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The U.S. has experienced two decades of slow but steady housing market growth, paired with inventory growth that has suffered through both the Great Recession and the pandemic. Only now is it returning to 2006-2007 levels, with a typical annual increase of over 1%. A new study by StorageCafe analyzed data from nearly 500 cities from the past 18 years to determine the cities with the fastest growing housing markets, and the South was a clear winner.
Whats the housing market going to do in 2025? Nobody has a crystal ball, but here are some things on my mind. Scroll quickly by topic or digest slowly. Anything to add? UPCOMING SPEAKING GIGS: 1/15/25 Mike & Joel Event (free online (register Eventbrite)) 1/16/25 Sac Real Producers event (details TBA) 1/22/25 Windermere El Dorado […] The post Real estate trends to watch in 2025 first appeared on Sacramento Appraisal Blog.
The California Department of Insurance unveiled a new regulation this week that aims to increase homeowners insurance coverage in areas prone to wildfires , a response to the recent pullback in policies by several major insurers. Announced by California insurance commissioner Ricardo Lara on Monday, the regulation is under administrative review and is set to take effect by the end of January, according to reporting by The Associated Press (AP).
Time adjustments are now required by Fannie Mae and Freddie Mac. Time adjustments were previously required when necessary. Now a market conditions adjustment isrequired on every appraisal. This means that even if personal judgment says the subject market is stable, ananalysis must be performedto arrive at the zero adjustment conclusion. An FHFA (Federal Housing Finance […] The post What Time is It?
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
The NAHB/Westlake Royal Remodeling Market Index (RMI) posted a reading of 68 for the fourth quarter of 2024, up five points compared to the previous quarter. Remodelers are more optimistic about the market than they were earlier in the year, corroborated by NAHBs recent analysis of home improvement loan applications. Demand in many parts of.
As the New Year settles in, unfortunately, homeownership and financial stability are still a worry for millions of hard-working Americans. Through the Eviction Protection Grant Program (EPGP), a first-of-its-kind federal program created to increase the availability of legal services to tenants at risk of or subject to eviction, the U.S. Department of Housing and Urban Development (HUD) granted $40 million in funding to 21 recipients to support housing stability and prevent evictions and homeless
The housing market is heating up, but it’s not blazing hot. The temperature so far in January feels warmer than anything. In other words, we’re seeing some spring vibes, but it hasn’t been completely insane. Let’s unpack that today. Scroll quickly by topic or digest slowly. Any thoughts? UPCOMING SPEAKING GIGS: 1/31/25 Prime Real Estate […] The post The housing market is warm.
The 10-year yield and mortgage rates have been on a wild ride lately, even testing my top-end forecast at 7.25%, but today, the 10-year yield fell after remarks by Fed President Chris Waller about whether the Fed would do even more rate cuts than the market was anticipating. His statement on this, in a CNBC interview : If inflation continues on this path through the beginning of 2025, it’s reasonable to think that possibly rate cuts could happen in the first half of the year.” This w
Originally published on 04/26/2017. Optimize your real estate management with digital forms Property management and real estate are dynamic industries with responsibilities that constantly shift, ranging from tenant placement to ensuring compliance with real estate board regulations. For professionals striving to deliver exceptional service, staying organized and responsive is key.
Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.
The worst on record rental affordability conditions, depleted excess savings of the pandemic era, and high mortgage rates halted the post-pandemic trend of young adults moving out of parental homes. The share of adults ages 25-34 living with parents or parents-in-law hovered just above 19% in 2023, stagnant from 2022, according to NAHBs analysis of.
Todays new home sales report beat market expectations, just like last weeks existing home sales report. However, a detailed analysis of the data explains why housing permits continue to remain at recession-level figures. Builders are struggling to get clarity on how many homes they can sell in this rate environment in the future. Without more clarity on mortgage rates , substantial growth in housing permits is unlikely.
Todays housing starts data exceeded estimates; however, a closer examination of the report with the builder confidence reveals that the recent rise in mortgage rates , approaching 7.25%, has negatively affected builder sentiment. Since late 2022, our analysis indicates that mortgage rates in the 6%-6.5% range are positive to grow sales, whereas rates at 7% and above especially 7.50% or higher significantly impact the builder data.
Several fires burning more than 45 square miles in the Los Angeles area have forced more than 100,000 residents from their homes and killed five people, The Associated Press reported on Thursday. Nearly 2,000 homes, businesses and other structures have been destroyed, with many displaced residents scouting for rental properties and temporary shelter.
Existing home sales ended the year on a positive note , which aligns with our weekly Housing Market Tracker data, but something surprising is that home prices firmed up late in the year as well. We observed a shift in the forward-looking data starting in the summer, which continued throughout the year. Notably, we compared the data from 2022 and 2023 and noticed positive year-over-year data starting in October 2024, which you can see in the chart below.
Real estate and mortgage firms are stepping up to help housing professionals and the Southern California community as wildfires ravage the area. Here’s a roundup of the companies and people offering help, which will be updated with new information as it becomes available. Help for those in the community Coldwell Banker Realty in Southern California, which is affiliated with Anywhere , created a Facebook group page for its network to coordinate a wide variety of needs from short- and long-t
This week, the Seattle City Council had its first meeting of 2025 and housing was a key topic of discussion. But if the meeting itself was any indication, determining a path forward for the citys severe housing shortage will be a struggle as elected leaders attempt to ascertain a sustainable plan for the next decade, according to reporting by The Seattle Times.
