industry news
Millennials are looking forward to buying a home, but feel overwhelmed by the process
Housing Wire| January 27, 2020
Millennials are buying homes. This much is known. But, despite the much-discussed generation making their entrance into the housing market, many still are still very uneasy about the process.
A solution to the inventory problem? Housing starts are expected to rise this year
Housing Wire| January 23, 2020
Economics has long been dubbed “the dismal science.” But the economists at Capital Economics are showing some optimism for single-family housing starts in 2020. Their latest report predicts single-family housing starts to average around 1 million annualized this year.
Home seller profits hit new high as people are staying in their homes longer than ever
Housing Wire| January 23, 2020
People are staying in their homes longer than ever before, but it may pay off big for them should they choose to move.That’s according to a recent report from ATTOM Data Solutions, which stated that both homeownership tenure and home seller profits simultaneously hit new highs.
Home prices climb 6.9% in December
Housing Wire| January 21, 2020
In December, home sale-prices climbed 6.9% year over year, rising to a median of $312,500 across 217 housing markets, according to new data from Redfin. Month over month, home sale-prices rose 1.1% on a seasonally adjusted basis, marking the largest increase since February of 2018.
Looking for the Housing Markets Most Likely to Outperform in 2020? Look South
Zillow| January 2, 2020
A collection of relatively affordable, sun-belt markets are among those in which home value growth in 2020 is most expected to outperform the national average, according to a panel of experts recently surveyed by Zillow.
Housing starts soar to a 13-year high
Housing Wire| January 17, 2020
Housing construction continued to improve in December as the nation’s homebuilders increased their building efforts nationwide, sending the unadjusted pace to a 13-year high.
Mortgage rates inch forward to 3.65%
Housing Wire| January 16, 2020
This week, the average U.S. fixed rate for a 30-year mortgage averaged 3.65%. While this percentage is slightly above the previous week’s average, it’s still 80 basis points below the 4.45% of the same week last year, according to the Freddie Mac Primary Mortgage Market Survey.
Some homebuyers value their real estate agent as much as a therapist
Housing Wire| January 13, 2020
How important is a real estate agent to homebuyers and sellers? Well, according to new survey, a majority of homebuyers and sellers feel that an agent is more important to them than their therapist.In fact, the new survey from Century 21 shows that a majority of homebuyers and sellers say they value and confide in their agents more than a therapist, and know them better than their own neighbors.
California reportedly launching its own CFPB
Housing Wire| January 9, 2020
California already has one of the most active state agencies in terms of regulating and (when necessary) punishing the financial services industry: the California Department of Business Oversight.
The biggest mortgage industry trends of 2019 that will carry into 2020
Housing Wire| January 10, 2020
The last 365 days proved that as much as the industry tries to predict the real estate market, nothing beats proactively preparing for any type of lending environment. The best example of this was also one of the biggest mortgage industry trends of 2019: the drop in interest rates.
The most popular features in real estate listings
Housing Wire| January 10, 2020
Point2 Homes, a real estate listing website, analyzed the language in 1.2 million home listings across the U.S. and came up with the most common phrases.The three most frequently-used feature descriptions for homes priced under $5 million were: “granite countertops,” “hardwood floors,” and “stainless steel appliances.” Next on the list: “open floor plan,” “fenced backyard,” and “covered patio.”
Real estate bidding wars return to another 10-year low in December
Housing Wire| January 8, 2020
Despite low housing supply continuing to affect the housing market as 2019 came to an end, Redfin indicates the frequency of bidding wars for real estate continued to fall. According to the company, only 9% of purchasing offers made on its site faced a bidding war during the month. Not only is this percentage down 12% from last year’s rate, but it also pushed the rate down to another 10-year-low.
What's keeping some people from buying a house? Child care is ridiculously expensive
Housing Wire| January 7, 2020
Homebuyers are left with less money to buy or rent a home due to the rising cost of child care, a new insight from Freddie Mac said. The real price of child care has increased by 49% over the last 25 years, yet the cost of housing has only increased 14% in 25 years
Why are people staying in their houses for so long?
