Adam Constantine on MLK Jr.’s impact on housing equality

During the interview, Constantine explains why the industry needs to focus on evoking intentional change rather than launching lackluster initiatives.

Navigating capacity concerns amidst record-high volumes

High loan volumes continues to loom large in the new year, making the “one-stop-shop” approach to the servicing and lending process even more appealing.

Amid record-high origination volumes, mortgage fraud risk is down

CoreLogic's recently released Mortgage Fraud Report is the industry standard for nationwide fraud monitoring and analysis. Read the findings here.

How student loan debt impact homeownership

Student loan expert Catalina Kaiyoorawongs shares her practical and tangible advice for people who feel overwhelmed by their student loan debt.

MortgageReal Estate

Despite odds, existing-home sales on track to best year in a decade

NAR forecast for 2016

The positive recent news for existing-home sales is predicted to last through the whole year, closing out 2016 as the best year in a decade, according to an economic forecast forum at the 2016 Realtors Legislative Meetings & Trade Expo.

Lawrence Yun, chief economist of the National Association of Realtors, forecasts existing sales to finish 2016 at a pace of around 5.40 million – the best year since 2006 (6.48 million).

“The housing market continues to expand at a moderate pace in spite of the fact that home prices are rising too fast in some areas because of insufficient supply fueled by the grossly inadequate number of new single-family homes being constructed,” said Yun.

“The good news is that pending sales in recent months have remained stable and should support a modest gain in home sales heading into the summer.” 

The latest pending-home sales report stated that sales managed to increase in March for the second consecutive month, reaching its highest level in almost a year.

At the time, Yun said that the month’s pending sales increase signaled a solid beginning to the spring buying season.

After accelerating to 6.8% in 2015, Yun predicts that the national median existing-home price will fall between 4% and 5% this year.

As it stands, potential homebuyers are still basking in historically low interest rates, with mortgage rates dropping to their lowest point in three years.

Most Popular Articles

Prepare for the rise in mortgage rates

Economists offer their takes on how high mortgage rates will climb, how lenders will respond and what impact this will have on the housing market. HW+ Premium Content

Jan 18, 2021 By

Latest Articles

2020 ends with 3.4 million loans in delinquency

The final delinquency tally for December is in, with data revealing that by end of 2020, 1.54 million more mortgages were reported delinquent.

Jan 22, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please