National News

Mortgage applications continue falling in latest weekly survey 

The decrease comes as interest rates continue to climb, according to the Mortgage Bankers Association. 

Two more years until inventory bounces back, experts say

Housing inventory should reach pre-pandemic levels by the end of 2024, according to the results of Zillow’s latest Home Price Expectations Survey. More than 100 market experts and economists weighed in to predict upcoming trends.

Pending-home sales down for fourth month in a row 

“Buyer demand is still intense, but it’s as simple as ‘one cannot buy what is not for sale.” — National Association of REALTORS® chief economist Lawrence Yun  

New-home sales fall again in February 

Affordability and supply-chain issues continued to weigh on the sales of new single-family residences.

Expect more growth in the home renovation industry, Houzz reports

Houzz, the home remodeling and design platform, has released its annual U.S. State of the Industry report which reveals a four-year high in revenue growth.

Existing-home sales swing back to negative territory in February 

The median existing-home price for all housing types in February was $357,300, up 15% from a year before, as median prices rose in each region.    

New-home construction picks up in February  

“More groundbreaking is welcome news for a supply-starved housing market.” — First American deputy chief economist Odeta Kushi 

Builder confidence falls on supply-chain issues, construction costs 

The measurement of six-month sales expectations among homebuilders took an especially negative turn in March, according to the National Association of Home Builders. 

Mortgage applications slide with rate hike and more Ukraine uncertainty ahead

“Investors are weighing the impacts of rapidly increasing inflation in the U.S. and many other parts of the world against the potential for a slowdown in economic growth due to a renewed bout of supply-chain constraints.” — MBA associate vice president of economic and industry forecasting Joel Kan

First American Financial names Hurst its first chief innovation officer

The company has named Paul Hurst its chief innovation officer, a new role that reports directly to CEO Ken DeGiorgio.

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