Housing Market Update: Home Prices Increased a Record 17%, Pending Sales Up 19% From a Year Earlier
The average sale-to-list price ratio passed 100% for the first time as home prices surge….(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it. Around The Web
South Carolina Real Estate in February: Sales Up 13% YoY, Inventory Down 46% YoY
Note: I’m posting data for many local markets around the U.S. The story is the same everywhere … inventory is at record lows. From the South Carolina Realtors for the entire state: Closed sales in February 2021 were 7,127, up 13.4% from 6,284 in February 2020. Active Listings in February 2021 were 14,253, down 46.3% […]
Commercial Real Estate and Economic Outlook
These slides were presented by NAR Chief Economist Lawrence Yun at NAR’s Commercial Real Estate Forecast Summit on March 10, 2021. www.nar.realtor – Research
Mortgage Rates Modestly Lower, But Hoping For More
At this point, no one should be surprised to hear that mortgage rates have moved significantly higher in 2021–especially in the past few weeks. There are several reasons for this, but the easiest way to make sense of it all is to say “rates were ultra low when covid was at its worst and they’ve […]
MBS RECAP: Huge Jobs Report, Logical Weakness, and a Nice Bounce, But…
Posted To: MBS Commentary Huge Jobs Report, Logical Weakness, and a Nice Bounce, But… Bonds did quite well today considering Powell's endorsement of higher rates (yesterday) combined with this morning's significantly stronger jobs report. Most of the push back was seen in MBS, however, and even then, closing levels are only really worthy of enthusiasm […]
Pending Home Sales Retreat 2.8% in January, but Climb From Last Year
Pending Home Sales Retreat 2.8% in January Pending home sales took a step backward in January as inventory constraints continue to hold back prospective buyers. Media Contact: Quintin Simmons 202-383-1178
NAR Applauds House Vote to Secure Housing Rights for LGBTQ Americans
The legislation would ensure sexual orientation and gender identity are included as prohibited bases for discrimination under the Fair Housing Act. www.nar.realtor – Fair Housing
Forbearances Tick Up; Relief Extended; Brutal Week For Rates But There’s Hope (Hopefully)
Rising rates have been on the menu for months, but the drama kicked into a higher gear this week. Maybe you heard about this? We’ve certainly been discussing it in recent newsletters ( especially last week’s ). The rising rate narrative hit the mainstream this week as it was widely credited for doing damage to […]
Brutal Week For Rates But There’s Hope (Hopefully)
Rising rates have been on the menu for months, but the drama kicked into a higher gear this week. Maybe you heard about this? We’ve certainly been discussing it in recent newsletters ( especially last week’s ). The rising rate narrative hit the mainstream this week as it was widely credited for doing damage to […]
Mortgage Rates Surge After Powell Comments
Posted To: Mortgage Rate Watch Mortgage rates jumped quickly today after Q&A session with Federal Reserve Chair Jerome Powell. What did he say to cause such drama? Actually, it’s more about what he didn’t say. For some reason, market participants were expecting (or at least hoping) that Powell would say something to address the recent […]