Fannie Mae has ‘meaningfully downgraded’ its forecast for 2021 home sales

As listing shortages and supply constraints on homebuilders drive up prices, risk of inflation grows, economists with Fannie Mae said. Listings shortages and constraints on homebuilders are denting home sales and driving up home prices and rents, which could fuel inflation and force the Federal Reserve to adopt a more aggressive monetary policy stance, economists … Read more

Broker Ben Caballero smashes his own world record — again

HomesUSA.com says that Caballero sold 6,438 homes worth more than $2.46 billion in 2020 — 637 more homes than his second Guinness World Record. Last year was a record year in real estate and record-breaking broker Benny Eugene Caballero took full advantage. Caballero shattered his own world record for home sales last year, selling more than … Read more

After stellar March, new-home sales reverse course, dip 6% in April

New-home sales dipped 5.9 percent in April 2021 to a seasonally adjusted annual rate of 863,000, according to data released Tuesday by the U.S. Census Bureau and the Department of Housing and Urban Development. The decline follows a record month for new-home sales, when they hit a 15-year high of more than 1 million in March, … Read more

NAR: Housing market is ‘topping out’ due to inventory shortage

The housing market has been “amazing” during the last year, but it is beginning to show signs of “topping out” due to low inventory, according to Lawrence Yun, chief economist for the National Association of Realtors. Yun spoke on Thursday during NAR’s Residential Economic Issues and Trends Forum on the second-to-last day of the trade … Read more

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