Tag Archives: Taylor Marr

A reluctance to sell means that increase has not yet translated to home sales, experts from Redfin report.

“Prices falling from a year ago is a milestone because it hasn’t happened since the housing market was recovering from the 2008 subprime mortgage crisis. But it’s not surprising and in many ways, it’s welcome,” said Redfin Deputy Chief Economist Taylor Marr.

In a letter to President Joe Biden, Sen. Sherrod Brown, Chair of the Senate Banking Committee, has requested that the Administration utilize a “whole-of-government” approach to address housing affordability nationwide.

In April, the Five Star Institute will present its annual Government Forum, an event bringing together mortgage servicers and government officials under one roof to share their perspectives on the industry.

Just 21% of homes qualified as affordable to the average American as low inventory and rising interest rates are keeping people put.

“A lot of sellers who don’t get the price they had hoped for are taking their homes off the market. Many of them have a rock-bottom mortgage rate and figure they can wait to sell,” said Shay Stein, a Redfin real estate agent in the Las Vegas area.

The MBA reports a continued rise in borrower demand, as mortgage application volume rose for the third consecutive week, led by gains in both purchase and refi activity.

For the second consecutive week, mortgage rates have dipped, providing a much-needed boost to the housing marketplace and sparking a rise in overall mortgage app volume.

As the fixed-rate mortgage fell to a near-five-month low, prospective buyers and those seeking refis brought life into the marketplace, boosting mortgage apps 27.9% over last week’s totals.

New Redfin data reveals that Google searches for “homes for sale” were up nearly 50% from their November low during the week ending January 7. Here’s what else the data reveals about the state of the housing market.