Sat.May 15, 2021 - Fri.May 21, 2021

Existing home sales data: A bad sign for housing market?

Housing Wire

According to the National Association of Realtors, existing home sales for April’s housing market came in at 5,8500,000. This was a miss from estimates and the third straight month of declines in sales.

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Americans See Real Estate as a Better Investment Than Stocks or Gold

Keeping Current Matters

Last month, in a post on the Liberty Street Economics blog, the Federal Reserve Bank of New York noted that Americans believe buying a home is definitely or probably a better investment than buying stocks. Last week, a Gallup Poll reaffirmed those findings.

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Existing Home Sales Fall for the Third Straight Month

Eyes on Housing

After reaching a record high in October, existing home sales, as reported by the National Association of Realtors (NAR), dropped to a ten-month low in April, as tight inventory continues to limit sales and fuel home price growth.

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No Diversity: 96.5% Of U.S. Appraisers Are White

Miller Samuel

Over the past year, beginning with this NY Times piece: Black Homeowners Face Discrimination in Appraisals that initiated a rising progression of news stories covering discrimination in the appraisal of houses. So I looked at U.S. labor force data from the U.S.

Is housing market demand starting to weaken?

Housing Wire

Nearly 50% of homes sold for more than their list price during the four weeks ending May 16, but there are signs that housing market demand may be reaching its peak, according to a recent study from Redfin.

Should I Move or Refinance?

Keeping Current Matters

The level of equity homeowners have is at an all-time high. According to the U.S. Census , over 38% of owner-occupied homes are owned free and clear, meaning they don’t have a mortgage. Those with a mortgage are seeing their equity skyrocket too.

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More Trending

Property sale in Rhode Island first in the nation to be paid in Dogecoin

Inman

Century 21 agent Kyle Seyboth said many real estate investors are using cryptocurrency as a means of offsetting some of the challenges they're facing due to low inventory.

Sales 167

April housing starts drop 13.4% from March

Housing Wire

Skyrocketing prices for lumber, appliances and other building materials continue to handcuff new housing starts all over the country. Single-family housing starts in April dropped 13.4% from March to a rate of 1.09 million, according to the most recent study from the U.S. Census Bureau.

Sellers Are Ready To Enter the Housing Market

Keeping Current Matters

One of the biggest questions in real estate today is, “When will sellers return to the housing market?” An ongoing shortage of home supply has created a hyper-competitive environment for hopeful buyers, leading to the ultimate sellers’ market.

Multifamily Sentiment Improves in the First Quarter of 2021

Eyes on Housing

Confidence in the market for new multifamily housing increased in the first quarter of 2021, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB).

First-Time Homebuyer Loans & Programs

Point2Homes

Image: William Potter / Shutterstock.com. Buying a home might seem simple, but there’s actually a lot more involved than you might initially think. For instance, in addition to a variety of new terms to understand, there’s also paperwork to complete and fees to pay before closing on your new home.

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Fannie alters 2021 forecast due to housing market shortage

Housing Wire

A full month of sub-3% mortgage rates , ongoing housing market supply constraints, and a 300% increase in lumber prices over the past 15 months has prompted Fannie Mae ‘s Economic and Strategic Group to revise several of its 2021 forecasts.

Don’t Forget to Budget for Closing Costs

Keeping Current Matters

When buying a home, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses. Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required to get a mortgage is just as important. What Are Closing Costs?

Growth for Townhouse Construction

Eyes on Housing

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction continued at a strong pace in the first quarter of 2021. This followed the best quarter for townhouse construction in 2.5 years at the end of 2020.

Discrimination still holding back LGBT homeownership: report

Inman

Many members of the LGBT community report experiencing discrimination, and the homeownership rate for the community is a paltry 49 percent.

What if mortgage rates don’t rise this year?

Housing Wire

With the economic expansion well underway, one big question remains: When will mortgage rates move toward 4% and higher? Mortgage rates increased toward 3.25% in mid-February from the recent all-time lows of 2.625% at the start of the year, but then retracted to around 3.0% currently.

Who qualifies as a first-time home buyer?

The Mortgage Report

Who qualifies as a first-time home buyer? It's not always straightforward. You might qualify, even if you've previously owned a home.

