As the latest coronavirus variant remains a wild card for the housing market, real estate experts are still predicting a mostly lively year for home sales in markets across the country.However, home shoppers may find some relief for escalating home prices, which have been trending with double-digit increases over the past year. Lawrence Yun, chief economist of the National Association of REALTORS®, said earlier this week in a housing report that
Mortgage lending declined at an unusually fast pace across the country during the third quarter, according to a newly released report from ATTOM Data Solutions on mortgage originations. The percentage of mortgages secured by a residential property in the third quarter slipped by 8% compared to the second quarter, the largest quarterly dip in more than a year, researchers note. This also marked the first time in any year since at least 2000 that l
The Federal Housing Finance Agency announced Tuesday that conforming loan limits for mortgages backed by Fannie Mae and Freddie Mac will jump in most of the country to $647,200, an increase of $98,950 from 2021’s limit of $548,250. The higher levels are in response to rising home prices over the past year.The FHFA’s House Price Index shows that home prices rose 18.05%, on average, between the third quarters of 2020 and 2021. The 2022 conformi
Home sales and home prices likely will moderate from recent highs in the new year, but economists expect the hot housing market to continue nonetheless.A competitive seller’s market is likely to stick around in 2022, but economists believe buyers may see better opportunities. Still, housing affordability challenges will persist, they say.“Americans are poised for a whirlwind year of home buying in 2022,” says Danielle Hale, realtor.com®’
As mobile homes attract the attention of buyers facing tight inventory and rising prices, demand for them has been rising rapidly—and their prices have been following.Over a five-year period, the median value of mobile homes rose more quickly in 27 states than the median value of single-family homes, a new study from LendingTree shows.The nationwide median value of a mobile home is $53,300. While that is still nearly $190,000 less than the medi
More brick-and-mortar retail is needed. Store openings are outnumbering closings for the first time in four years, according to an analysis of more than 900 chains by the IHL Group, a research firm.The largest amount of growth is coming from mass merchants, food, drugs and pharmacy, and convenience chains, The Wall Street Journal reports.E-commerce is also driving a lot of the increase in the physical footprints of stores as a grea
The pandemic triggered a suburban home rush, and more than a year in, that doesn’t appear to be letting up. Even as big cities stage a housing comeback, the suburbs remain hot.The number of home buyers shopping nationwide for suburban homes has jumped 42.1% since the pandemic began, realtor.com®’s data shows. Suburban homes comprised 62% of online home views in September compared to 38% for listings in urban areas.“The suburbs have always
Real estate’s typical seasonal slowdown isn’t happening this year. Sales remain high and lookie-loos are still out in force.ShowingTime, a residential real estate showing managing and market stats tech provider, reports “surprising” home buyer activity particularly in the Midwest and South regions during October. They note an unusual jump in home showing traffic.“Showing activity typically slows in the fall, but as the Showing Index has
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This winter is expected to be unseasonably hot for the housing market.“Compared to other past winter seasons, this winter season’s sales activity will be stronger,” says Lawrence Yun, chief economist of the National Association of REALTORS®. “This winter, there will be more sales compared to pre-pandemic winters going back all the way to 2006.”The momentum from the last few months is expected to continue. From March through October, ho
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