World News
New Home Sales in U.S. Fall in June
According to data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes fell 6.6 percent in June to a 676,000 seasonally adjusted annual rate.
Foreign Investment in U.S. Homes Dives 27 Percent to $54.4 Billion
Foreign home buyers purchased $54.4 billion worth of U.S. existing homes from April 2020 through March 2021, a 27% decrease from the previous 12-month period and the fourth consecutive annual decline in foreign investment in U.S. residential real estate.
Mortgage Loans in Forbearance Dips to 3.48 Percent in July
The total number of loans now in forbearance decreased by 2 basis points from 3.50% of servicers' portfolio volume in the prior week to 3.48% as of July 18, 2021. According to MBA's estimate, 1.74 million homeowners are in forbearance plans.
Condos Making a Comeback in U.S., Despite Ongoing Covid Issues
National property broker Redfin is reporting this week that the typical condo in the U.S. sold above its asking price in June 2021, for just the second time since at least 2012. Starting in May 2021, this signaled renewed homebuyer competition for condos after a pandemic-fueled slump.
Single-Family Rent Growth Rate Spikes in May
Data company CoreLogic's latest May 2021 Single-Family Rent Index for the U.S. shows a national rent increase of 6.6% year over year, up from a 1.7% year-over-year increase in May 2020.
