Posts Tagged ‘Real Estate’
U.S. Foreclosure Starts Reach Pre-Pandemic Levels in August
Based on ATTOM’s August 2022 U.S. Foreclosure Market Report, there were a total of 34,501 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 14 percent from a month ago and up 118 percent from a year ago. Foreclosure starts reach pre-pandemic levels nationwide Lenders started the foreclosure process…
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Orlando Area Home Sales Slide 17 Percent Annually in August
According to the Orlando Regional Realtor Association’s housing data, median home price fell for the second consecutive month as home sales slide 17 percent annually in August. ORRA reports that the median home price for August 2022 was recorded at $377,750, a slight decrease of 0.8% compared to July’s median home price, $380,900. This is…
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Mortgage Fraud Risk in U.S. Drops by 7.5 Percent Annually in Q2
According to CoreLogic’s latest Mortgage Fraud Report, there was a 7.5% year-over-year decrease in fraud risk at the end of the second quarter of 2022, as measured by the CoreLogic Mortgage Application Fraud Risk Index. The decline in mid-2022 follows a large increase seen in the same period in 2021 and is partially due to the…
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Global Housing Markets Index Defies Market Forces, Prices Still Rising
According to international property consultant Knight Frank, global housing markets defied the odds in Q2 of 2022. While many expected a notable slowdown in the second quarter of 2022, both in terms of the index’s overall performance, and in relation to the number of countries seeing house price declines in annual terms. Neither materialized. Knight…
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U.S. Multifamily Builders Take Caution in Second Quarter
According to the most recent Multifamily Market Survey, U.S. builder confidence in the market for new multifamily builders was mixed in the second quarter of 2022, The Multifamily Production Index (MPI) decreased six points to 42 compared to the previous quarter, dragged down largely by the for-sale condo sector. The Multifamily Occupancy Index (MOI) fell eight…
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Citi expands program to help diverse communities reach ‘transformational’ homeownership milestone. Here’s who qualifies
Citi is expanding a program to encourage homeownership in diverse communities, as part of a new set of initiatives to broaden access to its lending products. The program, called HomeRun, seeks to help eliminate the key barriers to homeownership, particularly with regard to cost and affordability. The program, which offers down payments as low as 3%…
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U.S. Homes Now Sell for Less Than Asking Price
According to national property broker Redfin, the average home sold for less than its list asking price for the first time in over 17 months during the four-week period ending August 28, as the housing market cooldown continued. Every month since March of 2021 has seen an average sale-to-list ratio of over 100%, meaning that…
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Home Builders Shift Toward Smaller U.S. Markets Continues
Based on the National Association of Home Builders latest Home Building Geography Index, there has been a shift in home building activity over the past 30 months, with notable slowing in large, metro urban areas as a result of initial Covid migration effects followed by declines in housing affordability in high-cost and highly regulated markets as…
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Demand for Second Vacation Homes in the U.S. Decline
According to CoreLogic’s principal economist Archana Pradhan, demand for second vacation homes in the U.S. surged after the onset of the COVID-19 pandemic, nearly doubling the pre-pandemic demand level in late 2020. Flexibility to work remotely, coupled with record-low interest rates, induced the hike in second home demand in 2020 and 2021.Though remote work remains…
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Bank of America launches zero down payment mortgages to help minorities buy their first homes — here’s who can apply
To help narrow a homeownership gap among Black and Hispanic-Latino communities, Bank of America is launching new zero down payment, zero closing cost mortgage products to help people in minority communities buy their first homes. The program — called the Community Affordable Loan Solution — will be available to certain markets including majority Black and/or…
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