Nebraska Lawmaker Proposes Ban on Corporate Acquisition of Single-Family Homes
In response to long-standing housing shortages, Senator Justin Wayne from north Omaha is advocating for a groundbreaking bill in Nebraska. The proposed legislation aims to prevent out-of-state hedge funds and corporate entities from purchasing single-family...
Factors Influencing Rise in Foreclosure Filings Across the US
In January 2024, ATTOM Data's U.S. Foreclosure Market Report revealed a concerning trend: foreclosure filings surged, impacting 33,270 properties nationwide. This marks a 5% increase from the previous year and a notable 10% jump from the prior month. Foreclosure...
Hometap Achieves $1 Billion Milestone in HEi Originations
Boston-based company Hometap has recently joined the prestigious $1 billion Home Equity Investment (HEi) club, marking a significant achievement in the realm of real estate finance. Founded in 2017, Hometap announced on February 13th that it had surpassed 10,000 HEi...
Mortgage Applications Up 8%, Purchase Volume Still Low
Mortgage application volume saw a modest increase for the week as rates held steady. The Mortgage Bankers Association (MBA) reported a 3.7 percent rise in its Market Composite Index, adjusted for seasonal factors, compared to the previous week, which included MLK...
Pending Home Sales Drop Sharply In Four Months
The most recent report by Redfin indicates that pending home sales have experienced their most significant decline in four months, dropping by 8% due to rising mortgage rates and adverse weather conditions. On February 2, the scenario worsened significantly as daily...
Anticipating The Federal Reserve’s Interest Rate Cuts
Market observers are eagerly awaiting signs of interest rate cuts from the Federal Reserve. Jerome Powell, the central bank chair, hinted in a recent interview on CBS’ 60 Minutes that rate cuts are imminent but not immediate. He suggested they could happen in 2024 but...
Population Growth: South Surpasses West In The Great Migration
The enduring allure that Americans once felt for the West appears to be diminishing, with high housing expenses in Western cities nudging individuals toward the South, according to an analysis by the Bank of America Institute. Over the years, the Western region...
Optimism Regarding Mortgage Rates Peaks After Nearly Two Years
In January, the Fannie Mae Home Purchase Sentiment Index (HPSI) rose by 3.5 points to 70.7, its highest level since March 2022. This increase was driven by more buyers expecting mortgage rates to drop and increased confidence in job stability. About 82% of consumers...
Year-End Report Reveals Sellers Earned Over $100k In Profit
In the latest ATTOM Data U.S. Home Sales Report, sellers made an average profit of $121,000 per sale, representing a 56.5% return on investment. However, this figure decreased by 3% for the first time since 2011. This represents the initial decrease in either figure...
Surge In New Home Construction During Q4
A recent analysis by Redfin discovered that around 31.8% of single-family homes put up for sale in the United States during the fourth quarter were newly built. This figure closely mirrors the peak percentage ever recorded for any fourth quarter, which was...
