That’s according to Black Knight data, which also reported a national delinquency rate of 2.84% in June, with foreclosure starts increasing nearly 30% during the month.
Read More »Record Share of Homebuyers Looking to Relocate
The housing market has slowed following a pandemic-driven buying frenzy, with home sales falling and supply starting to rise due to rising mortgage rates, high home prices, inflation, and a faltering economy. According to a new report from Redfin, a ...
Read More »Potential Home Sales Back Off
Potential is defined as the latent ability for a thing to develop into something bigger in the future. Currently, the housing market is trying to find a new “post-pandemic norm” amid an environment of rising interest rates, record-high inflation, and ...
Read More »As Prices Rise, Homes Staying on the Market Longer
With costs continuing to rise and buyers increasingly priced out of their local markets, a Redfin report examines how long houses are remaining up for sale before purchase as a result.
Read More »Second-Home Sales Up 200% During Pandemic
While the pandemic caused many people to reassess their living situations as the virus began ravaging the country during the first quarter of 2020, many made hard decisions, some went the complete opposite way by doubling down and purchasing a ...
Read More »Fannie Mae Revises Housing Outlook, Adjusts Recessionary Predictions
The confluence of market forces that are currently weighing on the market is shaking up long-term forecasts. Here’s why Fannie Mae Chief Economist Doug Duncan thinks “it’s unlikely the economy will avoid a modest recession.”
Read More »First Mortgage Default Rate at Highest Level Since September 2020
The default rate for first mortgages is at a recent high. Click here to see the overall credit default rate and how major cities fared last month.
Read More »Homebuyer Competition Plummets
Nationwide, nearly 50% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in June, according to a new report from Redfin. That’s the lowest share since May 2020 and the first time the bidding-war rate ...
Read More »Five Months of Existing-Home Sales Declines
For the fifth consecutive month, existing-home sales dropped as three of the four major geographic regions of the country experienced month-over-month declines. On a yearly basis, sales sank in all four regions. All-in-all, total existing home sales for June 2022—which ...
Read More »Dip in Housing Starts Boosting Inventory
While single‐family housing starts were down in June, home buyers today are presented with more options, as new-home inventory is accounting for a bigger share of the total housing supply.
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