News

Homebuying conditions for house hunters may be improving as the portion of average wages nationwide required for typical major homeownership expenses fell slightly to 30% in Q1, according to ATTOM's latest U.S. Home Affordability Report.

Under a new order from the CFPB, loans reportable under the Home Mortgage Disclosure Act will not need to be reported under the new small business lending rule.

A new analysis from United Regions Van Lines examines the states that offer the greatest housing savings and which states rank highest in employment opportunities.

“As the housing market rebalances, price declines will continue across many markets, but those declines would have to be substantial to erase all of the equity gains accumulated by homeowners during the pandemic boom,” said First American Chief Economist Mark Fleming.

The median price of homes for sale increased by 6.3% annually in March, according to Realtor.com's 2023 Monthly Housing Market Trends Report. The report notes that homes spent an average of 18 days longer on the market than the same time last year.

CoreLogic reports that the share of home loans in delinquency continues to dip nationwide, down from a high of 7.3% in the spring of 2020, and down by 0.5 percentage points from January 2022.

A judge in the U.S. District Court for Northern Illinois has granted plaintiffs class certification in an antitrust suit against NAR that challenges home sellers paying the commissions of real estate agents representing homebuyers.

Florida has topped the list of popular relocation destinations again, according to a new report from Redfin, as relocators made up a bigger portion of homebuyers than ever due to elevated mortgage rates and persistently high home prices.

“Home sales activity looks to be bottoming out in the first quarter of this year, before incremental improvements will occur,” said NAR Chief Economist Lawrence Yun.

For those facing financial hardship, the Federal Housing Finance Agency announced Fannie Mae and Freddie Mac will enhance their payment deferral policies to allow borrowers to defer up to six months of mortgage payments.