Minority homebuilding businesses grew noticeably in the years after the Great Financial Crisis, but their share still lags when compared to the total population of people of color in the U.S., new analysis finds. The percentage of newly established minority-owned homebuilders more than doubled between pre-crisis 2007 and 2022 from 6% to 14%, according to […]
Growth of minority builders collides with policy rollback Read More »
A borrower today needs an annual income of just over $90,000 to comfortably afford what is now a nationwide record-high median priced home, according to Attom. That price rose to $375,000 in the third quarter, the property analytics firm said Thursday. Attom based affordability on what it takes to achieve a front-end debt-to-income ratio of
Median priced home requires an income close to six figures Read More »
When it comes to the mortgage impact of Compass’ purchase of Anywhere Real Estate, Rate comes out as a big winner thanks to the joint ventures it has with both companies. The Rate/Anywhere JV, Guaranteed Rate Affinity, was formed in 2017, when what was then known as Realogy teamed up with the lender after ending
Rate gets mortgage benefit of Compass-Anywhere deal Read More »
Housing starts in the U.S. fell last month to the lowest since May, as bloated home inventory slowed builders’ appetites to boost production. New residential construction decreased 8.5% last month to an annualized rate of 1.31 million homes, government data released Wednesday showed. The median forecast in a Bloomberg survey of economist was for 1.37
Housing starts fall to lowest since May in broad decline Read More »
Angus Mordant/Bloomberg Mortgage applications for new-home purchases remain up on a yearly basis, but August marked a notable fall from the summer’s first two months, new industry data showed. New-home purchase activity rose 1% compared with last year, but applications decreased by 6% from July, according to the Mortgage Bankers Association’s Builder Application Survey. August’s
New-home mortgage applications slow after two-month surge Read More »
Sentiment among U.S. homebuilders remained at one of its lowest levels in years this month, underscoring the deep freeze in the housing market despite a recent drop in mortgage rates. An index of market conditions from the National Association of Home Builders and Wells Fargo was unchanged at 32 in September, similar to economists’ estimates
Homebuilder sentiment stays low despite mortgage-rate drop Read More »
Tariff-influenced lumber price volatility this year has markets trying to read the tea leaves to determine what the implications might be for housing and the economy at large. Since reaching a three-year high in early August, lumber futures declined by 25% to trade at approximately $525 this week, data from the Chicago Mercantile Exchange showed.
Lumber prices swing as tariff fears roil markets Read More »
The housing market could see a bump this fall akin to the traditional spring homebuying season. The steady mortgage rate decline and an atypical summer for home price growth could bring buyers off the sidelines, property analytics firm Cotality suggested in a recent report. Rates today are at their lowest point since last September, when
Buyers may flood market this fall. Here’s why Read More »
Residential construction spending saw its first monthly increase in six months this summer, as builders navigated their way through housing market and tariff-related challenges. While construction spending rose month over month in June, it still came in well under levels of a year ago, the National Association of Home Builders said in its analysis of
Home construction spending rises for first time in months Read More »
Homebuilder stocks are headed for their best monthly performance in over a year as the housing market increasingly shows signs of life. And Wall Street pros say the rally can keep going regardless of what the Federal Reserve decides to do with interest rates. READ MORE: Homebuilders encounter credit, supply cost headwinds “What we need
Real estate rebound sends builder stocks to best month in a year Read More »