Appraisal Buzz

AUGUST 14, 2024

With lower housing costs and more homes for sale, these second cities clustered in the South, Midwest, and Northeast, are likely to continue to attract movers from all over.” Over the past 12 months, homes in Columbus attracted 0.9% Homes in Louisville typically receive three offers and sell after about 24 days on the market.

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Appraisal Buzz

AUGUST 22, 2024

The third-quarter 2024 Vacant Property and Zombie Foreclosure Report reveals a significant decline in abandoned homes in foreclosure, reflecting the continued resilience of the U.S. housing market. or one in 76 homes. housing market,” said Rob Barber, CEO of ATTOM. housing market.

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Housing Wire

JULY 25, 2022

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. Freddie Mac projects that home-price growth will average 12.8%

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Housing Wire

JANUARY 9, 2023

“With many homebuilders feeling the impact of rising mortgage rates on new-home sales, delivering units for rent is expected to continue to become a larger segment of the overall single-family housing market.”. on an annualized basis, according to Fannie Mae , to as much as 20%, according to some market forecasts.

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Housing Wire

DECEMBER 1, 2022

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. ” In the Dallas district, housing outlooks worsened, with those interviewed expecting “further erosion in sales and home starts in the near term.”

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Housing Wire

MARCH 15, 2024

Prospective homebuyers have more options to choose from in the housing market, which could help spur sales this spring. The typical home in the U.S. was worth $349,216 in February, according to the Zillow Home Value Index. compared to February of 2023. That’s up 4.2%

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Housing Wire

JANUARY 16, 2025

Cleveland-based Corporate Settlement Solutions (CSS) released an analysis Thursday that highlights a growing gap between appraised home values and sale prices. That share was up from 53% in the second half of 2023 and 51% in the first half of 2024. home prices rose by 3.6% year over year in October 2024.

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Housing Wire

AUGUST 8, 2024

That’s according to a new report from Redfin , which shows that housing has added $3.1 trillion in value over the past year, bringing its total value to $49.6 rise in total value compared to June 2023 and 120% higher than in June 2014. Generationally, homes owned by millennials saw their aggregate value rise 21.5%.

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Housing Wire

JULY 25, 2023

According to a survey of roughly 2,000 U.S. Among the top migration destinations most impacted by climate risk, coastal Florida has seen nearly 60,000 more people move in than move out over the past two years.

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Appraisal Buzz

JUNE 20, 2024

Zillow found that 43% of last year’s home buyers used a gift from family or friends for at least a portion of their down payment, the highest share reported since 2018. metropolitan areas, the typical home is affordable to a median-income household with less than 20% down. Locating pockets of affordability In 10 major U.S.

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Appraisal Buzz

NOVEMBER 26, 2024

Earlier today, the FHFA published its Q3 2024 FHFA House Price Index (FHFA HPI) report , which includes statistics for the increase in the average U.S. home value over the last four quarters. house prices increased 5.21%, on average, between the third quarters of 2023 and 2024. According to the report, U.S.

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Inman

FEBRUARY 28, 2024

Despite slowing sales, the value of the U.S. housing market experienced record-breaking growth in 2023, according to Redfin's latest housing report. The total value of 90 million U.S. homes rose from $45.1 trillion in December 2023 — a 5.3 trillion in December 2022 to $47.5

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Housing Wire

MAY 29, 2024

The homeownership rate among Black Americans has risen at a faster-than-average rate since 2019, but it remains well below the high point reached in 2004, according to Home Mortgage Disclosure Act (HMDA) data compiled by Zillow. The movement in the housing market exacerbates the economic challenges faced by borrowers of color.

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Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. I think in 2023, we’re going to see rates higher for longer,” Toohig concludes.

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Appraisal Buzz

OCTOBER 8, 2024

To rank the 50 largest metro areas in the US by percentage of vacant homes, LendingTree examined the most recent data from the American Community Survey conducted by the U.S. They also examined the causes, as knowledge of an area’s vacancy rate might be crucial to comprehending the general state and nature of its housing market.

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Appraisal Buzz

JULY 10, 2024

VeroFORECAST evaluates home prices in over three hundred of the nation’s largest housing markets, and the company is committed to the data science of predicting home value based on rigorous analysis of the fundamentals and interrelationships of numerous economic, housing, and geographic variables pertaining to home values.

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Housing Wire

JULY 25, 2023

The number of property insurance lawsuits in the state skyrocketed – in 2023 alone, the state is on track to have more than 130,000 property policy lawsuits, accounting for 79% of all property insurance lawsuits filed nationwide. times their hourly billing rate should the court rule in favor of the policy holder.

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Housing Wire

MAY 24, 2024

Median prices for homes and condominiums in federally designated opportunity zones rose in 49% of areas from fourth-quarter 2023 to first-quarter 2024, according to a report released Thursday by Attom. Attom analyzed 3,512 zones with sufficient data, defined as having at least five home sales in Q1 2024. territories.

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Housing Wire

NOVEMBER 22, 2023

For the fourth consecutive month , homebuilder confidence sank in November, according to the National Association of Home Builders /Wells Fargo Housing Market Index published last week. The Western pessimism is also unsurprising given the year-over-year declines Western states have seen in home values.