The housing market in 2024 was about as frustrating for the real estate industry as you can imagine. High mortgage rates, low inventory and sky-high prices resulted in historically low sales at a time when agents are already wrestling with the changes related to the $418 million antitrust settlement signed by the National Association of Realtors (NAR).
As wildfires tear through Southern California and firefighters battle winds up to 100 mph, tens of thousands of residents have evacuated. The looming impacts on real estate and insurance are also at the forefront of Californians minds. According to Anthony Marrone, the fire chief for Los Angeles County , the wildfires have torched more than 1,000 structures, killing at least two people and injuring several more.
Single-family rental ( SFR ) homes are now priced 20% higher than the typical apartment, according to Zillow s rental market report for December 2024. This is the largest difference ever recorded by the real estate portal as the pricing gap has grown considerably from pre-pandemic levels. Zillow analyzed the 50 largest U.S. metro areas and found that the typical asking rent for a single-family home reached $2,174 per month in December.
New home sales continue to be a bright spot in a dismal housing market. The December report from the U.S. Census Bureau and Department of Housing and Urban Development shows new-home sales registering at a seasonally adjusted annual rate of 698,000, good for a 6.7% rise year over year and 3.6% higher than November. Even better, new home sales for the calendar year 2024 are estimated at 683,000, which is 2.5% more than 2023 and the highest sales have been since 2021.
While the unemployment rate was up compared to the start of the year, the job market ended the year up, with 256,000 jobs added to the economy in December according to data released Friday by the U.S. Bureau of Labor Statistics (BLS). Unemployment finished the year at a rate of 4.1%, down from 4.2% the month prior. The unemployment rate has hovered at 4.1% or 4.2% for the past seven months.
Pending home sales ended the year on a down note, according to data published on Thursday by the National Association of Realtors (NAR). Compared to a month prior, contract signings fell 5.5% in December, with the Pending Home Sales Index coming in at a reading of 74.4. An index reading of 100 is equal to the level of contract signings in 2001. Annually, pending home sales were down 5.0% compared to a year prior in December.
According to a new study from Redfin , a household making a median U.S. income of $83,782 in 2024 wouldve had to spend 41.8% of their earnings on monthly housing costs if they bought a $429,734 median-priced U.S. home. Thats a slight improvement from 42.2% in 2023, but is considerably less affordable than the typical share of 30% or lower recorded throughout the 2010s.
Vanderbilt Mortgage & Finance , part of Warren Buffetts conglomerate Berkshire Hathaway , has been accused by the Consumer Financial Protection Bureau (CFPB) of manipulating underwriting standards and setting borrowers up to fail in manufactured home loans. The consumer watchdog on Monday filed a lawsuit in a U.S. district court in Tennessee against Vanderbilt for purported violations of the Truth in Lending Act and Regulation Z.
In 2024, more people moved out of Illinois than into the Prairie State. According to the National Movers Study conducted by United Van Lines , 60% of moves in Illinois last year were outbound, which was the second-highest percentage of outbound moves among all states. The most popular reasons for relocating out of state were family (cited by 25.9% of respondents), jobs (20.7%) and retirement (20.3%).
Mortgage and property tax payments are not the only expenses that prospective homeowners need to consider. Homeowners associations (HOAs) are commonplace, and more of them are requiring owners to pay up, according to a survey by Realtor.com. Realtor.com’s report found that 40.5% of listings in 2024 had some sort of HOA fee and these expenses became even more costly.
The Housing Rights Initiative (HRI) is taking aim at 165 real estate agents, brokerage firms and landlords in its latest series of lawsuits filed in Chicago. The group claims that this is the largest housing discrimination case in Illinois history. The lawsuits, filed on Monday, are the result of an undercover investigation conducted by HRI. In total, the housing watchdog group filed 176 complaints against 165 defendants with the Illinois Department of Human Rights.
This article originally appeared in the January 2025 edition of MortgagePoint magazine, online now. Title fraud, though not new, recently gained national attention when a Missouri woman attempted to fraudulently auction Elvis Presleys Graceland estate. She falsely claimed the property was collateral for an unpaid loan, using fake loan documents and a fabricated foreclosure notice in a Memphis newspaper.
Fannie Mae ‘s latest Home Price Index (HPI) shows single-family home prices increased 5.8% from Q4 2023 to Q4 2024, a surprising increase from the previous quarter’s downwardly revised annual growth rate of 5.4%. Quarterly, home prices rose a seasonally adjusted 1.7% in Q4 2024, an increase from the downwardly revised 1.2% growth rate in Q3 2024.
The New Years week was expected to be slow, so it’s no surprise that new listings and sales are down. Those will start rebounding in next weeks data. The Christmas and New Year’s holidays fell on Wednesdays this year, which messes up two full weeks in terms of getting home sales done and tracking the numbers. At the same time, mortgage rates jumped back over 7%.
Nationstar Mortgage currently doing business as Mr. Cooper has agreed to settle a lawsuit which alleges that the company violated mortgage servicing laws and forced borrowers into foreclosure. Attorneys general and mortgage regulators in 50 states, as well the District of Columbia, agreed to a settlement that requires Mr. Cooper to provide $5.8 million in payments to eligible borrowers.
As the housing market grows more competitive, rental scams are adding financial and emotional strain to renters nationwide. According to Rentlys Rental Scams and Fraud Report , 93% of U.S. renters believe scams are common, and 90% worry about falling victim themselves. The survey, conducted by Pollfish, underscores the growing crisis and calls for stronger fraud prevention measures.
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