Housing markets

But that's largely because homes are staying on the market longer — almost three weeks more than in early summer on average.

A new state study suggests that mortgage lenders are putting up barriers to home ownership among people of color.

Home prices, sales volumes, interest rates are expected to drop next year, researchers at the company forecasted.

But they will start increasing again by next October, according to a forecast by CoreLogic.

Home prices dropped again on a monthly basis in October, exacerbating the loss in home equity among recent buyers, but the size of the falloff was the smallest since June.

A record number of homes are being delisted as sellers face a sharp drop in demand, according to real estate brokerage Redfin.

The range in the size of mortgages to be insured by the agency in 2023 runs between $472,030 to $1,089,300, while maximum claims on HECMs will similarly increase.

New York, Chicago and Philadelphia led the list of large metropolitan markets considered vulnerable to a downturn, based on analysis from Attom.

Allowing Fannie Mae and Freddie Mac to buy these loans encourages consumers to purchase more expensive homes, the group said.

Approximately 41% of respondents to a LendingTree survey think one will occur in the next 12 months, with three-quarters feeling it may be worse than in 2008.

The National Association of Realtors index of contract signings to purchase previously owned homes decreased 4.6% last month, according to data released Wednesday.

The increased limit on the size of the mortgages the government-sponsored enterprises will be able to buy reflects the year-over-year change in home prices.

It was the third straight decline for the seasonally adjusted measure of prices in 20 large U.S. cities, according to the S&P CoreLogic Case-Shiller index. 

"This is Han Solo in carbonite: This is a market that could stay frozen for quite some time," said Benjamin Keys, a real estate professor at the University of Pennsylvania's Wharton School.

Prospective borrowers are still looking at inland hotspots but coastal cities will make a comeback in the next 12 to 24 months with favorable acquisition costs and inventory, according to Guaranteed Rate's top-ranked loan officer.

Living next to an ALDI's, Trader Joes or Whole Foods increases home price appreciation, according to an Attom report.

Rising mortgage rates also led to the highest level of listing price reductions as well as the largest annual drop in pending home sales, Redfin found.

Contract closings decreased 5.9% to an annualized pace of 4.43 million last month, according to the National Association of Realtors

The decline in loan activity and softening prices also helped drive down builder sentiment for the 11th month in a row.

Applications to build, a proxy for future construction, fell to an annualized 1.53 million units, as single-family family permits fell to early pandemic levels.