Housing markets

Recent affordability and interest rate trends led to “clear evidence” of discouragement among potential consumers in the purchase market in the first three months of 2022, according to the National Association of Home Builders.

One Cupertino broker noted a small shift in the market, with buyers being more particular and willing to back out of deals.

First American’s Real House Price Index showed a record increase, reflecting both elevated home prices and fast-rising interest rates.

The lender and the home improvement retail chain will facilitate eligible borrowers paying for energy-efficient appliances using Federal Housing Administration loans.

This part of the city's market is still struggling to recover from the pandemic, lagging the frenzied overall housing market in speed and price appreciation.

Sales of previously owned U.S. homes fell in March to the lowest since June 2020 as historically low inventory paired with rising mortgage rates curbed purchases.

Economists have largely slashed mortgage forecasts for 2022, but only the government-sponsored enterprise expects lower purchase volume for 2023, citing the likelihood of a downturn.

Despite lean inventory, efforts by builders to boost production have been hindered by supply-chain challenges, soaring materials costs and difficult hiring conditions.

Researchers at the government-sponsored enterprise noted the role rising rates are playing in increasing housing costs in its report, now offered publicly for the first time.

U.S. consumers expect mortgage rates to increase substantially over the next several years, with households on average projecting rates of 6.7% a year from now and 8.2% in three years, according to a survey released by the New York Federal Reserve.

While both refinance and purchase customers were banging down the doors in 2021, leading producers are already working much harder as they change up their offerings.

Suburban pushback against a proposal that would have loosened regulations of new units in New York State led to its removal from the state budget.

Decreasing affordability and remote work is spurring interest in moving to these often overlooked markets.

Out of all investor group types, those with the deepest pockets — property giants with 100 or more homes — tamped down their spending most at the end of last year, CoreLogic reported.

But experts continue to downplay the extent of the risk of a housing bubble.

With rising costs and few houses for sale, millennials and Gen Z are increasingly willing to purchase at auction, a ServiceLink survey found.

Purchases completed above the asking price made up 9.3% of all transactions, the highest portion in four years.

The bank’s grant programs include providing funding to increase housing developer diversity and for counseling services.

But the share of homes purchased by those under age 30 has fallen steadily after peaking in 2020 as prices accelerated.

Lawmakers during a committee meeting on senior housing doubled down on past arguments blaming investors and government spending for the nation’s tight market.