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Home | Tag Archives: First American

Tag Archives: First American

Builder Confidence Shaky as Labor, Lot Shortages Continue

Home builders are plagued with labor and lot shortages, and it’s causing their confidence in the single-family market to waver, according to new data released this week. Overall, builder confidence in the single-family residential market has dropped by two points in June. Single-family production fell 3.9 percent for the month of May, while multifamily construction dropped 9.7 percent. Overall, housing starts declined 5.5 percent across the nation.

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Defects on the Rise, Highest in North Dakota

Loan application defects are on the rise across the country, particularly in North Dakota, Montana, and Vermont. According to an expert economist, it’s riskier lending practices—both on purchases and refinances—that are to blame. McAllen, Texas, and Knoxville, Tennessee, came in the with highest frequency of defaults in terms of metro markets.

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Affordability Dips Year-Over-Year

Real house prices have jumped significantly over the past year, rising more than 8 percent since January 2016. According to First American, these pricing jumps coupled with low inventory spell a seller’s market for spring. “Despite the monthly increase in affordability and continued strong wage growth, homes are less affordable across the country compared to a year ago,” said First American Chief Economist Mark Fleming.

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First American Executive Awarded as ‘Valuation Visionary’

The Valuation Visionary award recognizes a standout collateral valuation professional every year who has demonstrated outstanding leadership, innovation and professionalism. Winners are nominated by their peers within the Collateral Risk Network. The recipient will be awarded at the Valuation Expo East on March 20, 2017, in Orlando, Florida.

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Will the Housing Market Be Doomed if the Fed Raises Rates?

housing-forecast

According to the CME Group's FedWatch Tool, which measures the market's expectations of Fed target rates on a daily basis, there is a 74.7 percent chance of the Fed raising rates by 0.25 percent this week. On the other hand, the FedWatch data found that there is a 25.3 percent chance of the Fed raising rates by 0.50 percent.

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