Housing Wire| January 7, 2020
Housing professionals and economists repeatedly assert that American homeowners are staying in the same houses longer and provide a few theories as to why.
Where will the hottest housing markets be in 2020? Go south
Housing Wire| January 2, 2020
The hottest housing markets in 2020 will be the ones where the weather is hotter too. New data from Zillow suggests that southern markets are expected to outperform other national markets this year. More specifically, Austin, Texas will stand out the most, according to a new survey from Zillow.
FHA, Fannie Mae, Freddie Mac are all now backing larger loans
Housing Wire| January 2, 2020
With the calendar now officially flipped to 2020, Fannie Mae, Freddie Mac, and the Federal Housing Administration are now backing larger mortgages than they were just a few days ago. That’s because the 2020 loan limits for each of those agencies are now in effect. And each of the agencies’ loan limits are higher for 2020 than they were in 2019.
FHFA: U.S. home prices climb 5% from last October
Housing Wire| December 31, 2019
Home prices increased in October, rising only 0.2% from the previous month but up 5% from 2018, according to the latest monthly House Price Index from the Federal Housing Finance Agency.
The 2010s: A decade that changed the way agents work
Housing Wire| December 30, 2019
The 2010s marked a tectonic shift in the way real estate agents conduct business.It wasn’t the most tumultuous decade in real estate history. The 2000s have that distinction because of the record-setting crash that started in 2007. But looking at the way agents spend their days, few 10-year stretches have seen such change.
Americans are cashing-out home equity with higher rates
Housing Wire| December 30, 2019
Americans are cashing out home equity by refinancing their mortgages, even if it means they’re paying higher interest rates.
Nearly 60% of cash-out refinancings in 2018 came with higher interest rates, the biggest share since before the financial crisis, according to a Wall Street Journal story citing mortgage-data firm Black Knight.
Pending home sales rise 1.2% in November after October's decline
Housing Wire| December 30, 2019
Reversing course from October’s decline, the National Association of Realtors indicates the nation’s pending home sales increased in November. During the month, the Pending Home Sales Index, a forward-looking indicator based on contract signings, increased to 108.5, rising from October’s 106.7
Lack of housing supply sends home sales retreating in November
Housing Wire| December 19, 2019
The nation’s existing-home sales declined 1.7% in November, according to the National Association of Realtors.Total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums, and co-ops – fell to a seasonally adjusted annualized rate of 5.35 million. However, sales are still 2.7% above November 2018’s rate.
Bold Predictions for 2020: Shrinking Homes and a More Stable Market
Zillow.com| December 9, 2019
With the housing market stabilizing from the drama of the early years of home price recovery and the subsequent slowdown during 2019’s home shopping season, we have a rare moment of calm to reflect on what housing might look like in the year to come.
L.A. is the hottest housing market in California
Housing Wire| December 17, 2019
Los Angeles beat San Francisco in November as the hottest real estate market in the nation’s most populous state, according to a report by the California Association of Realtors.
U.S. economic growth pushes home builder confidence to 10-year high
Housing Wire| December 16, 2019
Homebuilder confidence grew in December thanks to the nation’s low-interest rates and strong job market, according to this month’s Housing Market Index.
Here’s what will happen in multifamily real estate in 2020
Housing Wire| December 13, 2019
After a strong year in multifamily housing, expect an even stronger one in 2020, according to RealPage Chief Economist Greg Willett. In an interview with HousingWire, Willett said the apartment market is in great shape, and even the luxury market will see competition in 2020. Occupancy rates were as high as 96.3% this year, a figure Willett said is well above the long-term norm.
Fed holds steady, signals no interest rate changes through 2020
Housing Wire| December 11, 2019
The Federal Reserve left its benchmark rate unchanged on Wednesday and signaled it plans to hold steady through 2020, barring unexpected economic news.All the members of the Federal Open Market Committee supported the decision to keep the rate in the 1.5% to 1.75% range, the first unanimous vote since its May meeting.
Realtors expect these to be the 10 hottest housing markets for the next 3-5 years
Housing Wire| December 11, 2019
On the whole, the nation’s housing prices continued to rise throughout this year and are expected to continue to do so into the foreseeable future. But, according to the National Association of Realtors, there are a handful of markets that are expected to rise above the rest over the next half-decade or so in terms of performance.
