HUD and the Census Bureau have reported privately‐owned housing starts were up in November 2023, nearly 15% above October 2023’s totals.
Read More »Potential Home Sales Experience Largest Monthly Growth in a Year
Mortgage applications climbed in November, but will home sales accelerate throughout the end of the year? Mark Fleming, Chief Economist at First American, details the state of existing-home sales and more market predictions.
Read More »Examining Title Insurance, Settlement Services, and Life-of-Loan Costs
A new study found that, in the grand scheme of things, the cost of title insurance and related services make up such a minute amount of the cost of a life of a loan, they are statistically insignificant.
Read More »Eyes on the Horizon
As we approach a new year, MortgagePoint took the temperature of industry experts to see what lies ahead for a market that trudged through 2023 hampered by the convergence of rates reaching 20-year highs, a shortage of housing inventory, and inflated home values.
Read More »Dollar by Dollar, Home Equity Builds into Something Great
According to First American Economist Ksenia Potapov, homeownership—and the equity that comes with it—is one of the most effective ways to build wealth.
Read More »Pending Sales Dropped in all Regions YoY
Month-over-month, contract signings intensified in the Northeast but diminished in multiple other U.S. regions. First American Deputy Chief Economist Odeta Kushi commented, “While there remains quite a bit of demand for homes on the sidelines, you can't buy what's not for sale, even if you can afford it.”
Read More »U.S. Homeowners Remain Financially Disincentivized to Sell Their Homes
According to a new study from First American, some 90% of homeowners remain discouraged by the idea of selling their homes. Will that change if mortgage rates were to decline in 2024? Here’s what experts predict about the ongoing “sellers’ strike.”
Read More »Home Prices Hit New Peak as ‘Supplier’s Strike’ Continues
October sale prices indicated that the lack of housing supply is constraining market and frustrating homebuyers, according to First American's October Home Price Index report, with sellers continuing their "suppliers' strike" and further hampering already insufficient inventory levels.
Read More »Home Prices Increase Over 5% YoY
First American’s Data & Analytics division published a new report that shows home prices have found new highs for the sixth-straight month. Click here to see charts and year-over-year changes of the Home Price Index.
Read More »Housing Dynamics Closely Mirror Those of the Early 1980s
The current housing market is similar to the market of the 1980s. History doesn’t repeat itself, but it often rhymes, says First American Chief Economist Mark Fleming.
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