Solving the Post-Close Challenge with Intelligent Automation

Join our upcoming webinar as SoftWorks AI CEO and Avanze CEO explore the advances in tech that allow for greater levels of automation and cost reduction, especially in support of post-close and pre-fund review.

Spruce’s Patrick Burns on innovation in title technology

In the season finale of Housing News season 5, Spruce CEO discusses heightened investor interest in title tech, innovation and fintech adoption.

The 100-years-war over real estate commissions

HousingWire plunges down the rabbit hole of residential real estate commissions, uncovering the past, present and future of this wholly unique part of the economy.

Real estate agents and LOs: the great collaboration

We spoke with Propertybase CEO Vance Loiselle about real estate tech and how the past year has accelerated the need for digital collaboration tools across the entire customer journey.

Politics & MoneyMortgage

Beige Book: Housing continues to expand through the spring

Forecast ahead stays positive

Real estate activity continued to expand in the twelve Federal Reserve Districts since the last housing report, and the forecats ahead looks positive, according to the latest Beige Book.

This comes after April’s report that residential real estate activity was improving steadily in most districts.

Across the nation, homes sales recorded modest to moderate gains, except the Minneapolis district, which strongly rose on a year-over-year basis.

Philadelphia was also an exception since builders reported mixed conditions for new home sales and brokers noted slightly slower existing-home sales in April on a year-over-year basis.

Sales of low- and medium-priced homes outpaced sales of higher-priced homes in the Kansas City district, while the Cleveland district said most new-home contracts were in the move-up price points.

The Dallas district noted declining sales in Houston for mid- priced new homes. Tight inventories restrained sales growth in the Boston and New York districts, although pending sales were up in the Boston district, suggesting that closings would rise in coming months.

Home prices rose across much of the country, which contacts in some districts attributed to low inventories relative to demand.

On the other side, residential construction was flat to up during the reporting period, although a few districts reported a slower pace of homebuilding activity due to financing and capacity constraints and severe weather.

Residential construction activity increased slightly in the Chicago district, where contacts expressed concern that the current strong pace of apartment construction was unsustainable.

Mortgage lending was mixed across the nation, with residential real estate lending growing in the San Francisco District. One contact reported increased hiring of loan originators, processors and underwriters to meet growing mortgage demand.

The Richmond, Chicago, St. Louis, Kansas City and Dallas districts posted an uptick in residential mortgage loans, and contacts in the Cleveland District said the increase in residential mortgage demand was largely for new home purchases. 

Most Popular Articles

Biden’s $15K first-time homebuyer tax credit now a bill

President Joe Biden called for a $15,000 tax credit for first-time homebuyers, and Congress has answered his call with a bill.

Apr 26, 2021 By

Latest Articles

More renters and homeowners are making payments

Less than 5 million households did not make their rent or mortgage payments in March 2021, the lowest number since the onset of the pandemic.

May 06, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please