First-time homebuyers are making a comeback
Housing Wire| December 10, 2019
First-time homebuyers are making a comeback this year as they made up 39% of all buyers in the single-family housing market during the third quarter, according to the third quarter First-Time Homebuyer Market Report from Genworth Financial.
U.S. unemployment rate falls to 50 -year low
Housing Wire| December 6, 2019
The U.S. unemployment rate fell to another 50-year low, coming in at 3.5% in November as the economy added 266,000 jobs after October’s upwardly revised 156,000 jobs, according to the Bureau of Labor Statistics.
U.S. home prices heated up in October thanks to low rates
Housing Wire| December 4,2019
U.S. home prices grew at an annual pace of 4.25% in October, the biggest year-over-year gain in nine months, compared with an increase of 3.9% in September, as cheaper financing gave people the ability to bid up home prices, the company said.
The Biggest Changes Coming in 2020 Real Estate- and What Buyers and Sellers Need to Do
Realtor.com/ December 4,2019
Ten years ago, many homeowners were desperately hoping to hang on to their homes. Others were doing everything they could just to scare up potential buyers. Meanwhile, said buyers were struggling to get financing from newly skittish lenders. Ah, memories. What a difference a decade makes!
5 nuances worth noting in mortgage and housing forecasts
National Mortgage News/ November 27, 2019
The 2020 outlook for mortgage lending is generally strong, with many projecting a slight slowdown. Hence it's important to minimize underlying risks and maximize opportunities that might otherwise be missed.
Freddie Mac: Here’s what to expect from the housing market in 2020 and beyond
Housing Wire| November 27,2019
Just over a year ago, mortgage rates nearly hit 5%, levels that hadn’t been seen since the early part of this decade. But as we get ready to move into a new decade, mortgage rates are more than a full percentage point lower than that, comfortably back in the 3% range. And according to a new forecast from Freddie Mac, mortgage rates should stay that low for the rest of this year and well beyond that.
Housing Wire| January 27, 2020
Millennials are buying homes. This much is known. But, despite the much-discussed generation making their entrance into the housing market, many still are still very uneasy about the process.
A solution to the inventory problem? Housing starts are expected to rise this year
Housing Wire| January 23, 2020
Economics has long been dubbed “the dismal science.” But the economists at Capital Economics are showing some optimism for single-family housing starts in 2020. Their latest report predicts single-family housing starts to average around 1 million annualized this year.
Home seller profits hit new high as people are staying in their homes longer than ever
Housing Wire| January 23, 2020
People are staying in their homes longer than ever before, but it may pay off big for them should they choose to move.That’s according to a recent report from ATTOM Data Solutions, which stated that both homeownership tenure and home seller profits simultaneously hit new highs.
Home prices climb 6.9% in December
Housing Wire| January 21, 2020
In December, home sale-prices climbed 6.9% year over year, rising to a median of $312,500 across 217 housing markets, according to new data from Redfin. Month over month, home sale-prices rose 1.1% on a seasonally adjusted basis, marking the largest increase since February of 2018.
Looking for the Housing Markets Most Likely to Outperform in 2020? Look South
Zillow| January 2, 2020
A collection of relatively affordable, sun-belt markets are among those in which home value growth in 2020 is most expected to outperform the national average, according to a panel of experts recently surveyed by Zillow.
Housing starts soar to a 13-year high
Housing Wire| January 17, 2020
Housing construction continued to improve in December as the nation’s homebuilders increased their building efforts nationwide, sending the unadjusted pace to a 13-year high.
Mortgage rates inch forward to 3.65%
Housing Wire| January 16, 2020
This week, the average U.S. fixed rate for a 30-year mortgage averaged 3.65%. While this percentage is slightly above the previous week’s average, it’s still 80 basis points below the 4.45% of the same week last year, according to the Freddie Mac Primary Mortgage Market Survey.
