Tag Archives: Interest rates

Due to stronger economic performance than expected in Q1, Fannie Mae has pushed back the predicted recession to start sometime in the second half of the year.

January marked the lowest rate of home appreciation since the spring of 2021, declining for the ninth straight month to 5.7%. Meanwhile, Orlando, Florida posted the country’s largest annual gain for the third consecutive month.

According to the RE/MAX National Housing Report for February 2023, the median sales price experienced a slight rise over January, ending a seven-month streak of price declines.

Even with a recession in the forecast, the economy appears to be an unexpectedly good place to start off the year according to Fannie Mae.

“Housing affordability is the result of the tug-of-war between purchasing power, which is the product of household income and mortgage rates, and nominal house price growth,” said First American Economist Ksenia Potapov.

A new Redfin report revealed that after Sacramento and Las Vegas, Miami was the most popular migration destination in Q4, followed by Tampa and Phoenix.

With 80% of millennial homebuyers in debt, a new study from Real Estate Witch revealed more than 90% cited inflation as impacting their homebuying plans, as many remain unable to afford downpayments and mortgage payments.

According to First American’s Potential Home Sales Model for November 2022, potential existing-home sales increased to a 5.24 million seasonally adjusted annualized rate, representing a 2.5% month-over-month increase.

Redfin reports that the luxury and investment home market has slid 38.1% year-over-year, due to lingering inflationary concerns, high interest rates, and fears of a recession.

According to the Consumer Financial Protection Bureau, a new analysis of nearly half a million complaints reveals ongoing challenges, as TransUnion, Experian, and Equifax top the list of complaints.