Morning Roundup (1/17/2023) – Price Growth Cools

Good Morning! Today is Tuesday, January 17. China’s population declined for the first time since 1961. Armed insurgents kidnapped 50 women in Burkina Faso, a landlocked country in West Africa. A New Mexico Republican who ran for a State House seat was arrested for allegedly orchestrating shootings that caused damage to the homes of elected Democratic leaders.

The Mortgage Note Reports

Price Growth Cools Again: Annual single-family home price growth dipped from Q3 to Q4 2022 as demand and the number of homes for sale dwindled.

Sellers Feel The Pain: As housing cools, homeowners who choose to sell aren’t riding the same high as people who cashed in during the red-hot pandemic market. Writer Chuck Green has the story.

LenderClose Rebrand: Home equity fintech LenderClose is rebranding to Coviance.

Listen To Our Podcast: Editor Kimberley Haas has been interviewing some of the leaders in the country. This podcast highlights the successes and innovations taking place in the mortgage industry.

TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay on top of the changing landscape.

In other mortgage and housing news…

Farner’s Take: Rocket CEO Jay Farner says we’re now in an “even” market, not a buyer’s market, where sellers still have power but buyers can take their time.

Not Just Here: Harvard Professor Kenneth Rogoff told Bloomberg that global housing markets will face significant declines this year, possibly a further drop of 10%.

Miami Stays Hot: Goldman Sachs predicts that cities like Miami will continue to see price growth through 2023, while cities like Austin will see steep price declines.

What Would It Take?: Vast amounts of empty real estate are a crisis for building owners, but many hope unused offices can be turned into housing. The question is how.

Households Dwindle: The decline in home sales due to high rates in late 2022 and a sharp decline in apartment demand suggest a slowdown in household creation.

Faster And Cheaper: Can 3-D printing solve the housing crisis?