Existing-home sales drop even as prices hit all-time high: NAR
Low levels of for-sale inventory, high mortgage rates, and record-high home prices continue to hamper existing-home sales.According to the May 2024 existing-home sales report from the National Association of Realtors (NAR), sales volume fell 2.8% year over year to an annualized rate of 4.11 million.
Read MoreAre housing permits showing recession risk?
On a recent HousingWire Daily podcast, I explored the question of whether construction labor was finally showing a recession risk. Today’s housing starts data has further solidified this trend, which we’ve been tracking for several months: construction labor is at risk, serving as a potent leading i
Read MoreFederal regulators approve final rule for AVM usage
On Thursday, two U.S. regulators — the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp. (FDIC) — announced their approval of a final rule imposing quality control standards for automated valuation models (AVMs) used by mortgage originators and secondary market
Read MoreFinance of America takes action in move to raise stock price
Finance of America (FOA), the leading U.S. reverse mortgage lender, has received shareholder approval upon recommendation of its board to perform a reverse stock split at a 10-to-1 ratio in a move designed to boost the company’s stock price. This is according to a company filing with the Securities
Read More
Categories
Recent Posts
