In April, Fannie Mae's Home Purchase Sentiment Index found a widening gap between the number of respondents who say it's a good time to sell a home and those who say it's a good time to buy one. The index – which is based on a survey that asks Americans for their opinions on the housing market and economy – shows the share of participants who say it's a good time to buy fell from 53 percent to 47 percent month-over-month. Conversely, the share who said it's a good time to sell rose from 61 percent to 67 percent. … [Read more...]

While the housing market outperformed expectations last year, it wasn't untouched by the economic impact of the pandemic. There were scores of American homeowners who were suddenly without work or a way to cover their mortgage payment. Which is why the most recent Mortgage Monitor from Black Knight Financial is an encouraging sign. The report – which looks at loan-level residential mortgage data – found that, in April, the number of Americans paying their mortgage on time rose to the highest level since the … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates were mostly flat last week, with slight increases for loans backed by the Federal Housing Administration and 30-year fixed-rate loans with both conforming and jumbo balances. But despite flat rates, demand for loans to buy homes was down for the second week in a row. Joel Kan, MBA's associate vice president of economic and industry forecasting, says home buying demand is being held back by low inventory and higher … [Read more...]

Everybody with a home to sell wants to get as much as they can for it. But beyond sprucing it up and making sure it looks its best, what else can you do to be certain you get a good offer? Well, according to a new analysis from ATTOM Data Solutions, you can also choose the right day to sell. ATTOM looked at 40.1 million home sales between 2011 and 2020 to determine which days of the year brought sellers the biggest premiums. The results show the month of May gives homeowners their best shot to sell their home above … [Read more...]

New home sales peaked at the height of the housing boom in 2005. But following those all-time highs, sales plummeted and the subsequent recovery took more than a decade. In fact, annual sales still haven't reached the highs of 15 years ago – though they've largely made up the lost ground. In one way, however, new home sales are doing better than ever. According to an analysis of recent sales, 25.7 percent of homes sold during the first quarter of 2021 were newly constructed homes. That's up from 20.4 percent last … [Read more...]

The S&P Case-Shiller Home Price Indices are considered a leading measure of U.S. home prices. According to their most recent release, home values continue to show strength. In fact, the index found prices were up over the month before in all 20 included cities and are now rising faster than at any point since 2006. Craig J. Lazzara, managing director and global head of index investment strategy at S&P, says recent increases are among the highest they've recorded in more than 30 years of collecting price … [Read more...]

The number of contracts to buy homes rebounded in March, according to new numbers from the National Association of Realtors. Their Pending Home Sales Index – which measures signings, not closings – saw a 1.9 percent increase from the month before. It was the first improvement following two consecutive months of declines. Lawrence Yun, NAR's chief economist, says demand from buyers is high and will likely remain high. “The increase in pending sales transactions for the month of March is indicative of high housing … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates fell again last week. Rates were down 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 drop marks the third consecutive week rates have fallen. Joel Kan, MBA's associate vice president of economic and industry forecasting, says declining rates didn't keep demand for mortgage … [Read more...]

Many home buyers used the coronavirus as an excuse to get away from it all. After the pandemic's initial onset, interest in small towns and rural areas spiked, as more Americans looked to move somewhere where they could have more space for the same money. The increased interest in suburbs and exurbs pushed price growth in those areas and soon their prices were outpacing urban neighborhoods. But while the trend continued through the end of 2020, the beginning of this year brought a change. Home buyers were, once … [Read more...]

Today's market is a seller's market. But despite the best conditions in years, fewer homeowners are listing their homes for sale. That's led to a lower-than-normal number of existing homes available on the market. It's also led to surging new home sales. In fact, according to new numbers from the U.S. Census Bureau and the Department of Housing and Urban Development, March saw a 20.7 percent increase over the previous month. That far exceeded economists' expectations and pushed sales almost 67 percent higher than … [Read more...]