Real Estate

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.

Fannie Mae and Freddie Mac both offer special mortgages for green homes; federal and state programs also promote weatherization initiatives through grants for certain projects.

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.

The Harvard Joint Center for Housing Studies will present a virtual session analyzing the burdens of home improvement, as well as the preservation of affordable housing in today’s home remodeling market.

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.

In a week of turmoil in the economic markets as the FDIC was named receiver of two banks, Freddie Mac reported the fixed-rate mortgage retreated 13 basis points, ending a five-week run of increases.

“Single-family housing permits, a leading indicator of future starts, also increased 7.6% compared with the previous month. The uptick in single-family housing permits and starts aligns with the recent increase in homebuilder sentiment,” said First American Deputy Chief Economist Odeta Kushi.

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.