The number of home buyers applying for applications to buy new homes in March was up 11 percent from one year ago, according to new numbers from the Mortgage Bankers Association. From the month before, demand for new homes was up 26 percent. Joel Kan, MBA’s vice president and deputy chief economist, says the gains are due to a combination of seasonal patterns and growing inventory. “March kicks off the start of the spring home-buying season and does typically see an increase in purchase activity,” Kan said. “Last … [Read more...]

Some considerations take priority over others when shopping for a home to buy. Things like the number of bathrooms or the amount of kitchen storage are far more important to the way you live than the architectural style of your home, for example. But, when potential home buyers look at online listings, the things that catch their eye aren’t usually the details about laundry rooms, storage, and mechanics. It’s the style. In fact, a recent analysis of online home shoppers found that homes with classic architecture … [Read more...]

The National Association of Home Builders’ Housing Market Index measures how confident builders are in the market for newly built, single-family homes. The index is considered an important metric because builders need to know what to build, and where, if they hope to be successful. In April, the NAHB’s survey found builders less confident than the month before – and generally uncertain due to rising oil costs. Robert Dietz, NAHB’s chief economist, says higher costs put builders in a challenging spot. “With oil … [Read more...]

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell last week across most loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. The declines led to an increase in loan demand, as refinance activity rose 5 percent from the week before and pushed overall application demand 1.8 percent higher week-over-week. Joel Kan, MBA’s vice president and … [Read more...]

Home sellers don’t have it quite as good as they did a few years back. Buyers have regained some negotiating power, especially in areas where inventory has improved. But while home buyers are feeling more assured this spring – and less rushed – they should also know sellers are feeling confident too. In fact, according to a new survey from the National Association of Realtors’ consumer website, 83 percent of potential sellers expect to get their asking price or more. Similarly, 74 percent say now’s a good time to … [Read more...]

New numbers from the National Association of Realtors show sales of previously owned homes fell across all regions in March, dropping 3.6 percent from the month before. The slowdown coincided with a bump in mortgage rates but also the beginning of the spring sales season. Dr. Lawrence Yun, NAR’s chief economist, says the number of homes for sale is also a factor. “The inventory-to-sales ratio, or supply-to-demand ratio, is below historical norms,” Yun said. “An additional 300,000 to 500,000 homes for sale would … [Read more...]

A savvy home buyer knows to look beyond the price of the house and potential mortgage rate when calculating the actual cost of homeownership. Other factors like insurance, homeowners’ association fees, and property tax also play a role in determining how affordable – or unaffordable – a home actually is for your budget. That’s why ATTOM Data Solutions recently took a look at one of the major – and often overlooked – costs of homeownership: property taxes. According to its data, ATTOM found the average single-family … [Read more...]

In 2026, the question of whether the housing market favors home buyers or sellers isn’t as simple as it used to be. A few years back, housing markets across the country were all experiencing the same phenomenon. Inventory was historically low, prices were rising quickly, and home sellers were clearly in control – with most getting multiple offers from interested buyers trying to outbid each other. These days, it depends more on where you look. There are some areas of the country that could still be considered … [Read more...]

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell last week across most loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 5/1 ARMs. Joel Kan, MBA’s vice president and deputy chief economist, says, despite the improvement, last month’s rate bump still has buyers feeling uncertain. “Purchase applications were 7-percent lower on a year-over-year basis, the first … [Read more...]

The housing market isn’t just a series of data points. It’s also a reflection of our lives and the way we live them. For example, a recent analysis found there’s a mismatch between the availability of larger homes and the buyers who need them. Currently, older Americans own more large homes than millennial families do. In fact, empty nesters own nearly twice the number of three-bedroom homes than younger Americans with children. That means buyers with kids may have more difficulty finding a home that fits their … [Read more...]