New home construction continues to climb, as privately owned single-family housing starts in July were at a seasonally adjusted annual rate of 1.496 million, a 22.6% jump from June, according to a new report from the U.S. Census Bureau. Privately
[PULSE] Why a credit reporting moratorium during COVID-19 will harm consumers
Seeking to alleviate financial hardships on consumers, two bills; H.R. 6370 and S.3508, ‘‘Disaster Protection for Workers’ Credit Act of 2020’,’ have been introduced in Congress that amend the Fair Credit Reporting Act by placing a moratorium on reporting any
Here are 2020’s hottest housing markets according to ZIP code
Compared to last year, the housing market this year has seen some big changes. Notably, people are moving inland from the large cities as the pandemic has created a coastal exodus, prompting apartment dwellers to seek more space and big
Housing starts report confirms housing market recovery
The Census report on new construction showed a whopping 22.6% increase above the revised June estimate in housing starts in July. Year-over-year starts are up 23.4%. This means we can add housing starts to our growing collection of V-shaped recovery
Luxury Home Prices Bounce Back, Rising 1.2% in Early Summer
High-end home prices are showing strength during a recession as the coronavirus pandemic drives demand for extra bedrooms, home offices, big backyards and pools. The median sale price for luxury homes in the U.S. rose 1.2% year over year to
Homebuyer Interest in Rural Areas Rises, With Prices Up 11% in July
There’s more demand—and less supply—for rural and suburban neighborhoods than cities as the pandemic influences homebuyer preferences. Still, prices are up 6.7% in urban areas. The housing market is hottest in less densely populated areas, with July data showing more
Just 6% of Homes Held Open Houses During First Week on Market in July, Down From 16% a Year Earlier
Surging homebuyer demand has prompted some sellers to host open houses during the pandemic, but group showings remain much less common than normal due to coronavirus risk, Redfin agents say. Nationwide, 6% of homes that were put up for sale
Unseasonably Hot Late-Summer Housing Market: Prices Up 10%, Pending Sales Up 13%
Key takeaways for the 4-week period ending August 9: Home sale prices were up 10% year over year—the largest increase in over six years—to another new all-time high of over $314,000. Prices keep climbing month over month, bucking typical seasonality.
Home Buyer: How to buy the right home for your family, especially your kids
Your children are more precious to you than anything else, and that’s why they are an important part of your decisions related to purchasing a home. Here are a couple of simple tips to help you find the right home
Boston Real Estate Market & Investment Overview 2020
The government shutdown has chilled economic activity across the board. What is it doing to the Boston housing market? And what can we predict for the future of the Boston real estate market? We will discuss the latest trends & prices
Best Real Estate Websites For Buyers And Sellers In 2020
We’re not going to tell you where to go to find a real estate investment loan or good building contractor; you can find recommendations in those areas almost anywhere. Instead, we’re going to focus on the best real estate websites
San Francisco Bay Area Real Estate Market 2020 Overview
Let’s get an overview of the San Francisco real estate market. This article has been updated to reflect recent changes in the housing market of San Francisco due to the coronavirus pandemic. San Francisco consistently ranks among the most expensive real
Housing industry turns against Fannie, Freddie’s added refinance fee
After Fannie Mae and Freddie Mac announced an added 50 basis point fee to all refinances, the housing industry was quick to react. Today, the National Association of Mortgage Brokers announced growing support behind its campaign to reverse the newly
Fannie, Freddie fee hike may become an election issue
Fannie Mae and Freddie Mac, the two largest mortgage financiers in the world, on Wednesday night announced they would impose a 0.5% fee on every refinanced mortgage starting Sept. 1. Look for it to become an issue in the campaign.
Are you overpromising real estate closing times?
For the past two weeks, HousingWire took a deep dive into the effects an accelerated market can have on appraisal turn times and the delta between appraisal ratings and market forecasts. This week, industry experts discuss how to navigate client
People movers: Notarize, RE/MAX and Planet Home Lending
Notarize has brought on Wendy Ivanoski as its vice president of Enterprise Strategy and Nicole Booth as executive vice president of Public Affairs. Ivanoski has 17 years of experience in the financial services industry, including time at State Street Corporation
Short-term rentals are outperforming hotels, here’s how one company is helping property owners
After COVID-19 paused travel, short-term rentals actually fared much better than hotels year-over-year, a new study said. As of June 21, short-term rental revenue per available room was down just 4.5%, while hotel revenue per available room was down a
More people are fleeing San Francisco and NYC for the suburbs
The mix of working from home and renters seeking more space – albeit cheaper space – is pushing more people out of more expensive U.S. cities and moving into the suburbs. Particularly, Millennials are fleeing New York City for more
Home Prices Up 8% as Supply Fell 22% to a New All-Time Low in July
New listings surpassed 2019 levels for the first time since the pandemic began, up 3%, but failed to keep up with the rate of sales, up 5% year over year. The national median home price rose 8.2% year over year
NewRez looking to hire 750 positions in origination division
Mortgage lender NewRez is currently hiring for over 750 positions in its origination division. The company is seeking to fill positions in all four of its business channels – direct to consumer, JV/retail, wholesale and correspondent lending. Current openings include
[PULSE] Key issues affect smaller mortgage lenders in GSE reform
The Community Home Lenders Association (CHLA) recently used the opportunity to submit a comment letter on proposed GSE capital levels to instead focus mostly on pending unresolved issues that are critically important to small mortgage lenders. CHLA did this not
Here’s how Quicken Loans and the Rock FOC create impactful change
Team member volunteer event collaborating with muralist Philip Simpson Quicken Loans and the Rock Family of Companies are built on 19 carefully thought out philosophies, or as they call them, ISMs, that compile all of their values into active ways they
A faster way to pay in a pandemic? The Federal Reserve details research on digital currencies
In a release on Thursday, the Federal Reserve detailed some of the research it’s doing on the benefits and risks associated with central bank digital currencies. Current research is being conducted within the Federal Reserve Board’s “TechLab” on innovations in
Are cities really seeing an exodus? Zillow says urban areas have more in common with suburbs than you think
While we know people are migrating out of urban areas to seek more room in the suburbs, these two different kinds of housing markets are showing similar trends since COVID-19 shut down much of the country. The exceptions are the