December 28, 2021
Will the housing market continue its hot streak in 2022? Industry experts say yes! We review 3 predictions that will continue to drive the housing market in Lane County in 2022.
“All markets are seeing strong conditions and home sales are the best they have been in 15 years. The housing sector’s success will continue – but I don’t expect next year’s performance to exceed this year’s.”
LAWRENCE YUN, NATIONAL ASSOCIATION OF REALTORS CHIEF ECONOMIST
October 27, 2021
Strong consumer demand helped drive builder confidence higher in October according to the most recent National Association of Home Builders Housing Market Index. The National Association of Realtors also released This Week in Real Estate that September existing-home sales realized a 7% increase over August sales. The Mortgage Bankers Association announced their expectations for 2022 this week, forecasting a 9% increase of purchase mortgage originations to a record of $1.73 trillion, a 62% decrease in refinance originations to $860 billion and the 30-year fixed-rate mortgage increasing to 4.0% by the end of 2022.
“Some improvement in supply during prior months helped nudge up sales in September,”
LAWRENCE YUN, NATIONAL ASSOCIATION OF REALTORS CHIEF ECONOMIST
October 11, 2021
October is one of the BEST months of the year for homebuyers, the number of mortgages in forbearance declines drastically and home buying demands pushed home prices to an all-new high in August. We take a closer look This Week in Real Estate.
“Buyers willing to close in October avoid prices well above market value.”
ATTOM STAFF
October 4, 2021
The housing market is starting to cool down a bit as we take a look at what experts are predicting for 2022. This as mortgage rates jump above 3%, but will they keep rising? We take a closer look This Week in Real Estate.
“An increase in mortgage rates over the next few months—even though expected to be slight—“will likely have an impact on home prices, causing them to moderate slightly after increasing over the last year.”
Sam Khater, chief economist for Freddie Mac
September 27, 2021
The National Association of Home Builders that builder sentiment in September realized its first increase in three months. Additionally, a new report from CoreLogic reveals homeowners with mortgages gained $2.9 trillion in equity in the second quarter of 2021, a 29.3% year-over-year increase. We take a closer look This Week in Real Estate.
“Home equity wealth is at a record level and will bolster economic activity in the coming year.”
Dr. Frank Nothaft, chief economist for CoreLogic
August 9, 2021
Sellers are still thriving as home prices remain high, ATTOM Data Solutions reported that 34.4% of all residential properties with a mortgage are equity-rich; that is up from 27.5% at the same time last year. That means 34.4% of residential property owners with a mortgage have more than 50% equity in their homes. In other favorable news, after the unemployment rate surged as a result of COVID-19 the unemployment rate is now just 1.9 percentage points above the rate in February 2020 following a strong July jobs report. We take a closer look This Week in Real Estate.
The huge home-price jumps over the past year that helped millions of sellers earn big profits also kicked in big-time during the second quarter for other owners who saw their typical equity improve more than at any time in the last two years.
Todd Teta, chief product officer with ATTOM
July 11, 2021
Sellers are still thriving as home prices remain high, mortgage rates hit a 5-month low, and home appreciation grows to record levels. We take a closer look This Week in Real Estate.
“Economic growth remains steady and is bolstering more segments of the economy.”
Sam Khater, Freddie Mac’s chief economist
July 1, 2021
The real estate market appears to be cooling down just a bit after a record breaking spring. Existing home sales declined just slightly in May, but buyers’ interest remains strong as mortgage applications rise again. Meanwhile, many are asking whether lumber pricing will remain high? We take a closer look This Week in Real Estate.
“The market’s outlook is encouraging. “Supply is expected to improve, which will give buyers more options and help tamp down record-high asking prices for existing homes.”
Lawrence Yun, National Association of Realtors, chief economist
June 7, 2021
The seller’s market continues as half of all U.S. homes sell above list price in May. Meanwhile, buyers continue to capitalize on mortgage rates below 3% as we see solid job gains in May. I take a closer look This Week in Real Estate.
“We are seeing some early signs that the market has reached its maximum temperature.”
Daryl Fairweather, Chief Economist, REDFIN
April 19, 2021
The time isn’t the only thing springing forward this spring! Housing production jumped over 19% in March despite rising lumber and material prices. Homebuilder confidence is also on the rise as builders face strong demand from potential buyers. Meanwhile, 5 U.S. housing records were shattered in March. I take a closer look at your top real estate news This Week in Real Estate.
“NAHB’s forecast is for ongoing growth in single-family construction in 2021, albeit at a lower growth rate than realized in 2020.”
NAHB Chief Economist Robert Dietz
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