Home Flipping Declines Again, ATTOM Finds

ATTOM, Irvine, Calif., found the rate of house flipping–while still historically high–has fallen to the lowest point in two years.

Quote: Nov. 17, 2023

“Home builders have been able to temper this high-rate environment by offering buyers rate buydowns and other incentives. We estimate that the pace of home sales increased for the third straight month to a 715,000-unit annual pace – the strongest sales month since May 2023.”
–Joel Kan, MBA’s Vice President and Deputy Chief Economist

ATTOM: Foreclosure Activity Steady In October

ATTOM, Irvine, Calif., found 34,472 U.S. properties with foreclosure filings in October, down 6 percent from a month ago but up 6 percent from a year ago.

Quote: Nov. 16, 2023

“Given the inextricable link between mortgage lending, the American Dream, and the overall health of the economy, banking regulators should be doing whatever they can to support real estate markets and the broader economy. Unfortunately, the opposite is happening.”
–MBA President & CEO Bob Broeksmit, CMB

ATTOM Finds Profit Margins, Homeownership Tenure, Cash Sales Up

ATTOM, Irvine, Calif., released its third-quarter 2023 U.S. Home Sales Report, showing profit margins on median-priced homes are up from the second quarter, along with other metrics such as homeownership tenure and cash sales.