The housing market is no stranger to supply constraints. A toxic combination of wildly inflated lumber prices, a lack of new and existing homes, and the sheer number of borrowers willing to pay tens of thousands of dollars over ask on homes they’ve never seen in person, has created a
This article first appeared in the June 18th newsletter Lending Life. Sign up here to receive each weekday. On Thursday, President Joe Biden signed a bill into law, declaring June 19th, or Juneteenth, a federal holiday. Biden’s order commemorates the date the last enslaved African-Americans were informed that they were
The waning pandemic in the U.S. is opening substantial opportunities across many housing sub-markets. All of these markets benefit from an accurate understanding of valuation and property characteristics, but the data sources that power them leave out a crucial component: property condition. HousingWire recently spoke with Raj Dosaj, head of
For Jason Vanslette, a lawyer who specializes in foreclosure litigation, everything came to a screeching halt on March 27, 2020. President Donald Trump had just signed the CARES Act into law, and with it, a moratorium on foreclosures and evictions had locked into place. Vanslette, a partner at Kelley Kronenberg
Through a stroke of lucky timing, the New York Department of Financial Services (NYDFS) had gained traction with a reorganized and strengthened consumer advocacy mission just before the COVID-19 pandemic erupted in early 2020. Homeowners, renters, borrowers, lenders and mortgage servicers had one less thing to worry about as they
Only 2.7% of all home sales in the first quarter of 2021 were flips — or one in 37 transactions, the lowest level since 2000. Per a report from ATTOM, a national property database, 32,526 single-family homes and condominiums in the U.S. were flipped in the first quarter. That number is down
Stewart Title continues to tinker with its national footprint. The title giant recently combined its two Northern Nevada divisions – Legacy Division and Western Division. Legacy was previously Capital Title, and Western was formerly Western Title Company — the latter Nevada’s sixth-oldest company, which was acquired in a purchase of 57
“These are the best of times,” declared Stuart Miller, chairman of the board for Lennar Thursday. And the homebuilder’s quarterly financial performance backs up what Miller is talking about. Lennar, best known for producing homes for the middle class, reported $831 million in net income for the months of March,
Mortgage applications for new home purchases fell 9% month-over-month in May at a seasonally unadjusted pace ― the second consecutive month sales of new homes have dropped, according to data released Thursday by the Mortgage Bankers Association. Compared to May of last year, MBA’s Builder Application Survey (BAS) revealed purchases
Phoenix, Austin, Sacramento, Las Vegas and Miami reported the biggest increase in home prices in May, according to a recent report from Redfin. Home prices in Austin were up 42.4% year over year in May to $470,000, the biggest increase of the 88 largest U.S. metros. Phoenix, with a 33.3%
Despite rising home prices and a supply crunch, the purchase market is still wildly hot. In light of that, HousingWire sat down with Peter Paglia, Chief Strategy Officer at HomeBinder, to discuss how to create a “Client for Life” in this environment. HousingWire: As the refi boom simmers down, why should
Median home-sale prices hit yet another record high in May — up to $377,200, a 26% increase year over year. And 54% of homes sold above their asking price in May — another a record high, up from 26% a year ago, according to a new report from Redfin. The
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Zillow News Truth Delta: Opinion & Editorial