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Residential real estate activity picks up despite low inventory

Housing Wire

Residential real estate activity picked up in most Districts despite continued low inventories of homes for sale,” the report states. New York – The residential sales market has been strong across the District. New home builders have benefited from the unseasonably modest sales of existing homes as the resale market has slowed.

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Fed’s Beige Book shows recent moderation in mortgage rates propped up demand for homes

Housing Wire

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday. Days on market increased slightly but remained below historic averages.

Mortgages 341
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Inventory needs to increase to balance housing market: Fed Beige Book

Housing Wire

“Housing markets continued to weaken, with sales and construction declining across [all 12 Federal Reserve] districts,” according to the Federal Reserve Beige Book released on Wednesday. The report noted that “most bankers reported that residential mortgage demand remained weak.” However, housing affordability worsened.

Marketing 371
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Fed’s Beige Book predicts further uncertainty for the housing market  

Housing Wire

Interest rates and inflation continued to dampen activity in the housing market across all 12 Federal Reserve districts, according to the Fed’s latest Beige Book. New York – The home sales market weakened noticeably in recent weeks, and the rental market showed signs of softening. Residential real estate continued to decline.

Marketing 308
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The nation’s housing market is on a correction course

Housing Wire

Boston — First District [Boston] contacts reported that higher mortgage rates had led to somewhat cooler demand for residential real estate, resulting in increased inventories in recent months. Cleveland — Residential construction and real estate activity softened further amid rising interest rates. Rents rose modestly.

Marketing 393
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Fed’s Beige Book offers grim news for housing industry

Housing Wire

Boston — Higher interest rates cooled home-buying demand, leading to fewer closed sales in the First District’s residential real estate markets. Closed sales fell sharply over the year in all reporting markets in a notable weakening from the previous report. Residential real estate activity decreased moderately.

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Xactus targets lenders through active listing data

Housing Wire

Verification solutions provider Xactus wants to court more lenders through its active listing data in a tight housing market. Xactus Wednesday announced its new active listing scan program, which will scan residential addresses for changes in listing status and the average number of days on market for a neighborhood.