Former MBA Chair Regina Lowrie, CMB, Passes Away
Regina Lowrie, CMB, who made history in 2005 as the first female elected Chair of the Mortgage Bankers Association, passed away suddenly on Jan. 1. She was 68.
November New Home Sales Up 5.8%
New home sales beat expectations in November, HUD and the Census Bureau reported over the holiday season, rising by nearly 6 percent from October.
Pending Homes Down 6th Straight Month
Pending home sales slid for the sixth consecutive month in November, the National Association of Realtors reported Wednesday, to their second-lowest monthly reading in 20 years.
Housing Market Roundup: Luxury Home Sales Plummet; Buyers Get Some Leverage Back
Here’s a summary of housing market reports that came across the MBA NewsLink desk over the holidays:
MBA Chart of the Week: New, Existing Home Sales
We are forecasting a weak start to 2023 for the housing market. Driven by a recession in the first half of the year and a continuation of the trends outlined above, we expect a 13% drop in existing home sales and a 4% decrease in new home sales for 2023, following 16% decreases in both segments in 2022.
Home Price Reports: Monthly Gains Turn Negative
Annual home price appreciation, which flew along at a 20-percent pace for much of the past several years, appears to be grinding to a much slower pace going into 2023.