The internet has made it easier for potential home buyers to get a feel for what homes are on the market and in their price range. But while looking at listings online is a helpful resource, nothing beats seeing a house in person. Scheduling a showing is typically the next step for buyers interested in a house for sale. It allows them to get a closer look at the home’s condition, its layout, and it’s potential. Showings are a great way for buyers to determine whether or not they want to make an offer on a house. … [Read more...]

Americans’ view of the housing market has plateaued, according to the latest results of Fannie Mae’s Home Purchase Sentiment Index. The monthly index is based on a survey that asks participants for their feelings about buying and selling a home, their financial situation and job, and where they think prices and mortgage rates are headed. In August, the index was unchanged from one month earlier. Doug Duncan, Fannie Mae’s senior vice president and chief economist, says market sentiment is divided between buyers and … [Read more...]

ATTOM Data Solutions’ recently released second-quarter 2023 U.S. Residential Property Mortgage Origination Report shows the total number of residential mortgages secured during the second quarter increased 21 percent from the first quarter. The quarter-over-quarter increase – which includes purchase, refinance, and home-equity lending – was the first in two years. The improvement was led by purchase loans, which made up about half of all mortgages issued, with refinance packages making up a third and home-equity … [Read more...]

Options are important for home buyers. If you’re looking for a house to buy, having many homes to choose from is ideal for a couple of reasons. First, it raises the odds you’ll find one that fits your needs and checks the boxes on your wishlist. Secondly, a better balanced market, where the number of buyers and available homes are closely matched, means stable prices and less competition. In other words, an increasing number of homes for sale is good for home buyers – especially in a market low on homes. That’s the … [Read more...]

February definitely isn't spring, but it is the month when the spring housing market begins to ramp up. So what does February's data tell us about what to expect this spring season? Well, according to one newly released report, the early numbers show home sellers are off to a slow start and it could lead to a competitive spring. The number of homes for sale – though up 17 percent from its bottom last winter – is still well below pre-pandemic norms. Also, new listings are 22 percent lower than last year at the same … [Read more...]

Sales of previously owned homes surged 14.5 percent in February, according to newly released numbers from the National Association of Realtors. It was the first improvement in 12 months and the largest month-over-month gain since July 2020. Lawrence Yun, NAR's chief economist, says buyers capitalized where affordability conditions improved. “Conscious of changing mortgage rates, home buyers are taking advantage of any rate declines,” Yun said. “Moreover, we're seeing stronger sales gains in areas where home prices … [Read more...]

It isn't always easy to gauge where the housing market is headed – especially in times of transition. So it's not surprising that some potential home buyers are feeling uncertain after last year's market volatility. Fortunately, though, if you're wondering where things will head from here, there are places to look for hints. One good gauge is home builders. If home builders are building homes, it's because they believe they can sell them. Which means, it's an encouraging sign when builders are active and optimistic … [Read more...]

Getting ready to sell a home can be a lot of work. Depending on the condition of the house, there may be a need for some repairs, touchups, and upgrades before it hits the market. Which is to say, selling a house requires a plan. It's not something you do on a whim. However, for those of you who have been planning to sell your house this spring and are wondering when exactly you should list it, a new report from the National Association of Realtors' consumer website has your answer. According to their analysis, the … [Read more...]

When there are too few homes for sale, the new home market can help fill the gap and give buyers more options. That's certainly the case today, as the available inventory of existing homes for sale remains low. Which means, buyers who haven't had success finding a previously owned home may consider buying new. And, according to the latest Housing Market Index from the National Association of Home Builders, that has home builders feeling more optimistic. “Even as builders continue to deal with stubbornly high … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates fell last week from the week before. Rates were down for 30-year fixed-rate loans with both conforming and jumbo balances, 15-year fixed-rate loans, and 5/1 ARMs. Interest rates for loans backed by the Federal Housing Administration saw a small increase. Joel Kan, MBA's vice president and deputy chief economist, says demand for loans to buy homes rose as a result. “Home-purchase applications increased for the second … [Read more...]