Category: News and Trends

Home remodeling has been on an extended kick the past few years, with more homeowners opting to stay in their homes longer amid rising home prices and housing inventory shortages. Now, several forecasts see a slowdown in remodeling activity–which, for the mortgage industry, might not be such a bad thing.

The Census Bureau yesterday said the U.S. homeownership rate fell for the first time in two years amid market volatility and a decline in consumer confidence.

Home insurance rates have increased in every state over the past decade–but the biggest increases have occurred in states one might not associate with high-profile disasters.

More than 10 years past the Great Recession, African-American and Hispanic communities hit hard by foreclosures have yet to fully recover, said Zillow, Seattle.

ATTOM Data Solutions, Irvine, Calif., said homeowners who sold in the first quarter realized an average price gain of $57,500 since purchase, representing an average 31.5 percent return on the purchase price.

Black Knight, Jacksonville, Fla., said mortgage prepayment activity increased by 28% month-over-month in March, the largest single-month increase since 2016, in response to declining interest rates and the start of the spring home buying season.

Commercial property market supply and demand fundamentals remained stable in late 2018, Moody’s Investors Service reported.

More signs point to a possible commercial real estate downturn in the next 12 months or so, said Situs RERC, Houston.

New grocery store openings increased 30 percent in 2018 compared to 2017 as grocers added more than 17 million square feet of space in the U.S., reported JLL, Chicago.

ATTOM Data Solutions, Irvine, Calif., said U.S. foreclosure activity fell by 15 percent in the first quarter to its lowest level since first quarter 2008.