Irvine
Real Estate News

Mortgage Refi's Comprise Over Half of All U.S. Home Loans Made in Q1

Mortgage Refi's Comprise Over Half of All U.S. Home Loans Made in Q1

1.07 million refinance mortgages secured by residential property (1 to 4 units) were originated in the first quarter of 2020 in the United States. That figure was down 16 percent from the fourth quarter of 2019 but up 87 percent from the first quarter of 2019. Read More »


NAIOP's Commercial Real Estate Industry Sentiment Index Dips to Record Low

NAIOP's Commercial Real Estate Industry Sentiment Index Dips to Record Low

NAIOP reports this week that it's NAIOP CRE Sentiment Index has dropped below 50 for the first time since its inception. Read More »

Economic Losses from COVID-19 Further Makes Housing Affordability an Issue

Economic Losses from COVID-19 Further Makes Housing Affordability an Issue

Surging job losses in March stemming from the COVID-19 pandemic contributed to a decline in U.S. median income and housing affordability in the first quarter of 2020. Read More »

U.S. Mortgages in Forbearance Increase to 7.9 Percent in Early May

U.S. Mortgages in Forbearance Increase to 7.9 Percent in Early May

U.S. loans now in forbearance increased from 7.54% of servicers' portfolio volume in the prior week to 7.91% as of May 3, 2020, almost 4 million homeowners are now in forbearance plans. Read More »


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Global Property Spotlight

Golfito Marina Village & Resort - (Costa Rica)

Golfito Marina Village & Resort - (Costa Rica)

Costa Rica's Newest Luxury Superyacht Destination Now Under Construction Read More »

Last Updated May 22, 2020 8:00 AM ET

Irvine Property News

The combined estimated amount of loans secured by those properties was 50 percent or less of their estimated market value.

Based on CoreLogic's latest Home Price Index (HPI) for March 2020, U.S. home prices increased nationally by 4.5% from March 2019.

Sales of newly built, single-family homes fell 15.4 percent to a seasonally adjusted annual rate of 627,000 units in March, coming off a downward revision in February 2020. The March rate is 9.5 percent lower than the March 2019 pace.

3.5% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in January 2020, representing a 0.5 percentage point decline in the overall delinquency rate compared with January 2019.

Property tax analysis of more than 86 million U.S. single family homes in 2019 shows that property taxes levied on single family homes in 2019 totaled $306.4 billion

Home prices increased nationally by 4.1% from February 2019. On a month-over-month basis, prices increased by 0.6% in February 2020.

Liquidity to mortgage servicers needing additional capacity to support homeowners and renters impacted by COVID-19.

There were a total of 48,004 U.S. properties with foreclosure filings, default notices, scheduled auctions or bank repossessions.

The median U.S. home price in the first quarter of 2020 was unaffordable for average wage earners in 319 of 483, or 66 percent of the U.S. counties analyzed in the report.

The average annual gross rental yield (annualized gross rent income divided by median purchase price of single-family homes) among the 389 counties is 8.4 percent for 2020

U.S. homeowners with mortgages have seen their equity increase by 5.4% year over year, representing a gain of nearly $489 billion since the fourth quarter of 2018.

According to ATTOM Data Solutions' U.S. Home Flipping Report, 245,864 single-family homes and condos in the United States were flipped in 2019, up 2 percent from 2018 to the highest point since 2006.

U.S. home price growth slowed considerably throughout most of 2019, with some pick-up in price in growth toward the end of the year.

CoreLogic's latest Single-Family Rent Index (SFRI) shows a national rent increase of 2.9% year over year in December 2019, down from 3% in December 2018.

U.S. home prices rose both year over year and month over month. Home prices increased nationally by 4% from December 2018. On a month-over-month basis, prices increased by 0.3% in December 2019.

Tornadoes, hurricanes, floods and wildfires typically bring an increase in mortgage delinquency rates across the U.S., taking 12 or more months before normalizing to pre-disaster rates.

U.S. apartment production has returned to pre-recession levels and vacancies are low, but more new apartment homes are needed. Young people are eager to move out of their parents' homes, and growing families want to move into a larger home or apartment.

CoreLogic's latest Single-Family Rent Index (SFRI) shows a national rent increase of 3% year over year in November 2019, unchanged annually.


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