The supply of homes for sale in the United States began to show signs of improvement in April 2022 according to new data from Realtor.com, which stated that the number of salable homes would increase in the next few weeks due to fewer buyers. April housing inventory was 12 percent lower than in the same…
Housing Supply Sees Slight Improvement in April as Higher Prices and Mortgage Rates Slow Sales
Record Low Number of People Looking to Buy Homes in 2022: Gallup
May 4, 2022
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Business & Economyeconomyhousing pricesinflationInvestmentreal estateu.s. real estateUSUS Real Estate
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According to a new poll from Gallup released May 4, less than a third of Americans believe it is a good time to buy a house due to high interest rates, supply chain problems, and climbing inflation. Gallup’s annual Economy and Personal Finance poll was conducted April 1–19, coinciding with the median sale price of U.S….
US Home Prices Rose at Fastest Annual Pace on Record in March
U.S. home prices for the first quarter of 2022 continued to skyrocket with a record 20.9 percent year-over-year increase in March 2022, according to CoreLogic’s latest Home Price Index and Forecast, which was released on May 3. This was the highest 12-month growth for the U.S. home index since the series began in 1976, while mortgage rates…
Supreme Court to Look at Whether One Spouse Can Be Held Liable for the Other’s Fraud in Bankruptcy
The Supreme Court agreed on May 2 to take a case about whether a bankrupt debtor can escape liability for a debt arising out of someone else’s fraudulent act. Kate Bartenwerfer, who filed for bankruptcy after an ill-fated real estate deal, appealed after the often-reversed U.S. Court of Appeals for the 9th Circuit ruled she…
New Single Family Home Sales Fall in March, Mortgage Rates Rise: Census Bureau and Housing Department
April 27, 2022
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Business & Economyeconomymortgage ratesnew home salesreal estatesupply chain disruptionUSUS NewsUS Real Estate
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Sales of new single-family houses dropped to the lowest level in four months in March 2022 amidst a rise in mortgage rates, according to the latest data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. “Sales of new single‐family houses in March 2022 were at a seasonally adjusted annual…
Rising Mortgage Rates Prompt Downward Revision to Home Price Forecasts
A sharp run-up in mortgage rates has prompted speculation about possible cooling in house prices in the red-hot U.S. market, with real estate research firm Zillow lowering its home price forecast for 2023 by 1.6 percentage points. Home prices have been on a tear amid broader inflationary pressures in the U.S. economy, with the most…
Fannie May Predicts US Economy to Experience ‘Modest’ Recession by 2023
April 20, 2022
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Business & Economyeconomic policieseconomyFannie Maeinflationreal estaterecessionUncategorizedUSUS Real Estate
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The Federal Reserve’s raising of interest rates will likely slow an economy already burdened by high inflation, a pandemic, and a crisis caused by the Russian invasion of Ukraine, according to an April 19 press release by Fannie Mae’s Economic and Strategic Research (ESR) Group. The aggressive new monetary policy by the central bank is already hindering…
Fannie Mae Predicts US Economy to Experience ‘Modest’ Recession by 2023
April 20, 2022
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Business & Economyeconomic policieseconomyFannie Maeinflationreal estaterecessionUncategorizedUSUS Real Estate
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The Federal Reserve’s raising of interest rates will likely slow an economy already burdened by high inflation, a pandemic, and a crisis caused by the Russian invasion of Ukraine, according to an April 19 press release by Fannie Mae’s Economic and Strategic Research (ESR) Group. The aggressive new monetary policy by the central bank is already hindering…
US Mortgage Applications Decline as Interest Rates Hit 12-Year High
April 20, 2022
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Business & Economyeconomic policieseconomyinflationmortgage applicationmortgage ratesreal estateu.s. real estateUS Real Estate
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Mortgage applications in the United States fell for the sixth straight week as mortgage rates rose to a 12-year high, causing home purchases and refinancing applications to fall, according to the latest survey by the Mortgage Bankers Association (MBA) on April 20. The Market Composite Index (MCI), a measure of mortgage loan application volume, showed a 5…
Existing Home Sales Dip as Mortgage Rates Spike, House Prices Hit Record High
Sales of previously-owned homes in the United States fell in March as mortgage rates climbed to a 12-year high, leading mortgage refinance demand to plunge by an annual 68 percent while house prices hit a new record. Total existing-home sales fell 2.7 percent over the month and 4.5 percent over the year in March, marking the…
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