Based on new data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending October 21, 2022, U.S. mortgage applications decreased 1.7 percent from one week earlier.
Based on new projections from the Mortgage Bankers Association, total U.S. mortgage origination volume is expected to decline to $2.05 trillion in 2023 from the $2.26 trillion expected in 2022. Purchase originations are forecast to decrease 3 percent to $1.53 trillion next year, while refinance volume is anticipated to decline by 24 percent to $513 billion.
Sales of luxury U.S. homes fell 28.1% year over year during the three months ending Aug. 31, 2022. That's the biggest decline since at least 2012, eclipsing the 23.2% plunge that occurred when the onset of the coronavirus pandemic brought the housing market to a near standstill roughly two years ago.
According to a new report from CBRE - mega warehouses are in style - in a big way in 2022. Warehouse users signed leases for 37 facilities of 1 million sq. ft. or larger in the U.S. in the first half of this year, up from 24 in the first half of 2021.
According to national property broker Redfin, the share of U.S. homes that were listed for 30 days or longer without going under contract increased 12.5% in July 2022 from a year earlier.
Posted on August 10, 2022
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