Labor shortages and supply-chain disruptions have been an issue for home builders ever since the pandemic's onset last year. But, despite those challenges, the National Association of Home Builders' Housing Market Index has remained strong. The index - which surveys builders and scores their responses on a scale where any number above 50 means more builders view conditions as good than poor – has remained high mostly because demand from buyers has kept builders optimistic about the market. That trend continued in … [Read more...]

Predictions aren't easy, but Fannie Mae's Economic and Strategic Research Group makes them on a monthly basis. The group's forecasts cover what they see ahead for the housing market and general economy. And, according to their October outlook, they expect inflation and consumer spending concerns to cause monetary policy to tighten in the months ahead. But what does that mean to the average home buyer or seller? Well, Fannie Mae says they should expect mortgage rates to rise slightly but remain low throughout 2022. … [Read more...]

First-time home buyers used to make up a larger share of the homes sold in any given year. Typically, they'd account for around 40 percent of annual home sales. But younger home buyers, for a multitude of reasons, have been less active in the housing market in recent years. According to one new analysis, for example, the share of buyers between the ages of 18 and 39 fell 13 percent between 2009 and 2019. That wasn't the only demographic shift during those years, though. In fact, while the share of younger buyers … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates increased last week across all loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. But while rates moved to their highest level in months, mortgage application demand was relatively unaffected, increasing 0.2 percent week over week. Joel Kan, MBA's vice president of economic and industry … [Read more...]

Owning a home is a dream for a lot of Americans. But no one wants to own a home they struggle to afford. That's why there's so much focus on housing affordability right now. Put simply, there's a shortage of homes for sale and it's made finding an affordable home more challenging for today's buyer. New numbers from the National Association of Realtors offer some encouragement, though – especially for Americans who want to buy but worry homeownership may now be out of their financial reach. The numbers, from the … [Read more...]

Market conditions have been difficult for home buyers this year. Rising prices and competition for available listings have made things challenging. But despite those challenges, buyer demand has remained strong, even through the hot spring and summer markets. And now, heading into the fall and winter, it still shows few signs of slowing down. For example, one recent survey found a majority of participants were optimistic about the housing market and agreed that the next three months would be a good time to buy a … [Read more...]

These days, it isn't easy to find a deal. In most markets, there are more home buyers than there are available homes for sale. That puts upward pressure on prices, causes bidding wars, and means fewer bargains for buyers. So what can a budget-minded home shopper do? Well, new numbers from ATTOM Data Solutions offer a clue. Their analysis looked at every calendar day over the past eight years with at least 10,000 home sales and calculated the premium or discount buyers paid on that day. The results help zero in on … [Read more...]

Each month, Fannie Mae conducts a survey to gauge how Americans feel about the housing market. The survey asks participants whether they think now is a good time to buy or sell a home, whether they think home prices and mortgage rates will rise or fall, and whether or not they feel secure in their job and finances. In September, the Home Purchase Sentiment Index remained fairly steady. Americans continue to be optimistic about selling a home in today's market, with 74 percent of respondents saying now is a good … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates moved up last week from the week before. Rates were up across all loan categories including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. The increases pushed rates to their highest level since July and led to an almost 10 percent drop in refinance activity. Purchase applications also fell, sliding 2 percent week over … [Read more...]

If you want to know how likely a listing is to end up in a bidding war, try to find out how many buyers have scheduled showings to see it. A lot of showings means a lot of interested buyers. It also means the home is likely to get multiple offers and an amount over the seller's asking price. The same concept applies when looking at the overall housing market. After all, showings, for obvious reasons, are a good gauge of buyer interest. So you can get a good feel for where the market might be headed by looking at … [Read more...]