Selling to buy? It should get easier in coming weeks, report says

Conditions should start to improve for buyers while remaining great for sellers if current trends hold, according to a new Redfin report. Rapid home price growth is finally expected to slow if current trends continue, according to a new data analysis from Redfin. This prediction comes as inventory continues to tick upward and the number … Read more

With home prices slow to fall, would-be buyers are getting squeezed out

People who lost income during the pandemic are finding it hard to buy their first homes as real estate prices grew faster than incomes, according to a new Harvard University report. The dream of homeownership may be further out of reach for people who lost income during the pandemic, with high home prices unlikely to … Read more

Investor home purchases exceed pre-pandemic levels, hit record high

Investors purchased 67,943 US homes during the second quarter, for a total value of $48.5B, the highest figure on record, according to Redfin. Institutional investors have been making a comeback in 2021. During the second quarter, investors purchased 67,943 U.S. homes, the highest figure on record (since at least 2000), according to new data released … Read more

Builder confidence curbed in July by continued supply-side roadblocks

Builder confidence declined by one point to 80 in July, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), released on Monday. Labor shortages, regulatory costs and high costs of materials continued to dampen builder confidence, but strong buyer demand helped moderately temper those challenges in July. The NAHB noted … Read more

Showings ‘hyperactive’ in first 5 days of listing: ShowingTime

June brought a “rapid slowdown” in homebuyer demand, but showings were “still hyperactive” in the first five days of listings, according to showing management company ShowingTime. ShowingTime tracks data from more than 6 million property showings scheduled across the country each month. The company’s Showing Index tracks the average number of appointments received on active … Read more

New single-family housing starts ramp up 6% in June: Census Bureau

The increase in housing starts is a welcome gift, but experts say builders aren’t yet betting recent improvements in materials costs are here to stay for the long term. New residential construction made modest gains in June, as lumber prices finally began to settle back down to Earth, according to the U.S. Census Bureau and … Read more

If home prices don’t cool, watch for Fed tightening and rising mortgage rates

Economists at Fannie Mae are again sounding warnings that rising rents and record home price appreciation could contribute to long-lasting inflation that leads to earlier, more aggressive tightening by the Federal Reserve. Economists at Fannie Mae are again sounding warnings that rising rents and record home price appreciation could contribute to long-lasting inflation that leads … Read more

Percentage of all-cash home purchases in US soars to 30%

All-cash home purchases skyrocketed to make up nearly one-third of all home purchases thus far in 2021, according to data from tech-powered brokerage Redfin. That figure represents the largest share of homes purchased in all-cash since 2014, and is up 25.3 percent from the number of all-cash purchases made during all of 2020. For this … Read more

Buyers could see more affordable homes in the next 6 months

Homebuyers exhausted by record low inventory and bidding wars may see some relief in the near future, according to a survey from Homes.com. The online survey, fielded in early May, had 1,600 U.S. adult respondents, of which 267 said they planned to sell their home within the next six months. The survey found that the … Read more

Rising home prices boost demand for jumbo mortgages

Demand for purchase loans rose last month to levels approaching records set in March, but rising home prices mean homebuyers are increasingly likely to need to apply for jumbo loans that have traditionally carried higher interest rates. The latest Originations Market Monitor report from mortgage and property data aggregator Black Knight shows purchase loan rate … Read more

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