Wage disparities make homeownership elusive for many millennials
Average incomes for this age group increased by 24% since 2012, but housing prices jumped 86%.
Housing markets
New Jersey, Illinois dominate markets most vulnerable to foreclosure
Counties in the West faced the least risk from pandemic distress in the third quarter, according to Attom Data Solutions.
Housing starts fell last month, led by multifamily slowdown
While September's single-family starts were unchanged from the prior month, multifamily activity fell 5%, according to government data.
Forbearance rate improves at fastest pace since pandemic began
The drop over the 30-day period was in line with a large number of plan expiration dates, and occurred despite the extension of an initial filing deadline for government loans.
Foreclosure starts surged in September
Following the federal moratorium’s end, the number jumped, marking the highest quarterly growth on record, according to Attom Data Solutions.
Redwood Trust, Point issue first home equity investment securitization
The $146 million deal could indicate that volume in the asset class has gotten large enough to support programmatic activity in the pricey housing market.
Pessimism about the housing market grew in September
The share of borrowers who thought it was a good time to buy hit an all-time low, according to Fannie Mae.
Housing inventory reaches 2021 peak in September
More for-sale homes hit the market than at any point this year but a turning point may lie ahead, according to Realtor.com.
Half of individual investors pessimistic about housing market: survey
The home price increases and the ongoing inventory shortage made buying conditions difficult and many think it’s only getting more challenging, according to RealtyTrac.
Delinquency rate drops to 4% for first time since pandemic began
The decline from 4.4% in July and 6.88% a year ago brings the number much closer to pre-pandemic norms, but foreclosure starts are a different story.
U.S. homebuilder sentiment rises for first time in five months
U.S. homebuilder sentiment rose in September amid lower lumber prices and strong housing demand.
Mortgage payments have jumped nearly twice as high as rents
Southwestern housing markets had the largest annual changes in median monthly home loan payments, with one increasing more than 30%, according to Redfin.
Multifamily construction picks up in smaller cities
Single-family home construction also increased across communities of all sizes, but notably in outlying metro areas.
Fannie Mae, Freddie Mac give consumers an edge in foreclosure sales
The extension in the number of days investors are locked out of the process comes amid a broader push by the Biden administration to boost access to affordable housing.
Mountain states led home price growth for 4 years
Meanwhile, property values across the U.S. have increased for 40 quarters in a row, according to the Federal Housing Finance Agency.
California dropped out of top 10 investor housing markets in 2020
None of the leading areas ranked by investor share of sales were in the Golden State during 2020, in contrast to the state’s dominance on the list in the wake of the Great Recession.
Jumbo and FHA growth lagged further behind GSE loans in past year
Refinancing, high home prices, the concentration of pandemic-related hardships in the FHA market, and the lingering impact of last year’s market disruption all likely played a role in the intensified discrepancy.
Rising interest rates contribute to mortgage volume drop
But average loan sizes remain near record highs, with summer purchases of new constructions continuing to drive up prices.
Buyers and sellers grew pessimistic about the housing market in July
Tight inventory and heightened competition kept prime purchasers at bay as property values continued their summer surge, according to Fannie Mae.
Redfin adds predictive data on climate change to its local statistics
A ClimateCheck score measures the risk of disaster at the zip-code level over the period of a 30-year mortgage.
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