Housing markets

Drop in new contracts and waining interest point to a slower Q3 as consumers grow cautious about a recession.

But second home sales — which were below pre-pandemic levels for the first time in 24 months during May — may slow in the future as those in vulnerable areas get tougher to insure.

Even with another annual surge of over 20%, the pace of home-price growth eased in May and experts anticipate even further moderation over the next year.

Congressional authorization for credit-preference programs in the Equal Credit Opportunity Act could mitigate disagreements that might arise from the equitable housing finance plans, write two partners at K&L Gates.

Recession fears and rising mortgage rates are cutting buyer confidence. Even as sales have been falling, sellers have only just started adjusting expectations.

While those born between 1946 and 1964 have largely chosen to age in place, their eventual home downsizing or passing is not likely to result in a large burst of inventory entering the market, according to a report from the MBA's Research Institute for Housing America.

High mortgage rates and high prices are starting to slow down the market. Still, tight inventory is keeping values high.

Mortgages rates are at the highest since 2008, making borrowing more expensive, but could moderate demand and eventually ease price pressure.

The median prices for the most sought-after metro areas were on average $128,000 lower than in the city the buyer was leaving, Freddie Mac's study of Loan Product Advisor data found.

In the states with the largest share of LGBTQ+ couples, homes cost $116,000 more on average than the states with the lowest share, according to a LendingTree report.

Also: UWM offers deep discounts, no fix in Congress for flood insurance program, home flipping profits decline

UpEquity reportedly saw its growth projections decimated by the cooling refinance market and terminated positions in anticipation of a tepid fundraising environment.

For the 10th consecutive week, the brokerage’s Demand Index declined, this time by the largest share in over two years.

The rise comes as some homebuyers are worried about even higher borrowing costs. Still, homebuilder sentiment sank further to a two-year low.

The company was an aggressive buyer of rentals during the pandemic, but it is reversing course as the housing market cools.

Industry leaders suggested they’ve "never felt so worried at a time when everything feels so good otherwise," said Chris Herbert, managing director of the Joint Center for Housing Studies of Harvard University.

In some of the regions with the biggest slowdowns, the company is offering incentives to boost demand.

Depreciation risk in parts of New Jersey, Illinois and California is growing, according to a first quarter analysis by Attom Data Solutions.

Many cities with higher shares of list price drops also appeared on a list of the most overvalued areas in the country.