REI INK

Housing Market Activity Lost Steam in January as Mortgage Rates Stopped Falling and Prices Kept Rising

  • by
  • Comment Off
  • 231 views

Redfin reports new listings dropped for the first time since June and pending sales growth slowed; Stagnating mortgage rates and the biggest home-price jump in over a year caused the market to lose momentum New listings dropped 1.2% month over month on a seasonally adjusted basis, the first decline since June, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. They were up 2.7% from a year earlier,

Read More

OPPORTUNITY ZONE HOUSING MARKETS STILL TRACKING ALONG WITH BROADER U.S. HOUSING MARKET

  • by
  • Comment Off
  • 209 views

Median Home Values Decrease During Fourth Quarter of 2023 in Just Over Half of Opportunity Zones Targeted for Economic Redevelopment Around U.S.;  Price-Decline Trends Inside Zones Again Follow Closely With National Market Patterns ATTOM, a leading curator of land, property, and real estate data, released its fourth-quarter 2023 report analyzing qualified low-income Opportunity Zones targeted by Congress for economic redevelopment in the Tax Cuts and Jobs Act of 2017. In this report, ATTOM looked

Read More

Digital Fraud in the Real Estate Industry

  • by
  • Comment Off
  • 328 views

Property Shield Helps to Remove Fraudulent Account In today’s digital age, the real estate sector is not immune to the sophisticated schemes that have emerged alongside technological advancements. One notable example was the exposure of a fraudulent Instagram account named ‘1timepaymenthomes.’ This account falsely promised the ability to rent a home through a single payment, misleading individuals into believing they could bypass the conventional, legal routes to renting a home.

Read More

U.S. FORECLOSURE ACTIVITY SEES NOTABLE INCREASE IN JANUARY 2024

  • by
  • Comment Off
  • 527 views

Completed Foreclosures (REOs) Increase Monthly in 19 States;  Foreclosure Starts Up Monthly and Annually Nationwide ATTOM, a leading curator of land, property, and real estate data, released its January 2024 U.S. Foreclosure Market Report, which shows there were a total of 33,270 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions – up 5 percent from a year ago, and up 10 percent from the prior month. “We observed a slight

Read More

COST OF HOME REPAIRS INCREASES BY 5.5% FROM Q4 2022

  • by
  • Comment Off
  • 405 views

Price increases slowing nationally after surging due to supply chain disruption and increased demand during COVID-19 pandemic The cost of home repairs and remodeling in the fourth quarter of 2023 continued to increase, rising by 0.54% from the prior quarter and just over 5.5% from the fourth quarter of 2022 according to the Q4 2023 Verisk Remodel Index. Costs set new highs for the past decade, rising over 65% from

Read More

U.S. Asking Rents Flatten After Pandemic Rollercoaster Ride

  • by
  • Comment Off
  • 285 views

Rents haven’t fluctuated much over the past year, rising 1% in January–a far cry from double-digit growth during the pandemic. The median U.S. asking rent rose 1.1% year over year to $1,964 in January, the largest annual increase since March 2023, and was unchanged from a month earlier, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. While rents ticked up from a year earlier, the bigger picture

Read More