REALTORS & HOMEBUILDERS

Confidence among US homebuilders unexpectedly fell in January, as costly sales incentives outweighed a recent boost from lower mortgage rates and the president's housing proposals.

NAHB's remodeling index finished at its highest mark in a year, with the current industry outlook standing in stark contrast to homebuilder sentiment.

Mortgage applications for new-home purchases decreased 15.2% on a seasonally adjusted basis in December, according to the Mortgage Bankers Association.

A Florida man's racketeering class action case accuses two mortgage employees of conspiring with a homebuilder to facilitate fraudulent construction draws.

Sales of new homes in the US were little changed in October near the strongest pace since 2023 as builders lured anxious customers with price cuts and incentives.

The deal which brings hundreds of thousands of agents under one roof also combines retail lender Guaranteed Rate's separate joint ventures with each brokerage.

Housing starts in the US fell in October to the lowest level since the onset of the pandemic as data delayed by last fall's government shutdown showed builders continued to cut back amid still-high prices and mortgage rates.

Blackstone stock fell by as much as 9.3% after Trump said he was "immediately taking steps to ban large institutional investors from buying more single-family homes."

The number of remodeling establishments hit at a record high earlier this decade and now accounts for over 60% of home construction-related businesses.

A majority of recent sellers said they offered to cover closing costs, with many also buying down mortgage rates, according to a new report from Zillow.

A modest improvement in prices and mortgage rates encouraged buyers. Signings have now increased for four straight months, matching a pandemic streak.

New-home purchase activity rose 3.1% year over year, but dropped 7% from October, the Mortgage Bankers Association said.

Confidence among US homebuilders edged up in December as builders continued to deploy sales incentives to motivate buyers.

The class action suit doubles down on accusations that the homebuilder and its lending arm are deceiving borrowers about their monthly mortgage payments.

Gallego introduced legislation to amend the EB-5 immigrant investor visa program in order to funnel more money into the construction and rehabilitation of homes. 

Even to the detriment of greater profits, the sector is offering ultra-low terms via temporary buydowns combined with larger forward commitments.

In November, 41% of builders reported cutting prices, a record in the post-Covid period, according to Tuesday's report. More broadly, 65% reported using sales incentives, unchanged from the prior two months.

New-home mortgage applications dropped, but the annual sales pace was the strongest in over a year, the Mortgage Bankers Association said.

In markets across the US, homebuilders sitting on unsold inventory are subsidizing mortgage rates so heavily they sometimes match the record lows last seen during the Covid-19 pandemic.

Components of the index all rose, including the highest reading for sales expectations in the next six months since the start of the year.