Affordability

According to a new market report from Zillow, high interest rates caused new listings to hit a record low in February, frustrating willing homebuyers nationwide.

The American Enterprise Institute and Center for Responsible Lending are jointly warning borrowers that cash-out refinances may worsen their financial stability for years to come by shouldering monthly payments that are significantly higher.

According to a new report from Redfin, home prices declined in February as home sellers responded to a decline in homebuyer demand spurred by elevated mortgage rates.

Rental returns experienced a significant increase from 2022 in roughly 90% of counties analyzed in ATTOM's latest Q1 2023 Single-Family Rental Market report, reversing years of decline and narrowing down the best counties for single-family rentals in 2023.

According to the latest Mortgage Bankers Association Builder Application Survey data for February 2023, mortgage applications for new home purchases increased just 1.2% compared to the same time a year ago.

“Buyers today are way more demanding and selective. They’re willing to wait to find the perfect house, which wasn’t the case during the pandemic homebuying boom,” said Elena Fleck, a Redfin real estate agent in Palm Beach, Florida.

The MBA reports that purchase applications increased for the second straight week but remained nearly 40% below last year’s pace, amid news of continued economic instability and several bank closures.

Since 2019, the number of single, female-headed households has increased by 1.4 million, one million of whom are homeowners, according to a new report from First American.

According to a new study from Realtor.com, homeowners who list the week of April 16-22 will experience the best combination of market conditions and could receive $48,000 more for their home than at the start of the year.

“Mortgage credit availability decreased to its lowest level since January 2013 with all loan types seeing declines in availability over the month,” said Joel Kan, MBA’s VP and Deputy Chief Economist.