Real Estate
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…
Read More
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…
Read More
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…
Read More
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…
Read More
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…
Read More
Here’s what you need to know about reverse mortgages
With the stock market getting volatile but the housing market still hot, reverse mortgages have become a more attractive tool for older Americans who need cash for retirement but want to stay in their homes. Home Equity Conversion Mortgage loan volume was up 26% in March, according to data from the U.S. Department of Housing…
Read More
Big landlords jump into the homebuilding business as demand for single-family rentals surges
As demand for single-family rental homes surges, big landlords are jumping into the homebuilding business to shore up falling supplies. The push comes as more Americans have the flexibility to work from anywhere and are looking for larger spaces with outdoor areas. “This market is very undersupplied. There are not enough quality homes for the…
Read More
Home Prices Begin to Decline from Record Highs in the U.S.
Inflation, high mortgage rates leading to fewer sales and softening home prices nationwide Based on a new report from national property broker Redfin, the median sale price for U.S. homes came down 0.7% from its record-breaking June 2022 peak during the four weeks ending July 10, 2022. Sellers’ asking prices also came down 3% from…
Read More
As mortgage rates rise, here’s how to decide whether you should buy a home or rent
It’s becoming harder to afford a home. Prices are up almost 20% year over year, and mortgage rates are soaring. The rate for a 30-year fixed loan is now 5.57%, according to Mortgage News Daily, up from 3.29% at the start of the year. At the same time, consumer prices on everything from gas to food are also accelerating, costing…
Read More
These are the 10 states with America’s most stable housing markets
The three most important things in real estate: location, location, location. And the U.S. housing market is in a weird place right now. Mortgage rates are nearly double what they were a year ago, reflecting the Federal Reserve’s campaign to rein in inflation. But they have also been volatile, including some sharp declines from week to week.…
Read More