Driven by Coronavirus Remote Working Trends. A new Zillow survey suggests housing preferences could be upended in a post-pandemic America, leading to major questions about the future of dense metro cores.
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.
Buyer demand and healthy housing-market dynamics will prevent U.S. home prices from dropping more than 2 to 3 percent in the wake of the coronavirus.
The total number of U.S. mortgage loans now in forbearance increased from 6.99% of servicers' portfolio volume in the prior week to 7.54% as of April 26, 2020.
Property broker Redfin is reporting between mid-March and mid-April 2020, the new supply of homes for sale over $1 million fell 29 points from the year prior.
Every industry is feeling the steep downturn.
Total U.S. housing starts decreased 22.3 percent in March 2020 from a downwardly revised February reading to a seasonally adjusted annual rate of 1.22 million units.
According to the latest National Association of Home Builders / Wells Fargo Housing Market Index (HMI) released this week, U.S. builder confidence in the market for newly-built single-family homes plunged 42 points in April to an HIMI reading of 30 points.
Liquidity to mortgage servicers needing additional capacity to support homeowners and renters impacted by COVID-19.
According to new data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending March 27, 2020, U.S. mortgage applications increased 15.3 percent from one week earlier.
Zillow research is now reporting that American renters who work in food and retail industries can find themselves spending 40% of their annual income on housing costs if they are unable to work for two months
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.
Sales of newly built, single-family homes fell 4.4 percent to a seasonally adjusted annual rate of 765,000 units in February 2020, coming off a sharp upward revision in January 2020.
According to the National Association of Realtors, U.S. existing-home sales climbed substantially in February 2020 after a slight decline in January.
According to the latest quarterly National Association of Home Builders' Home Building Geography Index, nearly two-thirds of multifamily construction in the fourth quarter of 2019 occurred in "blue counties" where Hillary Clinton garnered the most votes in the 2016 election.
According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 3.45 percent in late February 2019.