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NAR provided raw count of home sales during the pandemic

1 min read

The FINANCIAL — According to the latest release, existing-home sales rose 21% in September from one year earlier while new home sales rose 32%. These headline figures are seasonally adjusted and are reported in the news. To assess the overall trending direction of the economy, nearly all economic data – from GDP and employment to…

Barbara Cominelli named as CEO of JLL Italy

1 min read

The FINANCIAL — JLL (NYSE: JLL) has appointed Barbara Cominelli as new CEO of Italy with effect from December 4, 2020. In her new role, Cominelli will lead and strengthen JLL’s position as a leader in technology and data within the real estate sector. As Chairman of the Board – Senior Advisor, Pierre Marin will…

Freddie Mac Issues 2021 Debt Funding Calendar

1 min read

The FINANCE — Freddie Mac (OTCQB: FMCC) issued its 2021 funding calendar, which provides optional announcement dates for Reference Notes® securities and announcement dates for Reference Bills® securities. The 2021 funding calendar is available on the Debt Securities Auction.  Reference Notes issuances and Reference Bills auctions may vary in size and frequency based on the company’s funding needs…

Housing market shows signs of seasonal cooling even as historic demand continues

3 mins read

The FINANCIAL – The housing market is showing signs of seasonal cooling after a scorching hot summer sales season that stretched uncharacteristically far into fall, according to Zillow’s Weekly Market Report1. A nearly six-month acceleration of year-over-year list price increases stabilized this week at 11.7% above 2019. Buyers are quickly buying up what few homes are…

Low mortgage rates are easing affordability, but down payments are further from reach

3 mins read

The FINANCIAL — Monthly mortgage payments are becoming increasingly affordable for U.S. homeowners as mortgage rates have hit record lows, a new Zillow® analysis shows. But that masks the difficulties would-be buyers face in getting into homes in the first place after extraordinary price growth has pushed prices further above incomes than they’ve been in at least…

Freddie Mac Prices $1 Billion Multifamily K-Deal

1 min read

The FINANCIAL — Freddie Mac (OTCQB: FMCC) has priced a new offering of Structured Pass-Through Certificates (K Certificates), which includes a class of floating rate bonds indexed to the Secured Overnight Financing Rate (SOFR). The approximately $1 billion in K Certificates (K-F90 Certificates) are expected to settle on or about November 5, 2020. The K-F90 Certificates are backed…

Coronavirus is manipulating the housing inventory crisis in unpredictable ways

3 mins read

The FINANCIAL — A historic inventory crisis is driving up home prices to new highs, but understanding why would-be sellers are sitting on the sideline had been guesswork. Now a new Zillow survey[i] is shedding light on how the pandemic is influencing homeowners who are considering selling in the next three years, and the reasons why they’re staying put. …

Mortgage rates continue to fall historic low

1 min read

The FINANCIAL — Freddie Mac (OTCQB: FMCC) released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 2.80 percent, the lowest rate in our survey’s history which dates back to 1971. “Mortgage rates remain very low, providing homeowners who have not already taken advantage of this environment ample opportunity to do…

How to score your dream house

5 mins read

The FINANCIAL — Home shoppers wanting to buy right now might be reading headlines about the housing market that are scaring them away — low inventory, high prices, homes selling at an extremely fast pace across all price ranges. But near-record low mortgage rates are creating a huge opportunity for buyers to get more for their money,…

How A Biden Presidency could change housing sector

5 mins read

The FINANCIAL — What happens if the major polls are right and the upcoming election results in a change of administrations, if Trump is out and Biden is in? How might the housing sector change? One place to look is the 2020 Democratic platform. It includes a suggestion that might significantly impact the real estate market…

Entry-level home sales continue to accelerate

2 mins read

The FINANCIAL — New Zillow® research shows many homes sold just days after hitting the market in September, regardless of price, with the typical1 U.S. home going under contract in just over two weeks. This is one day quicker than August, about 44% faster than this time last year, and significantly faster than even a typical spring selling…

This week’s mortgage rates fell dramatically and reached a new record low

1 min read

The FINANCIAL — Mortgage rates sharply fell this week reaching a new record low. Following the trend of the 10-year Treasury yield, the 30-year fixed-rate mortgage dropped to average 2.81% this week from 2.87% the prior week. During the pandemic, many Gen Zers and Millennials move back to their parents from large metro areas. In…

Office property market to recover from large occupancy loses in 2022

2 mins read

The FINANCIAL — Amid the job losses, business closures, and about 40% to 50% of office workers still working from home, office occupancy suffered its biggest loss yet in the second quarter of 2020, according to NAR’s latest October Commercial Market Insights report. The West and South regions suffered the largest office occupancy losses, led by San…

Vacation homes’ popularity up by 50% from last year

3 mins read

The FINANCIAL — Impacts from the coronavirus pandemic have rippled out to traditional vacation destinations, which are seeing increased interest from homebuyers as shifting priorities and preferences transform where and how people want to live. Page views of for-sale listings are up nearly 50% from a year ago in metro areas typically considered vacation destinations, defined…

photo by realtor.com

The highest number of Latinx households own their homes since Great Recession of 2008

2 mins read

The FINANCIAL — Remarkable growth this half-decade has boosted the share of Latinx households in the U.S. that own their home to its highest since the housing bust. While recent signs are encouraging, a new Zillow® analysis reveals remaining roadblocks on the path to equitable housing.  Latinx Americans are a massive and diverse group, with more than 200…

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