Saint Petersburg Real Estate News
Saint Petersburg
Higher Interest Rates Further Hobble New Home Sales in the U.S.
The National Association of Home Builders reported this past week that rising U.S. mortgage rates reaching 7% along with declining builder sentiment stemming from stubbornly high construction costs and weakening consumer demand pushed new-home sales down at a double-digit rate in September 2022.
U.S. Mortgage Applications Dip Again in Mid-October
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.
U.S. Mortgage Originations to Decline 9 Percent in 2023 to $2.05 Trillion
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.
$8.1 Billion of Florida Mortgage Transactions at Risk Post Hurricane Ian
Based on new research by CoreLogic, more than 22,282 pending mortgage transactions currently in progress in Florida's 20 affected counties are in jeopardy from storm surge and flooding caused by the recent hurricane, Ian. Nearly 14,000 are purchase transactions where the state's average home sales price is $452,000 (as of June 2022).
Saint Petersburg Property News
Growing Share of U.S. Listings Going Stale As Multiple Housing Markets Cool
Posted on August 10, 2022
