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News Updates

Mortgage Rates Surge Past 7.1% For First Time Since November; Some Buyers Back Off While Others Lower Budget

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Monthly housing payments hit a new record high this week as mortgage rates jumped, pricing out many homebuyers, especially those with limited budgets Housing payments hit a new high this week as mortgage rates jumped due to progress on a possible debt-ceiling deal. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Daily average rates hit 7.12% on May 25, reaching their highest level since November. The

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ZOMBIE FORECLOSURES KEEP INCREASING BUT REMAIN A TINY PRESENCE AROUND MOST OF U.S.

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Count of Vacant Homes in Foreclosure Increases for Fifth Straight Quarter;Zombie Properties Comprise Largest Portion of All Homes Since Before COVID Pandemic;But Just One of Every 11,600 Residential Properties Nationwide Sits Empty in Foreclosure ATTOM, a leading curator of land, property, and real estate data, released its second-quarter 2023 Vacant Property and Zombie Foreclosure Report showing that 1.3 million (1,285,633) residential properties in the United States are vacant. That figure represents 1.3 percent, or

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Rent. Introduces Aerial View for RentMarketplace. Listings

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With the introduction of Google Maps Platform’s Aerial View, renters can now experience a captivating 3D cinematic perspective, offering a bird’s-eye view of a community Rent., a leading provider of integrated marketing solutions to the multi- and single-family rentals industry, announced a landmark enhancement to listings on its RentMarketplace. network of sites. Rent. has entered into an agreement with Google Maps Platform to be the first in the multifamily industry

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Redfin Reports There Are Only Four Major U.S. Metro Areas Where It’s Cheaper to Buy a Home Than Rent

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Nationwide, the typical home costs an estimated 25% more per month to own than rent; However, buying is more affordable than renting in Detroit, Philadelphia, Cleveland and Houston. There are just four major U.S. metropolitan areas where it would be cheaper to buy than rent the typical home—that is, the typical home has an estimated monthly mortgage cost lower than its estimated monthly rental cost. That’s according to a new report from

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OPPORTUNITY ZONE HOME PRICE TRENDS MIXED IN FIRST QUARTER 2023, MATCHING PATTERNS NATIONWIDE

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Median Home Values Decline in About Half of Zones Targeted for Economic Redevelopment;  Trends Mostly Match Broader Nationwide Market Slowdown;  But One Measure Shows Opportunity Zones Holding Up Slightly Better Than Other Local Markets ATTOM, a leading curator of land, property, and real estate data, released its first-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

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Redfin Reports Fewer Metros Are Seeing Home-Price Declines As Lack of Inventory Keeps Prices Afloat

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U.S. home prices are down 2.7%, the smallest decline in over a month, and prices are dropping in fewer metros The median U.S. home-sale price fell 2.7% during the four weeks ending May 14, the smallest decline in over a month. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Monthly mortgage payments hit a record high due to still-high prices and elevated mortgage rates. On a

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