By CHUCK GREEN
To home sellers who agonizingly watched the prices of their abodes recede recently, leaving a nasty gash in profits, there’s little to say but “ouch.”
Want a touch of solace? Apparently, the waters are rippling with plenty of others in the same predicament.
A first quarter 2023 U.S. Home Sales Report released by ATTOM showed that on median-priced single-family home and condo sales across the country, profit margins dipped to 44.2%, sagging from 48.7% in the fourth quarter of last year.
A silver lining is that the typical investment return stayed relatively high. In fact, it was nearly double where it was four years ago. From the peak of 56.1% in the second quarter last year, the…
By KIMBERLEY HAAS The CEO of loanDepot says they will continue to focus on their long-term strategy to become the most trusted homeowner fulfillment company in the world after the company released their results for 2021, which show a decline in net income but an increase in market share. Anthony Hsieh, Founder and CEO of the California-based company, said they have the tools to pivot and adjust to market trends and their business was purpose-built with periods of pressure in mind. “The results of 2021 are only a preview of what’s to come as we leverage our brand, develop and apply innovative technology solutions, drive down costs and add more products and services to help our customers successfully navigate one…
Lenders don’t feel optimistic about their future profit margins, with 65% reporting they believe their profit margins will shrink in the next three months, according to Fannie Mae’s Mortgage Lender Sentiment Survey. The share of lenders who feel pessimistic about future profits rose by 19% from Q3, citing competition from other lenders and changing market trends. If they prove right, next quarter will mark the fifth consecutive quarter of profit declines. “This quarter’s MLSS results suggest that the housing market may be poised to return to a more ‘normal’ state in the new year, following the boom experienced over the past two years due to historically low mortgage rates and pandemic-related changes in homebuyer behavior,” said Fannie Mae Senior Vice…
