REI INK

News Updates

Annual Growth Rate Accelerates as Home Prices Set New Record High

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— The Black Knight HPI hit another all-time high in July, with the annual rate of growth jumping to +2.3% from a revised +0.9% in June — The reaccelerating annual growth rate was driven as much by the price declines of last July providing a lower starting point as it was by July 2023 gains themselves — August will likely see further reacceleration in annual growth with prices already up a seasonally adjusted 2.9%

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HOME-MORTGAGE LENDING REVIVES ACROSS U.S. IN Q2 2023

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Residential Loans Up 21 Percent Following Eight Straight Quarterly Declines; Purchase Lending Leads the Way, Spiking 29 Percent; Refinance and Home-Equity Activity Also Rise ATTOM, a leading curator of land, property, and real estate data, released its second-quarter 2023 U.S. Residential Property Mortgage Origination Report, which shows that the total number of mortgages secured by residential property (1 to 4 units) in the United States increased to 1.56 million during the

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Pending Home Sales Ticked Up in July But Still Hovered Near Recent Low

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Pending sales have stabilized following months of steep declines, but homebuyer demand remains below pre-pandemic levels July pending home sales rose 0.7% from a month earlier to the highest level since the start of the year on a seasonally adjusted basis, but were still only 5.4% above the low point hit in March. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Pending sales fell 15.7% year

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ARIXA CAPITAL ANNOUNCES STRATEGIC JOINT VENTURE WITH OAKTREE

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Arixa Capital Advisors, LLC (“Arixa Capital” or “Arixa”) announced the launch of a $100M strategic joint venture, with the ability to upsize in the future, with funds managed by Oaktree Capital Management, L.P. (“Oaktree”) to originate senior secured loans backed by residential and commercial real estate. Arixa Capital is a leading private real estate lender and investment manager, operating throughout the Western United States. The firm has established a successful track record of

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Realtor.com® 2023 Hottest ZIP Codes in America Reveal Demand for Closer Commutes is Back

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Affordability isn’t the only priority for U.S. homebuyers, according to Realtor.com®‘s ninth annual Hottest ZIP Codes report; Proximity to cities is key as many companies call workers back to the office For the first time in five years, the suburbs of five major metropolitan areas – Boston, New York, Chicago, Detroit and St. Louis – are represented on the annual Realtor.com® Hottest ZIP Codes Report, marking a renewed interest in commutable homes as much of the country’s workforce returns

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DEFAULT SERVICING INDUSTRY LEADERS EXPECT SLIGHT INCREASE IN FORECLOSURE VOLUME AND FALLING HOME PRICES TO END 2023

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Auction.com, the nation’s leading distressed real estate marketplace, released its 2023 Seller Insights report, which shows that 92 percent of default servicing industry leaders expect completed foreclosure auction volume to increase in 2023 compared to 2022 while 85 percent expect home prices to decline in 2023 compared to 2022. The report is based on a June 2023 survey of more than 50 leaders in the default mortgage servicing industry at

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