U.S. Home Price Gains Slow for the Second Consecutive Month in June
According to CoreLogic’s latest Home Price Index for June 2022, nationwide home prices grew by 18.3% from June 2021, marking the 125th consecutive month of year-over-year increases. Though annual appreciation was still strong, it slowed from the previous month for the second consecutive month, reflecting reduced buyer demand in part due to higher mortgage rates…
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‘One actionable thing’ that can save prospective homebuyers up to $104,000 over the life of their mortgage
As today’s prospective homebuyers confront high home prices and rising interest rates, there’s one thing they can do to save money — raise their credit scores. “This is one actionable thing buyers can do to save a little bit of money in this market,” said Amanda Pendleton, consumer finance expert at Zillow Home Loans. A…
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Market Uncertainty Causing Property Investors to Rethink Strategies in North America
According to LaSalle’s 2022 Mid-Year Investment Strategy Annual, market direction and economic outlooks have shifted since the start of 2022, with elevated inflation, slowing economic growth, and higher interest rates impacting real estate markets across North America. Overall market shifts are causing real estate investors to revisit earlier strategies as they understand and react to higher…
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Mortgage applications inch up for the first time in five weeks
Mortgage applications inched up last week for the first time since June 24. Total mortgage demand increased 1.2% as the average 30-year fixed mortgage rate made the largest weekly drop since 2020. Applications to refinance a home rose 2%, according to the Mortgage Bankers Association, but the annual drop was still huge, down 82% since…
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U.S. Home Sale Profit Margins Hit Another Record High in 2022
Home profits rise 56 percent in Q2, biggest quarterly gain in a decade Based on ATTOM’s newly released second-quarter 2022 U.S. Home Sales Report, profit margins on median-priced single-family home and condo sales across the United States hit another new record of 55.5 percent following the largest quarterly gain in a decade. On the heels…
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Foreign Buyers Purchased $59 Billion of U.S. Homes Last Year, Ending 3-Year Slide
China and Canada remained top foreign buyers in 2022, Florida still top target market According to a new report from the National Association of Realtors, foreign buyers purchased $59 billion worth of U.S. existing homes from April 2021 through March 2022, an 8.5% increase from the previous 12-month period and stopping a three-year skid in…
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Global Real Estate Sector Lags on Digital Transformation
A new report reveals resistance to change and lack of resources are holding back real estate firms on digital transformation. The study involved more than 175 innovation leads in big real estate organisations at locations worldwide, including British Land, JLL, Cushman & Wakefield and Buro Happold. Authored by Swedish PropTech academic Olli Vigren, the report…
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Mortgage Application Payments Hold Steady in June, Despite Higher Rates
According to the Mortgage Bankers Association’s Purchase Applications Payment Index, U.S. homebuyer affordability was mostly unchanged in June 2022, with the national median payment applied for by applicants down slightly to $1,893 from $1,897 in May 2022. “Median mortgage applications payments have held steady during the last two months but remain much higher than earlier…
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U.S. Tenants Gravitating to Higher Quality Offices in Response to Hybrid Work
According to global property consultant CBRE, there is a “flight to quality” playing out across 12 major U.S. markets as office-using companies adapt their workplaces for hybrid work. A flight to quality traditionally entails users and investors shifting to the highest quality properties in a given commercial real estate sector due to an economic or…
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Home price growth slowed for the second straight month in May, S&P Case-Shiller says
Home prices in May were 19.7% higher compared with the same month last year, according to the S&P CoreLogic Case-Shiller National Home Price Index. This marks the second month of slower increases, as the housing market cools due to higher mortgage rates and increasing concern over inflation. In April, the annual gain was 20.6%. The…
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