Some homebuyers value their real estate agent as much as a therapist
Housing Wire| January 13, 2020
How important is a real estate agent to homebuyers and sellers? Well, according to new survey, a majority of homebuyers and sellers feel that an agent is more important to them than their therapist.In fact, the new survey from Century 21 shows that a majority of homebuyers and sellers say they value and confide in their agents more than a therapist, and know them better than their own neighbors.
California reportedly launching its own CFPB
Housing Wire| January 9, 2020
California already has one of the most active state agencies in terms of regulating and (when necessary) punishing the financial services industry: the California Department of Business Oversight.
The biggest mortgage industry trends of 2019 that will carry into 2020
Housing Wire| January 10, 2020
The last 365 days proved that as much as the industry tries to predict the real estate market, nothing beats proactively preparing for any type of lending environment. The best example of this was also one of the biggest mortgage industry trends of 2019: the drop in interest rates.
The most popular features in real estate listings
Housing Wire| January 10, 2020
Point2 Homes, a real estate listing website, analyzed the language in 1.2 million home listings across the U.S. and came up with the most common phrases.The three most frequently-used feature descriptions for homes priced under $5 million were: “granite countertops,” “hardwood floors,” and “stainless steel appliances.” Next on the list: “open floor plan,” “fenced backyard,” and “covered patio.”
Real estate bidding wars return to another 10-year low in December
Housing Wire| January 8, 2020
Despite low housing supply continuing to affect the housing market as 2019 came to an end, Redfin indicates the frequency of bidding wars for real estate continued to fall. According to the company, only 9% of purchasing offers made on its site faced a bidding war during the month. Not only is this percentage down 12% from last year’s rate, but it also pushed the rate down to another 10-year-low.
What's keeping some people from buying a house? Child care is ridiculously expensive
Housing Wire| January 7, 2020
Homebuyers are left with less money to buy or rent a home due to the rising cost of child care, a new insight from Freddie Mac said. The real price of child care has increased by 49% over the last 25 years, yet the cost of housing has only increased 14% in 25 years
Why are people staying in their houses for so long?
Housing Wire| January 7, 2020
Housing professionals and economists repeatedly assert that American homeowners are staying in the same houses longer and provide a few theories as to why.
Where will the hottest housing markets be in 2020? Go south
Housing Wire| January 2, 2020
The hottest housing markets in 2020 will be the ones where the weather is hotter too. New data from Zillow suggests that southern markets are expected to outperform other national markets this year. More specifically, Austin, Texas will stand out the most, according to a new survey from Zillow.
FHA, Fannie Mae, Freddie Mac are all now backing larger loans
Housing Wire| January 2, 2020
With the calendar now officially flipped to 2020, Fannie Mae, Freddie Mac, and the Federal Housing Administration are now backing larger mortgages than they were just a few days ago. That’s because the 2020 loan limits for each of those agencies are now in effect. And each of the agencies’ loan limits are higher for 2020 than they were in 2019.
FHFA: U.S. home prices climb 5% from last October
Housing Wire| December 31, 2019
Home prices increased in October, rising only 0.2% from the previous month but up 5% from 2018, according to the latest monthly House Price Index from the Federal Housing Finance Agency.
The 2010s: A decade that changed the way agents work
Housing Wire| December 30, 2019
The 2010s marked a tectonic shift in the way real estate agents conduct business.It wasn’t the most tumultuous decade in real estate history. The 2000s have that distinction because of the record-setting crash that started in 2007. But looking at the way agents spend their days, few 10-year stretches have seen such change.
Americans are cashing-out home equity with higher rates
Housing Wire| December 30, 2019
Americans are cashing out home equity by refinancing their mortgages, even if it means they’re paying higher interest rates.
Nearly 60% of cash-out refinancings in 2018 came with higher interest rates, the biggest share since before the financial crisis, according to a Wall Street Journal story citing mortgage-data firm Black Knight.
