REI INK

News Updates

Redfin Reports Demand Declines Ease as Mortgage Rates Steady Around 7%

  • by
  • Comment Off
  • 342 views

A few measures of homebuying demand stabilized in the last week of October, a month that saw one-third fewer pending sales than a year earlier One-third fewer homes went under contract in October than last year, the largest decline since at least 2015, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Several pandemic boomtowns including Las Vegas, Miami and Phoenix posted declines of around 50%. Nationwide, a

Read More

ZOMBIE PROPERTY COUNT TICKS UPWARD AGAIN ACROSS U.S. IN FOURTH QUARTER BUT REMAINS TINY PORTION OF HOUSING MARKET

  • by
  • Comment Off
  • 369 views

Vacant Homes in Foreclosure Show Third Straight Quarterly Increase; Yet Zombie Properties Still Represent Just One of Every 13,000 Residential Properties Nationwide; Counts Continue Growing Since Lifting of Foreclosure Moratorium Last Year ATTOM, a leading curator of real estate data nationwide for land and property data, released its fourth-quarter 2022 Vacant Property and Zombie Foreclosure Report showing that 1.3 million (1,264,241) residential properties in the United States sit vacant. That figure represents 1.26 percent, or one

Read More

98 of the 100 Largest U.S. Markets Saw Home Prices Decline in September From Their 2022 Peaks

  • by
  • Comment Off
  • 389 views

Knock Buyer-Seller Market Index shows that 15 markets saw home prices fall by 10% or more from their highs set this spring, pushing more markets into buyer-market territory The cooling trend that is engulfing the U.S. housing market is expected to continue with more markets seeing home prices decline by this time next year as the shift to a buyer’s market continues to take hold, according to the Knock Buyer-Seller Market Index .

Read More

Recent Renters Reveal Five Winning Strategies to Land a Place in Today’s Hot Market

  • by
  • Comment Off
  • 603 views

New Zillow survey finds being flexible about move-in date and offering to pay more up front are the top strategies to land a rental in an ultracompetitive market Typical monthly rents are the highest they’ve ever been ($2,084 as of September), yet the rising cost of buying a home is keeping more and more people in the rental market. Safe to say, it’s a stressful time to be a renter. In a

Read More

Q3 National Rent Analysis Reveals Double-Digit Increases

  • by
  • Comment Off
  • 550 views

75% of cities saw double-digit rent increases for SFRs Rentometer has released their Q3 2022 rent statistics for three-bedroom (3-BR) houses that are single-family rentals (SFRs). Rentometer collects data for all residential asset classes, but this report is focused on SFRs because they are one of, if not the most, active residential rental asset classes today. Rentometer’s president, Mike Lapsley, commented that “we have increased our coverage and monitoring of the

Read More

WORD OF THE DAY: Apothegm

  • by
  • Comment Off
  • 1,015 views

[AP-ə-them] Part of speech: noun Origin: Greek, 16th century Definition: A short, witty, instructive saying; A terse or brusque instruction Examples of apothegm in a sentence “My grandmother loved to give advice with an apothegm, such as, ‘An apple a day keeps the doctor away.’” “An apothegm may be clever and easy to remember, but it doesn’t always address a full problem.” About Apothegm An apothegm is a short and sweet phrase that’s supposed to

Read More