Construction Cools as Costs Climb

Eyes on Housing

Housing production declined in April due to rising prices and limited availability of lumber and other building materials. Overall housing starts decreased 9.5% to a seasonally adjusted annual rate of 1.57 million units, according to data from the U.S.

What to Know About a Property Survey: See Why They’re Important

Realty Biz

How Do Land Surveys Work? Are you in need of getting a land survey done? You might have never thought about ever needing a land survey until recently. Is this something people need to go through? No, this is not a compulsory step. However, it is a beneficial, even money-saving, step.

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Investors are buying up single-family homes across the US

Housing Wire

After three straight quarters of declines, home purchases by investors rose 2.7% year over year in the first quarter of 2021, marking the first period of growth since the COVID-19 pandemic began, per a new study from Redfin.

Simple Solutions for Down Payment Saving

American Lifestyle

The post Simple Solutions for Down Payment Saving appeared first on American Lifestyle Magazine. Your First House Downpayment Finance First Home First House First Time Home Buyer Home Advice Home Buyer Real Estate Real Estate Tips

Mortgage Rates Taper Over the Prior Month, Boosting Refinancing

Eyes on Housing

Over the last month, the Mortgage Bankers Association’s (MBA) tracked 30-year fixed-rate mortgage rate dipped below the elevated levels shown in April, mirroring a similar decline in Treasury yields. For the week ending May 14, the average 30-year fixed rate mortgage was 3.15%.

3 tips to make your emails more valuable

Inman

How can you make sure your real estate emails aren’t sent to the trash upon receipt? Simply stated: They need to stand out. Here are a few strategies to get more eyes on your emails every time. Agent Sponsored 3 tips to make your emails more valuable buffini email marketing Referral Maker CRM

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Will AI solve the problem of appraisal bias?

Housing Wire

Accurately establishing a home’s value is not just an important factor in real estate transactions and mortgage lending, it is integral to household wealth creation, as homeownership continues to be one of the primary pathways for Americans to build wealth.

VA loan co-signers: Who can co-sign on a VA loan?

The Mortgage Report

VA loan co-signers are allowed. But the co-signer must be your spouse and/or another VA-eligible borrower. Learn more about VA loan co-signers here. VA Loans VA Refinance

Custom Home Building: 1Q21 Data

Eyes on Housing

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building continues to experience flat conditions amidst strong demand and rising material challenges.

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National delinquency rate dipped below 5% in April

Inman

The national delinquency rate dipped below 5 percent in April, though nearly 1.8 million homeowners were at least 90 days behind on their mortgage payments, an increase of 1.3 million compared to before the pandemic.

National mortgage delinquency rate finally dips below 5%

Housing Wire

April’s 7.08% decline in mortgage delinquencies wasn’t even half of the drop March posted, but it did manage to push the national delinquency rate to below 5% for the first time since the beginning of the pandemic, Black Knight revealed in a new report.

Mortgage rates and inflation: Why are rates going up?

The Mortgage Report

What's the relationship between mortgage rates and inflation? Learn why high inflation might cause mortgage rates to go up this year.

Construction Self-Employment Rates at Record Low

Eyes on Housing

According to the 2019 American Community Survey (ACS), 22% (2.4 million) of construction workers are self-employed. This is significantly higher than an economy-wide average of 9.7% of the employed labor force.

Home with rows and rows of storage goes viral on TikTok

Inman

A Florida home that has more storage space than it does bedrooms is going viral on TikTok for its rows and rows of shelves. Lifestyle Listings News Brief Technology Mary Sue Eubank Panama City News Herald TikTok Zillow

Home prices rapidly climbing toward $375,000

Housing Wire

National median home prices reached $370,528 for the month of April, a 22% increase year over year and a new record, according to a recent study from Redfin. The number of homes for sale also sank to a record-low average of only 19 days on the market.

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Understanding the Closing Costs Associated With a New Home Purchase

RIS Media

The home-buying process can be fun, exhilarating and sometimes stressful—and that’s just searching for the perfect home. The loan process is a whole different process that can seem like a foreign language.

Gains for Single-Family Built-for-Rent Ahead?

Eyes on Housing

Counter to expectations, the number of single-family homes built-for-rent (SFBFR) construction starts posted a year-over-year decline for the first quarter of 2021.