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Housing Wire

MARCH 25, 2024

In 2023, homeowners insurance premiums consumed 3.1% In 2018, the average borrower paid $1,081 per year for a single-family, owner-occupied home with a conventional 30-year fixed-rate mortgage. But by 2023, this figure surged to $1,522 — an increase of 10.8% per $1,000 of their home’s value in 2023, compared to $4.70

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Housing Wire

MAY 8, 2024

Out of 221 metro markets analyzed, 205 (93%) posted yearly home price gains in Q1 2024, while 30% experienced double-digit price gains during the same period — up from 15% in the fourth quarter of 2023 — according to the National Association of Realtors ’ (NAR) newest quarterly report. year over year in Q4 2023.

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Marketing Buyers Realtors Home Value 526

Housing Wire

JUNE 26, 2024

To calculate the amount of time it takes minimum-wage workers to save for a down payment, the company analyzed Zillow ‘s median values for single-family homes and condominiums from May 2023 through April 2024. per hour and a median home value of $349,000. Department of Labor.

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Appraisal Buzz

OCTOBER 18, 2024

HUD and the Census Bureau found that privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,354,000, which was 0.5% below the September 2023 rate of 1,363,000. Single-family housing starts in September were at a rate of 1,027,000—2.7% below the September 2023 rate of 1,515,000.

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Housing Wire

NOVEMBER 28, 2023

The regulator compares home prices year over year and adjusts the limit by the corresponding amount. In 2022, the housing market was a little hotter than this year due to lower mortgage rates, pushing home prices up. Ultimately, the FHFA announced a 12.21% increase in loan limits for 2023.

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Housing Wire

MARCH 13, 2024

million Americans in 2023. homes, valued at $19.7 “It’s important for people to fully understand the climate risks that a home faces not only in the present, but in the future, so they can make the most informed decision for one of the biggest purchases and investments they will make in their life.”

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Appraisal Buzz

AUGUST 9, 2024

The rise in prices inside Opportunity Zones—a key component of the Tax Cuts and Jobs Act of 2017 aimed at spurring economic revival in low-income neighborhoods—mirrors the broader national market trends seen during the spring home-buying season. The trickle-down impact of the extended housing market boom across the U.S.

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Housing Wire

DECEMBER 26, 2023

house prices increased year over year in October, according to the Federal Housing Finance Agency (FHFA) House Price Index. In fact, home prices climbed 6.3% from October 2022 to October 2023, compared to 5.5% Meanwhile, home prices in the Mountain division were 2.6% in the Middle Atlantic division.

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Appraisal Buzz

SEPTEMBER 5, 2024

elementor-widget-text-editor.elementor-drop-cap-letter{display:inline-block} The latest Fannie Mae Home Price Expectations Survey (HPES) , produced in partnership with Pulsenomics, examining third quarter 2024 data, has found that following home price growth of 6.0% in 2023, an annual national home price growth of 4.7%

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Appraisal Buzz

DECEMBER 6, 2024

Research indicates that rising land prices have significantly outpaced the appreciation of home structures, contributing to a disparity in overall value growth. Land costs now comprise a larger share of home values, increasing from 35.7% in 2023, according to American Enterprise Institute data. in 2012 to 57.4%

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Housing Wire

JUNE 7, 2024

Mortgaged properties account for 62% of all residential homes in the U.S., With home prices continuing to reach new highs, owners are also seeing their equity approach the historic peaks of 2023, close to a total of $305,000 per owner,” Selma Hepp , chief economist at CoreLogic, said in a statement. according to CoreLogic.

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Housing Wire

AUGUST 16, 2024

housing market may have slowed during the second quarter of the year, investors did not take their foot off the gas. The number of home purchases by investors rose 3.4% home purchases fell 1.9% during the same period, which Redfin attributed to elevated mortgage rates and home prices. Although the U.S.

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Investors Tenants Real Estate Property Taxes 468

Housing Wire

NOVEMBER 26, 2024

The Federal Housing Finance Agency (FHFA) has set a new baseline conforming loan limit of $806,500 for one-unit properties in 2025, authorizing Fannie Mae and Freddie Mac to purchase mortgages up to this amount. increase over the current $766,550 cap for 2024, aligning with home price trends. The new limit reflects a 5.2% increase

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Housing Wire

JANUARY 3, 2024

If a Colorado teacher making the average salary had $20,000 to put towards a down payment and were willing to spend 30% of their pre-tax salary on their mortgage payment, she could afford a house that cost about $225,000. When teachers can’t afford to buy homes, school districts can’t hire teachers.

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Appraisal Buzz

AUGUST 16, 2024

housing market saw a significant uptick in the second quarter of 2024, with purchases rising 3.4% Investors bought approximately one out of every six homes sold in the quarter, representing $43 billion in transactions, marking a 13.7% Investor activity in the U.S. increase from a year earlier.

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Housing Wire

JANUARY 2, 2023

With the Federal Reserve expected to continue increasing interest rates in 2023, albeit at a slower pace, Lazzara said he expects the decline in home price growth to continue. “As As the Federal Reserve moves interest rates higher, mortgage financing becomes more expensive and housing becomes less affordable,” Lazzara said.

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Appraisal Buzz

JULY 1, 2024

Over the past few years, the most popular housing markets in the U.S. have experienced significant changes, showing a pattern of ongoing development and evolution, according to CoreLogic’s May Home Price Insights report. Leading the lead in March 2023 were Miami and Florida. In 2024, the top 10 fastest-appreciating U.S.

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Housing Market Inventory Real Estate Marketing 418

Housing Wire

JANUARY 13, 2023

The nation’s single-family investment-property sector and the lenders serving those borrowers face some major challenges in 2023 as rent growth is slipping, vacancy rates growing, home-value growth faltering, and a possible recession looms. . by the end of 2023,” the MBA’s December market-forecast report states.

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