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Pending Sales Dropped in all Regions YoY

Month-over-month, contract signings intensified in the Northeast but diminished in multiple other U.S. regions. First American Deputy Chief Economist Odeta Kushi commented, “While there remains quite a bit of demand for homes on the sidelines, you can't buy what's not for sale, even if you can afford it.”

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Organizations Call on FHFA to Lower Housing Costs for Renters, Homeowners

In a letter, nearly 80 consumer, energy, housing, health, manufacturing, and environmental organizations called on the Federal Housing Finance Agency to help lower costs and make housing safer and healthier, in addition to suggesting requirements that all new homes with mortgages backed by Fannie Mae and Freddie Mac meet updated energy codes.

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Report: Foreclosure Activity Trends Increasing

“The silver lining of this trend is that it’s usually local or regional investors seeking to purchase commercial REO properties, often to launch new concepts or businesses,” said Michael Krein, President of the NRBA. “They keep the community moving forward by getting these properties back into the market and retail sectors.”

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