Limited Supply, Inflated Mortgage Rates Fuel Decline in Existing Home Sales Activity
While Americans continue to struggle with housing affordability, a new report from the National Association of Realtors showed existing home sales fell 2.2% in July, as available inventory and 7% [...]
Hurricane Hillary Affected 1.55M Homes As It Made Landfall in California
While Hillary made landfall as a tropical storm, the main mode of destruction was heavy rainfall, which added up to months of inland rainfall in just a few hours. Source: [...]
Why Renters Tend to Move More Often Than Homeowners
Metros where large shares of homeowners have recently moved are more likely to experience significantly higher home price appreciation, according to a new study from LendingTree, while renters are three [...]
Nearly 70% of Borrowers in Forbearance Cite Pandemic-Related Hardships
The share of mortgage loans in forbearance fell to 0.39% of servicers’ portfolio volume in July, as the MBA reported that nearly two-thirds of borrowers still in forbearance were due [...]
Higher Real Estate Prices Caused by Low Demand and Low Inventory
Home prices up 3% year-over-year despite relatively slow demand due to a shortage of homes as inventory has posted its biggest drop in over a year and a half. Source: [...]
Relocating to a High-Risk Area? Here’s What Homebuyers Need to Know
While climate change is undeniable, a new study from Fors Marsh examined the types of Americans who move to areas exposed to high climate-related risks, including wildfire, flooding, hurricanes, extreme [...]
Nationwide Rents Inch Toward More Affordability
U.S. rents were slightly more affordable in July compared to the previous year, according to Realtor.com's latest rental report, which revealed an increase in rental supply is gradually helping drive [...]
HUD Funds $140M in Grants for Lead Abatement Projects
Grant sizes range from $654,507 for the Triangle J Council of Governments in North Carolina to $7,997,798 for the Michigan Department of Health & Human Services. Source: DS News
July’s Look at the Housing Market
July marked the first month-over-month decline in home sales since earlier this year in April, a signal that may mark the peak has passed for the typically busy summer buying [...]