Tag Archives: Purchase applications

According to Redfin's latest Housing Market Update, inclement weather that froze parts of the U.S. slowed overall homebuying activity recently. Conversely, agents in warmer regions report that buyers and sellers remain active, despite mortgage rates remaining in the high-6% range.

According to the RE/MAX National Housing Report, home sales dropped year-over-year in December, but experts project that with mortgage rates continuing their downward trend, homebuyers that have been priced out or pushed to the sidelines may begin to creep back into the market.

As Americans continue, "grappling with limited purchasing power," according to Redfin Senior Economist Sheharyar Bokhari, housing supply remained below pre-pandemic levels in December, preventing home prices from dropping further as buyers continue to compete for a limited supply of homes for sale.

A prominent trend in renowned U.S. metros like Washington, D.C., New York, and Dallas, a new report revealed the conversion of office buildings into living spaces is projected to surge to a new record high in 2024, having more than quadrupled in the past four years.

Like the generation that precedes them, members of Gen Z are concerned about affordability, according to a new Point2 study, which revealed the cities and regions where the youngest Americans have the best chance of achieving homeownership.

Mortgage applications climbed in November, but will home sales accelerate throughout the end of the year? Mark Fleming, Chief Economist at First American, details the state of existing-home sales and more market predictions.

According to the November 2023 ICE Mortgage Monitor Report, purchase-mortgage applications declined nearly 50% below pre-pandemic levels, with annual home price growth experiencing the weakest monthly gain since January. Read on to learn how sky-high mortgage rates continue to make life difficult for would-be homebuyers.

Purchase demand remained strong in August for newly constructed homes, increasing 20.6% compared to a year ago, according to the MBA Builder Application Survey, while the average loan size for new homes increased to $398,092.

ATTOM's latest Residential Property Mortgage Origination Report showed purchase lending led the way in Q2, spiking nearly 30%, while overall refinance and home equity activity also rose after eight straight quarterly declines.

The overall lack of new listings nationwide has pushed the total number of homes on the market down 5% year-over-year, reaching their lowest level of any early June on record, according to a new housing market update from Redfin.