Top markets for affordable renovated housing inventory

Despite the rapidly deteriorating affordability, there is some hope for homebuyers in the form of renovated homes: properties that have been rehabbed into move-in ready condition after being purchased at auction.

HousingWire Magazine: December 2021/ January 2022

AS WE ENTER A NEW YEAR, let’s look at some of the events that we can look forward to in 2022. But what about what’s next for the housing industry?

Mortgage Tech Virtual Demo Day

Tune in to our live Virtual Demo Day on December 1st at 10am CT to experience demos from the most innovative tech companies in the Servicing, Audit and Post-Close space.

Logan Mohtashami on Omicron and pending home sales

In this episode of HousingWire Daily, Logan Mohtashami discusses how the new COVID variant, Omicron, will impact inflation and whether or not it will send mortgage rates lower.

Mortgage

Black Knight: Home prices rise 1% in April from March

Home prices gain almost 5% from April 2014

U.S. home prices were up 1% for the month, rising 4.9% on a year-over-year basis, according to Black Knight’s latest Home Price Index report, based on April 2015 residential real estate transactions.

This puts national home prices up nearly 3% since the start of the year and up just under 24% since the bottom of the market at the start of 2012.
At $248,000, the national level HPI is now just 7.6% off its June 2006 peak of $268,000.

Washington led gains among the states, seeing 2.0% month-over-month appreciation, while Seattle led metro areas with 2.2% growth from March.
Detroit, Michigan; San Jose, California, and Ft Collins, Colorado all saw home prices rise 2.0% for the month, making them three of the nation’s best performing metro areas.

Among the nation's 20 largest states, four hit new peaks in April:

  • Colorado ($294K)
     
  • New York ($345K)
     
  • Tennessee ($174K)
     
  • Texas ($208K)

Of the nation’s 40 largest metros, 10 hit new peaks: 

  • Austin, TX ($277K)
     
  • Columbus, OH ($181K)
     
  • Dallas, TX ($209K)
     
  • Denver, CO ($314K)
     
  • Honolulu, HI ($526K)
     
  • Houston, TX ($214K)
     
  • Nashville, TN ($213K) 
     
  • San Antonio, TX ($189K)
     
  • San Francisco, CA ($701K)
     
  • San Jose, CA ($847K)

Both Boston, MA and Portland, OR are within 0.75% of reaching new peaks.

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FHFA: Government to back mortgages up to $970,800 in 2022

The FHFA today announced the baseline conforming loan limit for 2022 will be $647,200, an increase of 18%. In high-cost areas, the new ceiling loan limit will be $970,800.

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Zillow: Over half of our iBuying inventory is on the move

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3d rendering of a row of luxury townhouses along a street

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