The national median home-sale price hit a record high $377,200 in May, up 26% year over year, reported Redfin, Seattle.
Category: News and Trends
Apartments Grow as Work from Home Spreads
RENTCafé, Santa Barbara, Calif., reported many apartments are growing larger, in part due to increased working from home.
Dealmaker: Newmark Arranges $500M Acquisition, Construction Loan for 111 Wall Street
Newmark, New York, closed a $500 million acquisition and construction loan for 111 Wall Street in Manhattan’s Financial District.
MBA Weighs In With SEC on Climate-Related Disclosures
The Mortgage Bankers Association this week urged the Securities and Exchange Commission to follow a set of guiding principles as it considers climate-related disclosures.
The State of the Nation’s Housing: Millions Face Risk of Eviction or Foreclosure
Households that weathered the pandemic without financial distress are “snapping up” the limited supply of homes for sale, pushing up prices and excluding less-affluent buyers from homeownership, the Joint Center for Housing Studies at Harvard University reported Wednesday.
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“May marked the likely peak of the blazing hot pandemic housing market, as many buyers and sellers are vaccinated and returning to pre-pandemic spending patterns. Sellers are still squarely in the drivers’ seat, but buyers have hit a limit on their willingness to pay. The affordability boost from low mortgage rates has been offset by high home price growth.”
–Taylor Marr, Lead Economist with Redfin, Seattle.
May New Home Purchase Mortgage Applications Decline
Mortgage applications for new home purchases fell for the second straight month amid tight inventories and sharply rising prices, the Mortgage Bankers Association reported Thursday.
MBA Offices Closed Today
Offices of the Mortgage Bankers Association will be closed this Friday, June 18, in observance of the Juneteenth holiday.
MISMO Approves Commercial Appraisal Dataset Standard
MISMO, the real estate finance industry’s standards organization, announced availability of its updated Commercial Appraisal Dataset standard.
Jim Paolino of Mortgage Sentinel: It’s Time for Lenders to Start Planning for a Changing Market
Demographic and other changes indicate mortgage industry is at a crossroads with the way we’ve done business for years.