In The News

Real estate investors are pulling back from the housing market with home buying down 30%, report says

Investor home buying has fallen 30% over the past year as high prices and rising interest rates cause companies to pull back from the US housing market, according to a report.

These Housing Markets Will Be The Most Resilient During The Correction

Tampa and Boise are starting to look shaky while Buffalo and Cleveland show stability.

Rent Growth Has Peaked—And Could Start Declining

Rent growth is beginning to slow down, with a few markets showing negative year-over-year growth.

Single‐Family Homes Slip Nearly 20% YoY

Through a late-October announcement, the Federal Housing Finance Agency (FHFA) stated it has “validated and approved” of the FICO 10T and VantageScore 4.0 credit scoring models and will be accepted for use by government-sponsored entities Fannie Mae and Freddie Mac (the GSE’s). 

Breaking Down Q3 2022’s Mortgage Market Opportunities Report

Sales Boomerang and Mortgage Coach announced the release of the Sales Boomerang’s latest Mortgage Market Opportunities Report. Despite significant year-over-year declines in mortgage volume, the Q3 2022 report showed an increase in Credit Improvement Alerts—signaling the opportunity for lenders to offer timely advice and tailored financial solutions to prospects with newly improved credit scores.

Housing Sentiment Slips Again, Nears Record Low

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In September, only 19% of consumers indicated that it’s a good time to buy a home –down from 22% the prior month– while 59% indicated that it’s a good time to sell. Year over year, the full index is down nearly 14%.

Homeownership Remains ‘Historically’ Unaffordable in Most of U.S.

Numbers continue to be far above the near 70% of counties that were historically less affordable in Q3 of 2021, —marking yet another high point reached during the country’s 11-year housing market boom.

August Inventory Holds Steady; Market Remains 600,000 Units Short

After posting gains this summer, for-sale inventory levels stalled in August growing at a fraction of the rate seen in recent months as sellers are more frequently choosing to remain in their homes instead of moving. 

Average Homebuyer’s Mortgage Payment Up 15% Since August

The typical homebuyer’s monthly mortgage payment has climbed $337 —or 15%— over the past six weeks to a new high of $2,547, according to a new report from Redfin.

Elevated Purchase Demand Fueling Housing Market Potential

First American Financial Corporation has released the First American’s proprietary Potential Home Sales Model for the month of August 2022.