Pending home sales rise 1.2% in November after October's decline
Housing Wire| December 30, 2019
Reversing course from October’s decline, the National Association of Realtors indicates the nation’s pending home sales increased in November. During the month, the Pending Home Sales Index, a forward-looking indicator based on contract signings, increased to 108.5, rising from October’s 106.7
Lack of housing supply sends home sales retreating in November
Housing Wire| December 19, 2019
The nation’s existing-home sales declined 1.7% in November, according to the National Association of Realtors.Total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums, and co-ops – fell to a seasonally adjusted annualized rate of 5.35 million. However, sales are still 2.7% above November 2018’s rate.
Bold Predictions for 2020: Shrinking Homes and a More Stable Market
Zillow.com| December 9, 2019
With the housing market stabilizing from the drama of the early years of home price recovery and the subsequent slowdown during 2019’s home shopping season, we have a rare moment of calm to reflect on what housing might look like in the year to come.
L.A. is the hottest housing market in California
Housing Wire| December 17, 2019
Los Angeles beat San Francisco in November as the hottest real estate market in the nation’s most populous state, according to a report by the California Association of Realtors.
U.S. economic growth pushes home builder confidence to 10-year high
Housing Wire| December 16, 2019
Homebuilder confidence grew in December thanks to the nation’s low-interest rates and strong job market, according to this month’s Housing Market Index.
Here’s what will happen in multifamily real estate in 2020
Housing Wire| December 13, 2019
After a strong year in multifamily housing, expect an even stronger one in 2020, according to RealPage Chief Economist Greg Willett. In an interview with HousingWire, Willett said the apartment market is in great shape, and even the luxury market will see competition in 2020. Occupancy rates were as high as 96.3% this year, a figure Willett said is well above the long-term norm.
Fed holds steady, signals no interest rate changes through 2020
Housing Wire| December 11, 2019
The Federal Reserve left its benchmark rate unchanged on Wednesday and signaled it plans to hold steady through 2020, barring unexpected economic news.All the members of the Federal Open Market Committee supported the decision to keep the rate in the 1.5% to 1.75% range, the first unanimous vote since its May meeting.
Realtors expect these to be the 10 hottest housing markets for the next 3-5 years
Housing Wire| December 11, 2019
On the whole, the nation’s housing prices continued to rise throughout this year and are expected to continue to do so into the foreseeable future. But, according to the National Association of Realtors, there are a handful of markets that are expected to rise above the rest over the next half-decade or so in terms of performance.
First-time homebuyers are making a comeback
Housing Wire| December 10, 2019
First-time homebuyers are making a comeback this year as they made up 39% of all buyers in the single-family housing market during the third quarter, according to the third quarter First-Time Homebuyer Market Report from Genworth Financial.
U.S. unemployment rate falls to 50 -year low
Housing Wire| December 6, 2019
The U.S. unemployment rate fell to another 50-year low, coming in at 3.5% in November as the economy added 266,000 jobs after October’s upwardly revised 156,000 jobs, according to the Bureau of Labor Statistics.
U.S. home prices heated up in October thanks to low rates
Housing Wire| December 4,2019
U.S. home prices grew at an annual pace of 4.25% in October, the biggest year-over-year gain in nine months, compared with an increase of 3.9% in September, as cheaper financing gave people the ability to bid up home prices, the company said.
The Biggest Changes Coming in 2020 Real Estate- and What Buyers and Sellers Need to Do
Realtor.com/ December 4,2019
Ten years ago, many homeowners were desperately hoping to hang on to their homes. Others were doing everything they could just to scare up potential buyers. Meanwhile, said buyers were struggling to get financing from newly skittish lenders. Ah, memories. What a difference a decade makes!
5 nuances worth noting in mortgage and housing forecasts
National Mortgage News/ November 27, 2019
The 2020 outlook for mortgage lending is generally strong, with many projecting a slight slowdown. Hence it's important to minimize underlying risks and maximize opportunities that might otherwise be missed.
Freddie Mac: Here’s what to expect from the housing market in 2020 and beyond
Housing Wire| November 27,2019
Just over a year ago, mortgage rates nearly hit 5%, levels that hadn’t been seen since the early part of this decade. But as we get ready to move into a new decade, mortgage rates are more than a full percentage point lower than that, comfortably back in the 3% range. And according to a new forecast from Freddie Mac, mortgage rates should stay that low for the rest of this year and well beyond that.