Pending home sales ticked up in August, reversing a downturn. NAR’s Pending Home Sales Index increased by 0.6% month-over-month to a reading of 70.6, recovering somewhat after falling to its lowest level on record in July. An index of 100 is equal to the level of contract activity in 2001, when NAR began tracking this…
Residential mortgage loans spiked in the second quarter of 2024, returning to early 2023 levels and setting the stage for further improvement. New data from ATTOM shows that 1.62 million mortgages secured by residential property (1 to 4 units) were issued in the United States during Q2, representing a 23.2% jump from the first quarter….
By ERIN FLYNN JAY As fall approaches real estate professionals are taking a pragmatic approach as they wait for buyers and sellers to gain more confidence. Gary Mintz, a realtor with Berkshire Hathaway HomeServices Fox & Roach in Philadelphia, said business was at best okay for the first half of 2024. “I am ‘hopeful’ that I…
Nearly half of mortgaged homeowners are equity-rich again as home prices soared in the second quarter of 2024. New data from ATTOM found that 49.2% of mortgaged residential properties were considered equity-rich in Q2, up from 45.8% in Q1. This matches a record high from the spring of 2023 and is the first increase after…
By ERIN FLYNN JAY As home flipping rates went up at the start of this year, profits kept improving for investors who buy and quickly resell homes. Last month, ATTOM released its first-quarter 2024 U.S. Home Flipping Report, which showed that 67,817 single-family homes and condominiums in the United States were flipped in the first…
Home flippers raked in profits in Q1 2024 but face headwinds moving forward as buyer demand cools. ATTOM’s U.S. Home Flipping Report found that 67,817 single-family homes and condominiums were flipped in the first quarter, accounting for one of every 12 home sales (8.7%) across the country. This was up from 7.7% of all home…
April brought continued delinquency improvements, with serious delinquencies down to one of their best levels in nearly 20 years. That’s according to new data from ICE, which showed that the national delinquency rate fell to 3.09% in April, the second-lowest level ever recorded. This is only bested by March 2023’s low of 2.92%, and a…
By ERIN FLYNN JAY Rising property taxes and insurance costs are putting pressure on homeowners across the country. Last week, Newsweek reported that polling conducted for them by Redfield & Wilton Strategies found that property taxes and/or insurance costs have risen for most homeowners within the past year. The poll found that 65% of Americans…
Foreclosures increased nationwide in Q1 2024 as mounting affordability pressures push homeowners into situations where they are unable to pay their mortgages. According to ATTOM’s latest Foreclosure Market Report, a total of 95,349 U.S. properties had foreclosure filings during the first quarter. This is up 3% from Q4 2023, but down under 1% YOY. “Q1…
By ERIN FLYNN JAY Home flipping activity is down across the nation as people who work in the industry see reduced returns on investments due to high interest rates and inflation. Last month, ATTOM released its 2023 U.S. Home Flipping Report, which showed that 308,922 single-family homes and condos in the United States were flipped…
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