President Joe Biden delivered the State of the Union address last week, and there were some interesting takeaways for real estate watchers. Chris Clow of HousingWire reports that the White…
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Newsletter:
Home prices expected to continue to rise in 2024
According to a new report from Redfin, investors purchased 18% of all homes sold in Q4 2023, an 11% drop since last year. “Investor purchases of U.S. homes fell 10.5%…
2024 spring market starting early?
ATTOM Data Solutions recently released a report on commercial real estate highlighting a significant increase in foreclosures from a low of 141 in May 2020 to 635 in January 2024.…
Foreclosures are increasing as interest rates rise
Last week, we received the inflation data showing that the consumer price index (CPI) rose 0.3% in January month-over-month, according to Jeff Cox of CNBC. The year-over-year inflation rate was…
Rate cut expectations dampen on strong economy
Robert Dietz of the National Association of Home Builders (NAHB) reports that although the Federal Reserve held the federal funds rate steady at 5.5%, markets expect a rate cut. That…
Rate cut expectations in 2024 diminish on strong economic data
Apartment List released its monthly rent data report showing a continued slowdown in rent growth. The market saw negative rent growth for the sixth month in a row, with the…
Home sales surge in early 2024
According to Orphe Divounguy of Zillow, new home sales rebounded in December despite higher mortgage rates. According to the data, in December, 664,000 new single-family homes were sold nationwide annualized,…
Fannie says rates to go below 6% in 2024
According to Freddie Mac, mortgage rates have decreased to the lowest level since May 2023. “This is an encouraging development for the housing market and in particular first-time homebuyers who…
Will we see an early spring market in 2024
As mortgage rates hold steady, Dana Anderson of Redfin reports that there has been an increase in new listings and home tours. Mortgage-purchase applications are up 3% from a month…