Home sellers are trying to seal the deal with buyers through concessions rather than lower sale prices. Just under half (44.4%) of home sales in Q1 2025 included concessions given to buyers by sellers, according to a new analysis from Redfin. That’s an increase from 39.3% at the same time a year earlier, but still…
After a surprise bump in December, new home sales took a turn last month thanks to persistent unaffordability and winter weather. New home sales slipped 10.5% on the month to a seasonally adjusted annual rate of 657,000, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development. Sales fell…
Mortgage activity declined significantly in 2023, with refinances hit especially hard, while IMBs took market share from banks and CUs. Data from the Home Mortgage Disclosure Act, collected by the Consumer Financial Protection Bureau, found that both applications and originations fell by about a third in 2023. Since 1975, the HDMA has required financial institutions…
Realtor.com unveiled new map layers to help homebuyers visualize neighborhood dynamics while shopping. The map-based search features let users ask typical questions like, “Where can I find the newest homes in the neighborhood?” and explore multiple ZIP codes at a glance. Real-time visualizations of property data and neighborhood insights illustrate the search with color shading….
With home prices soaring out of reach and rates hot, Americans are doing whatever they can to lower their monthly payments, according to a series of new reports from Redfin. The typical monthly housing payment hit a record high of $2,721 in the four weeks ending March 24, up 10% YOY. A combination of prices…
Many Americans still can’t afford to buy a home as prices remain elevated and rates cool slowly, but sellers are already experiencing the unavoidable next step of price declines: falling profits. Profits on home sales fell last year for the first time since 2011 despite price gains, according to new data from ATTOM. Home sellers…
Pending home sales were up in July, marking a second month of increases, but there is still lots of room for improvement. NAR’s Pending Home Sales Index rose by 0.9% to a reading of 77.6 in July. An index of 100 is equal to the level of contract activity in 2001. “The small gain in…
Builder confidence has dipped, breaking a seven-month streak of increases, as high rates and shelter inflation put a dent in new home demand. The National Association of Home Builders and Wells Fargo Housing Market Index, which tracks confidence in the new single-family home market, decreased by 6 points to a reading of 50. NAHB said…
Homeowners are in for more financial stress in 2023 as insurance rates are set to rise. Experts at Insurify, a virtual insurance company, predict that home insurance rates will rise 9% in 2023, from $1,636 to $1,784. That’s on top of last year’s 7% jump. Repairs are more expensive thanks to increased material costs. Just…
Borrowers once again affirmed that quality of experience matters more to them in the lending process than cost. In a new survey from Reggora, an appraisal management software company, most borrowers said they care most about speed and quality in an appraisal. These were followed by communication and professionalism. The cost of the appraisal was…
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