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News Updates

HOME EQUITY GAINS LEVEL OFF AS U.S. HOUSING MARKET COOLS DOWN DURING THIRD QUARTER OF 2024

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 ATTOM, a leading curator of land, property data, and real estate analytics, released its third quarter 2024 U.S. Home Equity & Underwater Report, which shows that 48.3 percent of mortgaged residential properties in the United States were considered equity-rich in the third quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than half of their estimated market values. That level was down from a recent peak

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U.S. COMMERCIAL FORECLOSURES SPIKE IN SEPTEMBER 2024 WITH SIGNIFICANT YEAR-OVER-YEAR INCREASE

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Commercial Foreclosures Increased 15 Percent from Last Month and 48 Percent from Last Year; States with the Most Commercial Foreclosures in September 2024 Included California, New York, and Florida ATTOM, a leading curator of land, property data, and real estate analytics, released an updated monthly report on U.S. Commercial Foreclosures. The report reveals that commercial foreclosures remain elevated and are still considerably higher than pre-pandemic figures. Starting in June 2023, foreclosure numbers saw a sharp increase, peaking at

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LESSEN JOINS FORCES WITH PROPERTY MELD THROUGH VENDOR NEXUS PROGRAM, VALIDATING INDUSTRY’S PUSH FORWARD TO STRENGTHEN PROPERTY MAINTENANCE OPERATIONS

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Property Meld, the leading property maintenance operations platform, proudly announces a groundbreaking partnership with Lessen, the largest vendor provider in the nation, with a market value of $2 billion. As part of Property Meld’s revolutionary Vendor Nexus program, this partnership is set to drive even greater efficiency and value for property managers across the U.S. “Lessen’s partnership with Property Meld continues to show how Vendor Management and Sourcing can be solved

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Pending Home Sales Jumped 2.5% in September, the Biggest Monthly Increase in Over a Year and a Half

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Redfin reports that existing home sales, which are a lagging indicator, fell to a seasonally adjusted annual rate of 4,023,067. That’s the lowest level on record aside from the start of the pandemic. Pending home sales jumped 2.5% month over month in September on a seasonally adjusted basis, the largest increase since January 2023, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. They rose 3.1% year over

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Builders continue shift to condos and townhomes amidst affordability crisis

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Markets with faster-rising home values have seen a greater surge in permitting, on average America’s housing stock continues to grow faster than it did before the pandemic-induced housing frenzy, as builders race to fill a shortage of 4.5 million homes. The latest analysis from Zillow® shows roughly 1 million single-family homes were completed in 2023, the second-highest annual total since before the global financial crisis. That’s about 11% more homes than were completed

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U.S. Economic Footing Firmer Than Previously Thought, Projected to Expand 2.3 Percent in 2024

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Home Price Growth Expected to Decelerate in 2025 as Affordability Remains Stretched Following annual revisions to the national accounts and an improvement in payroll employment growth in both August and September, the economy now appears to be on firmer footing than previously thought, according to the October 2024 commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. While the ESR Group still expects economic growth to slow from the robust 3.2

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