Record Price Gains for Single-Family Homes Persist in May
This year’s spring market was one for the history books as price spikes for single-family homes persisted in May. According to the most recent S&P CoreLogic/Case-Shiller Indices, home prices saw a 16.6% gain in May, up from 14.8% in April. The price surge marked the second consecutive month of record-setting performance, according to experts. All […]
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Rental Vacancies Rise While Homeowner Rates Remain Flat
National vacancy rates in the second quarter 2021 were 6.2% for rental housing and 0.9% for homeowner housing, according to the latest data from the Commerce Department. The rental vacancy rate increased 0.5 percentage points YoY (by 5.7%) and is 0.6 percentage points lower than the rate in the first quarter 2021 (6.8%). The homeowner […]
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FHFA: Home Prices Up, Hitting Record Growth
Home prices are up nationwide in May, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). Prices increased by 1.7% since last month and were up 18.0% from May 2020 to May 2021. The previously reported 1.8% price change for April 2021 was unrevised. For the nine census divisions, seasonally adjusted monthly house price changes from April […]
Slight Dip for Mortgage Forbearance Is ‘Typical,’ Says MBA
Mortgage forbearance rates decreased by 2 basis points from 3.50% of servicers’ portfolio volume in the prior week to 3.48%, as of July 18, 2021, according to the Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey. MBA estimates there are currently 1.74 million homeowners in forbearance plans. Key findings: – Total loans in […]
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Regional Spotlight: Northern Virginia Market Sees June Softening
Nationwide, existing homes available for purchase were down nearly 19% from last June; but in Northern Virginia, inventory was up nearly 31%, according to the Northern Virginia Association of REALTORS® (NVAR). However, weekly showings in Northern Virginia toward the end of June revealed a noticeable dip in activity. The details: – In June, Northern Virginia had its […]
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Inman Acquired: Real Estate News Now Backed by PE Money
Beringer Capital, a Toronto-based private equity firm that specializes in media, technology and marketing services, has acquired Inman Group. Beringer states it will “contribute input” for the news organization’s day-to-day strategy, as well as investment capital. A Beringer press release states the firm will be investing “significantly” in additional growth opportunities across Inman’s operations. Chief […]
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No Market Cooldown, Says MoxiWorks
June experienced a record-breaking 636K homes sold across the U.S., marking a 24% YoY increase. MoxiWorks recently released their Home Sales Predictor, forecasting that this trend won’t end any time soon, going against other industry predictions that we are entering a longer cool down period. MoxiWorks predicts… – July will experience a brief slowdown (aligning […]
Regional Spotlight: Texas Home Sales Reach Record High
Texas home sales reached a new high of 114,772 homes sold in the second quarter of 2021, an increase of 24.7% from the second quarter a year ago, according to the 2021-Q2 “Texas Quarterly Housing Report” released today by Texas REALTORS®. “Texas is in the middle of a record-breaking summer selling season with unprecedented demand for housing,” said Marvin […]
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Existing-Home Sales: U.S. Foreign Investment Hits Decade’s Lowest Level
Foreign buyers purchased $54.4 billion worth of U.S. existing homes from April 2020 through March 2021, according to a new report from the National Association of REALTORS® (NAR). This is a 27% decrease YoY—the fourth consecutive annual decline. The data is based on NAR’s 2021 Profile of International Transactions in U.S. Residential Real Estate, which […]
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June Showings Slowed as Market Normalizes
June marked a monthly slowdown period for showings, according to the latest data from ShowingTime, a showing service recently acquired by Zillow. However, in the first few days a listing was put on the market, the service experienced a flurry of activity. According to the ShowingTime Showing Index®, 64 markets still averaged double-digit showings per […]