Mortgage applications fell for the week ending Dec. 20 from one week earlier as key interest rates edged up, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey.
The S&P CoreLogic Case-Shiller Home Price Indices reported a 3.3% annual gain in October, up from 3.2% in the previous month.
Recent apartment construction far exceeds construction seen in the previous decade. But apartment demand is even stronger, said Berkadia and Realpage.
In the third quarter, homeowners’ equity in real estate reached $18.7 trillion--continuing a run of consecutive quarterly increases dating back to 2012.