Independent banks reported a pre-tax net loss of over $500 on every loan originated during the second quarter of 2023. This marks a notable improvement over losses posted in the first quarter.
Read More »Census Bureau Finds Building Permits Increased in July
According to the U.S. Census Bureau, privately owned housing units counted by the number of building permits issued in July were at a seasonally adjusted annual rate of 1,442,000. This number is slightly above the revised June rate but still 13% below the July 2022 rate of 1,658,000.
Read More »Real Estate Market Hits All-Time High, Now Valued at $47T
The last market peak occurred in June of 2022 when the real estate market set its all-time high of $46.6T, but now a shortage of homes has propped up sales, pushing valuation numbers ever skyward.
Read More »Does Recent Data Signal a Bottom in the Housing Market?
According to First American Financial Corporation, housing affordability fell relative to one month ago as two of three key drivers of the Real House Price Index (RHPI), nominal house prices and mortgage rates reduced house-buying power by 0.7%.
Read More »Eight Percent of Homes Nationwide are Worth $1M+
According to a new report from Redfin, just 8% of single-family homes throughout the country are worth more than $1 million, a number which has retreated from an all-time high of 8.6% from just over a year ago.
Read More »Building Codes Could Help Reduce Physical and Financial Risk
Can modern building codes protect homeowners and insurance companies from physical and financial risk after a disaster? Click through to learn more.
Read More »Home Price Gains Occurred in 60% of Top Markets
According to a new NAR report, home prices increased by single-digits in 128 of the 221 metropolitan areas tracked. Here’s why NAR Chief Economist Lawrence Yun says that "affordability challenges are easing.”
Read More »Don’t Take the First Offer: Homebuyers Still Benefit From Shopping Around
Just because mortgage rates are relatively high doesn’t mean pennies can’t be saved. A new study reveals borrowers in the nation’s 50 largest metros could save an average of $84,301 over the lifetime of their loans by shopping around for a mortgage.
Read More »Mortgage Wire Payoff Fraud Attempts Increase Five-fold
A new company, CertifID’s PayoffProtect, has achieved widespread adoption in the title and real estate industry, resulting in $37B in transactions protected from fraud.
Read More »Wildfires, Property Values, and San Diego
How wildfire risks impact property values in San Diego County.
Read More »