2024 inventory growth challenges mortgage rate lockdown

The mortgage rate lockdown premise holds that very few people will list their homes when mortgage rates are this high, thus suppressing inventory. But 2024 has proven that theory wrong. 2024 has had healthy inventory growth despite mortgage rates above 7%. Also, for the third time this year, I have hit

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HUD announces relief for Texas disaster victims

The U.S. Department of Housing and Urban Development (HUD) announced this week that it is extending a 90-day foreclosure moratorium for all Federal Housing Administration (FHA)-insured mortgages to the federal disaster area in Texas stemming from severe weather, tornadoes and flooding that hit several counties beginning on April 26. The

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Dave Mele exits as Homes.com president

Dave Mele, president of Homes.com since 2014, has left CoStar Group to pursue “an opportunity outside of the real estate industry,” he confirmed to Real Estate News on Friday.  During his tenure, Mele guided Homes.com through its acquisition by CoStar in 2021 and its emergence as a significant player in

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Home prices in opportunity zones show mixed trends in Q1 2024

Median prices for homes and condominiums in federally designated opportunity zones rose in 49% of areas from fourth-quarter 2023 to first-quarter 2024, according to a report released Thursday by Attom.  On a year-over-year basis, however, prices increased in nearly two-thirds of these zones. Attom analyzed 3,512 zones with sufficient data, defined

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