Morning Roundup (5/18/2023) — Existing Home Sales Down

Good Morning! Today is Thursday, May 18. TikTok has been banned in the state of Montana which will likely prompt a First Amendment legal battle. Lawmakers in Texas banned transgender medical care for minors. Floods in Italy killed at least eight people and left thousands of people homeless.

The Mortgage Note Reports

Existing-Home Sales: Existing-home sales dipped in April, continuing a downward trend, as high rates and low inventory continue to strangle the market.

Nahil At FormFree: Jonathan Nahil has joined mortgage fintech FormFree as CTO.

Spring Podcast: TMN’s team has been tracking national trends and the ways companies are attracting buyers and sellers to the market. Check out our spring podcast.


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…

Prisoner’s Dilemma: These are the two dynamics keeping homeowners locked in their current houses, FirstAm says.

Tough Opportunities: Price trends in low-income Opportunity Zones targeted by Congress for economic redevelopment were mixed in Q1, in line with nationwide trends.

Rent Trends: The U.S. rental market experienced single-digit growth for the ninth month in a row, slowing to its lowest rate since the pandemic began.

Generation Cage Match: Millennials entering their prime homebuying years and Baby Boomers nearing retirement age are vying for the same homes.

Priced Into Loneliness: Neighborhoods with green and shared space, facilitating strong communities, are too expensive for many homebuyers to afford.