Market Trends

According to RentCafe's June Rental Activity Report, the top four most popular cities for renters are located in the Midwest, while Kansas City, Missouri, was named the most sought-after city by renters nationwide.

Amid larger macroeconomic uncertainties, the total homeownership rate can be attributed to the strong growth in the below-median income homeownership rate, which has sharply increased since 2016.

For the first time in nearly 11 months, solid demand, a lack of existing inventory, and an improvement in supply chain efficiency have all contributed to an uptick in home builder confidence nationwide.

Nominations have opened for the 2023 Women in Housing Leadership Awards, set to be presented this September at the 20th Annual Five Star Conference and Expo at the Hyatt Regency in Dallas, Texas.

"Lack of inventory remains the biggest challenge for homebuyers," said Nick Bailey, RE/MAX President and CEO. "With the vast majority of homeowners having a mortgage rate under 5%, we're not seeing as much move-up activity as usual."

The U.S. Department of Housing and Urban Development announced the pending publication of the Final Inspection Standards Notice, which will align and consolidate inspection requirements in assisted and insured housing.

FICO will host its “Score a Better Future” educational webinar to provide consumers with the knowledge and tools to gain better insight into their financial health along the road to homeownership.

The newly established position is part of Guild Mortgage’s initiative to foster a more inclusive workplace environment and empower diversity in its workforce.

Pending home sales are down nearly 20%, representing the biggest decline in over four months, but people are still showing interest in homebuying despite the total number of U.S. homes for sale declining 6% from last June.

Freddie Mac reports that anticipated Federal Reserve rate hikes forced the 30-year fixed-rate mortgage downward yet again, leading to a slight rise in overall application activity.