Redfin, Seattle, said demand for vacation homes has fallen below the pre-pandemic baseline for the first time in two years, with mortgage-rate locks for second homes down 4 percent from before the pandemic in May.
Category: News and Trends
Dealmaker: Institutional Property Advisors Brokers $47M Arizona Multifamily Sale
Institutional Property Advisors, Ontario, Calif., sold Port Royale, a 252-unit multifamily property in Sierra Vista, Ariz., for $46.5 million.
Record-Breaking Home Prices, Rents Likely to Cool
After a record-shattering 2021, the housing market has reached an inflection point, according to the Harvard Joint Center for Housing Studies, Cambridge, Mass.
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“Multi-housing market fundamentals are exceptionally strong, and the relatively shorter nature of leases is a favorable attribute in an environment of higher inflation, which allows properties the ability to mark-to-market on an annual basis versus other asset types.”
–JLL Senior Managing Director Roberto Casas
MBA Human Resources Symposium Sept. 8-9
The Mortgage Bankers Association’s annual Human Resources Symposium takes place Sept. 8-9 in Arlington, Va.
MISMO Seeks Public Comment on Implementation Guide for SMART Doc Version 3 Verifiable Profile
MISMO®, the real estate finance industry’s standards organization, seeks public comment on an implementation guide for its new SMART Doc® Version 3 Verifiable Profile standard.
Rising Prices, Mortgage Rates Make Homeownership Unaffordable in Most Of U.S.
ATTOM, Irvine, Calif., said median-priced single-family homes and condos are less affordable in the second quarter compared to historical averages in nearly all U.S. counties.
MBA RIHA: Baby Boomer Homeowners’ Mortality Expected to Have Minimal Impact on Housing Supply and Prices
More than 4 million existing-homes for sale annually over the next decade will come from the aging and mortality of older homeowners, but sustained homebuyer demand from population growth and younger-generation households should lead to minimal excess housing supply and have no measurable reduction in home prices.
Home Price Indices Approach, Exceed 20% Annual Rate
Two home price indices on Tuesday showed home price appreciation approaching and in one case exceeding a 20 percent annual rate.
Carolyn Thomas of KHA Alpine Advisor: Business Volumes Demand Efficient Solutions to Your Accounting and Compliance Needs
To many mortgage business owners, the cost of employees can be a significant portion of their business budget. It can also make a significant impact on the success or failure of their business. It’s in this area that experts within the mortgage industry can help you make better decisions by providing you with expertise and services that can streamline your financial management.