Housing markets

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.

Contract closings rose 5.1% to a 4.35 million annualized pace last month, the highest since February 2023, according to figures released Wednesday by the National Association of Realtors.

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 survey, taken before Pres. Trump's $200 billion MBS buy demand, finds panelists worried over inflation, but also see employment as the larger downside risk.

Trump's proposed $200B MBS purchase briefly tightened mortgage spreads, but analysts question the long-term impact on mortgage rates and GSE balance sheets.

Home prices are now something Americans can wager on. Polymarket partnered with Parcl to offer prediction markets tied to housing price indices.

With ongoing affordability issues, the Federal Housing Administration program will keep taking low down payment market share from the private mortgage insurers.

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.

Rochester, New York, and Harrisburg, Pennsylvania, stood atop Realtor.com's list for the second consecutive year, due to their affordability.

President Trump's concept, which is framed as a potential bipartisan effort, could mean a new route to a goal Dems targeted via foreclosure sale restrictions.

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."

Although some of the cohort surveyed were flush with savings, others admitted having precarious debt situations and steadfast attitudes toward luxury purchases.

Annual home-price appreciation ended last year at 0.7%, the smallest calendar-year increase since 2011, when prices dropped 2.9%, according to ICE.

Late last year, commercial bank holdings of mortgage paper reached the highest level since 2023 as these depositories are flush with deposits.

The impact of extreme weather remains top of mind for many, with a majority of homeowners citing it as a factor behind purchase or relocation considerations.

Mamdani issued several other orders, including one that created a new office devoted to community engagement and three that concern housing and real estate.

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

After the ceremony on Thursday, Mamdani announced three executive orders focused on housing affordability to kickstart his agenda.