Housing markets

Rather than add debt through a HELOC, the company’s product allows clients to get cash in exchange for a portion of the property's value.

The company co-founded by former Zillow CEO Spencer Rascoff raised $125 million from investors including SoftBank Vision Fund 2.

The number of borrowers leaving plans outweighed a smaller uptick in new requests and re-entries.

Southwestern housing markets had the largest annual changes in median monthly home loan payments, with one increasing more than 30%, according to Redfin.

While the monthly numbers are higher, they remain a far cry from pre-pandemic levels, suggesting it could be awhile before they return to normal.

Orchard, which offers cash to homebuyers upfront so they can purchase a new residence before selling their old one, raised $100 million to fuel growth in an ultra-competitive housing market that’s pushing shoppers to find new ways to stand out.

But distressed loans released from backlogs by discontinued foreclosure bans could drive numbers higher eventually, depending on the strength of the housing market

Single-family home construction also increased across communities of all sizes, but notably in outlying metro areas.

A rising — but still small — share of borrowers believe interest rates and housing price appreciation will fall in the next year, according to Fannie Mae.

The jump is the largest 12-month gain in the index since the series began 45 years ago.

The changes could help one of the Biden administration’s affordable housing goals, which is aimed at making wealth-building through owner-occupied, 2- to 4-unit properties more attainable.

Residential construction was up 27% year over year in July, according to the U.S. Census Bureau.

Almost $35 million of the total is earmarked for compliance efforts at 93 organizations.

What that means for the industry outlook depends in part on how well the imbalance between supply and demand for homes sustains wavering gains in the housing market.

Roughly $8 billion to $12 billion of the residential losses in the Louisiana area could be insured, according to CoreLogic. The storm’s more recent Northeast impact has not yet been calculated.

Price growth is moderating and properties are taking longer to sell — albeit by a modest three days.

The extension in the number of days investors are locked out of the process comes amid a broader push by the Biden administration to boost access to affordable housing.

Meanwhile, property values across the U.S. have increased for 40 quarters in a row, according to the Federal Housing Finance Agency.

The S&P CoreLogic Case-Shiller index of property values nationwide surged 18.6% in June from a year earlier, according to a statement on Tuesday.

None of the leading areas ranked by investor share of sales were in the Golden State during 2020, in contrast to the state’s dominance on the list in the wake of the Great Recession.