Existing home sales in May will increase by 5.8% from the same month last year, the real estate marketplace Auction.com predicts. The company also expects existing home sales to rise 2.9% from April.
Home purchase loans have once again taken the majority share of originations, although volume shrunk by 11% from the same time last year.
The Commercial Real Estate Financing portal allows investors to apply for financing through Auction.com with the company's preferred lenders.
With older appraisers retiring and fewer and fewer college graduates entering the profession, industry observers say that, in five to 10 years, there won't be enough appraisers to handle the volume of home sales. For lenders, that could mean higher appraisal fees and long delays in closing loans at a time when technology could be speeding up the process.
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