Veros Real Estate Solutions, Santa Ana, Calif., released its Q4-2020 VeroFORECAST data, projecting home price appreciation will increase significantly during the next 12 months in the 100 most-populated markets. The overall average forecast is 5.9% by Q4 2021, an additional increase of 0.9 percentage points compared to 5% just a quarter ago. This level of change from one…

Read More

The end of 2020 won’t necessarily mean saying goodbye to the favorable 2% mortgage rates that hit historically low levels 16 times over the past 12 months. In fact, most industry observers believe rates will remain at the same low levels in 2021 as the Federal Reserve uses low rates as a weapon to combat the economic effects of the COVID-19 pandemic. This…

Read More

The national median home price rose 14% year over year to $335,519 in November, according to Redfin, Seattle. And in many housing market hotspots, bidding wars persist for more than half of home sales. The Redfin report (https://www.redfin.com/news/november-housing-market-update-14-pct/) said the huge jump in home prices marked the second-largest annual increase since at least 2012, bested…

Read More

Historically low interest rates, change in home preferences, flexible work schedules and increased housing affordability triggered substantial rebound in first-time homebuyer market in the third quarter, said Genworth Mortgage Insurance, Richmond, Va. The company’s quarterly First-Time Homebuyer Market Report (https://miblog.genworth.com/first-time-homebuyer-market-report) also said private mortgage insurance financed more first-time homebuyers than any other low-down payment mortgage…

Read More

The National Association of Home Builders‘ Home Building Geography Index found that during the third quarter, the exodus from big cities to the suburbs and less expensive areas increased as people continue to work remotely. According to the HBGI, suburbs of medium-sized cities posted the greatest single-family gains in Q3, as there was a 15% growth rate over the last…

Read More