REI INK

News Updates

COST OF HOME REPAIRS INCREASES BY 6.6% FROM Q3 2022

  • by
  • Comment Off
  • 548 views

Prices rise nationally by more than 64% over the past decade The cost of home repairs and remodeling in the third quarter of 2023 jumped by 6.6% nationally compared to a year earlier according to the new Verisk Remodel Index. Costs rose 1.7% from the second quarter of 2023 and are at the highest levels in the past decade, rising over 64% from the first quarter of 2013. The Verisk

Read More

HOME-MORTGAGE LENDING DECLINES AGAIN ACROSS U.S. DURING THIRD QUARTER AS MORTGAGE RATES CLIMB

  • by
  • Comment Off
  • 361 views

Residential Loans Drop 3 Percent After Brief Second-Quarter Surge; Purchase and Home-Equity Lending Both Down 7 Percent Following Earlier Gains; But Refinance Activity Rises for Second Straight Quarter ATTOM, a leading curator of land, property, and real estate data, released its third-quarter 2023 U.S. Residential Property Mortgage Origination Report, which shows that 1.54 million mortgages secured by residential property (1 to 4 units) were issued in the United States during the

Read More

Buyers Have a Few Things to Be Thankful For This Week, With Listings Rising and Mortgage Rates Falling

  • by
  • Comment Off
  • 187 views

The median monthly mortgage payment has fallen more than $100 over the last month as rates dropped from 8% to 7.3%. Buyers are acting on the good news: Mortgage-purchase applications increased 4% this week to their highest level in six weeks. This week has brought some hopeful news for homebuyers, with new listings posting their biggest year-over-year increase since 2021, according to a new report from Redfin (redfin.com), the technology-powered real estate

Read More

United States Real Estate Appraisal Market Insights and Forecast (2023-2028)

  • by
  • Comment Off
  • 786 views

Increasing Adoption of Remote Online Notarization and Digital Real Estate Transactions The “US Real Estate Appraisal Market: Insights and Forecast (2023-2028)” report has been added to ResearchAndMarkets.com’s offering. The US real estate evaluation market has seen significant changes in recent years, as technology has become increasingly important in the appraisal process. Today, many appraisers obtain and assess property information using digital techniques such as aerial imagery, 3D modelling, and data analytics, allowing them to

Read More

Opportunity Zone Housing Markets Continue To Keep Up With Broader Price Gains Across Nation In Third Quarter

  • by
  • Comment Off
  • 278 views

Median Home Values Increase in Majority of Opportunity Zones Targeted for Economic Redevelopment Around U.S.;  Price Trends Inside Zones Continue to Roughly Match Broader Market Patterns;  Opportunity Zone Home Values Again Improve Slightly More Than Elsewhere ATTOM, a leading curator of land, property, and real estate data, released its third-quarter 2023 report analyzing qualified low-income Opportunity Zones targeted by Congress for economic redevelopment in the Tax Cuts and Jobs Act of

Read More

Economy Expected to Slow in 2024, Rebound in 2025

  • by
  • Comment Off
  • 331 views

Home Sales Likely to Weaken in Near Term but Bottom Out Early Next Year Economic growth remains likely to decelerate and ultimately result in a mild recession in 2024, followed by a return to growth in 2025, according to the November 2023 commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. While the combination of ongoing employment gains and decelerating inflation has increased the likelihood of a soft landing,

Read More