Mac (the Enterprises). This is the largest amount ever provided to these programs from the Enterprises.

Read More

Mortgage Rates Fall Amid Global Tensions and Inflationary Concerns: Freddie Mac

Originally published on March 3, 2022, by Angela Waugaman for the Freddie Mac.

Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.76 percent.

Read More