The WPJ

Irvine

U.S. Multifamily Construction Starts to Decline in 2024

According to the National Association of Home Builders, Multifamily starts in the U.S. are predicted to decline in 2024. Meanwhile, the remodeling sector remains on solid ground and will hold steady this year.

California Home Sales Uptick 6 Percent Annually in January

Based on new data from the California Association of Realtors, the State of California existing home sales rebounded in January 2024 to the highest level in six months as mortgage rates pulled back sharply at the end of 2023.

U.S. Home Equity Continues to Dip in Q4

46.1 percent of mortgaged residential properties in the United States were considered equity-rich in the fourth quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than half of their estimated market values.

U.S. Foreclosure Activity Increased 10 Percent in 2023

Based on ATTOM's Year-End 2023 U.S. Foreclosure Market Report, U.S. foreclosure filings were reported on 357,062 U.S. properties in 2023, up 10 percent from 2022 and up 136 percent from 2021 but down 28 percent from 2019, before the pandemic shook up the market.

Irvine Property News












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