Daily Dose

Next week's Five Star webinar, presented by Selene Title, will discuss the topic of title and its critical role over the life of the loan. Why is title so important in the arena of SFR, build-for-rent, and bulk transactions? Click through to read more and register for the event.

While Fannie Mae experts predict prices to moderate in 2023, they note that housing supply issues will persist as inventory remains scarce, with effects felt mostly by low- and moderate-income families. Here are the latest findings.

“It is crucial to utilize professional-grade AVMs that can help identify potential racial bias in home valuations and to flag concerns of potential undervaluation of minority-owned properties,” said Eric Fox, Chief Economist at Veros.

”The rapid increase in prices during the COVID-19 pandemic caused many U.S. housing markets to reach completely unaffordable levels for potential local homebuyers,” said Selma Hepp CoreLogic’s Interim Lead, Deputy Chief Economist.

Wells Fargo’s current Head of Home Lending will transition to role of integrating diversity, equity, and inclusion into every aspect of the company’s business.

“With a recession looming and household expenses high, many people can’t afford to buy a home in an expensive area and/or want to save money in case of an emergency, which makes relocating somewhere more affordable an attractive option,” said Redfin Economics Research Lead Chen Zhao.

“Surveyed lenders cited personnel expenses as the primary factors driving up loan origination costs over the past two years,” said Doug Duncan, Fannie Mae’s SVP and Chief Economist.

Although homes are staying on the market longer compared to last year, numbers are still moving faster than pre-pandemic norms. Meanwhile, homebuyers nationwide are pulling back or halting their home searches due to affordability constraints.

A new study from LendingTree found that mobile homes are much less expensive than single-family homes, offering homebuyers a cheaper alternative in purchasing. However, data revealed that mobile homes appreciated in value almost as quickly as single-family homes nationwide from 2016 to 2021.

The latest analysis from the National Association of Realtors revealed pending home sales slipped in September, down 10.2% from August, decreasing in all regions compared to 2021.