News Updates

Real Estate Investors Find Growth Opportunities in a Contracting Market

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Purchases increased by 49% in the Midwest and 24% in the West Q/Q from New Western’s 150,000+ investors New Western, the largest national private real estate investment marketplace, announced its continued momentum from 2022 into Q1 2023, including a double digit surge in growth over the last quarter. Powered by New Western, local independent investors found opportunities in the midst of a tumultuous housing market. While iBuyers and institutional buyers

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Single-family rental veteran will architect solutions to address needs and challenges of today’s commercial and residential clients Lessen, the premier tech-enabled, end-to-end solution for outsourced real estate property services, continues to enhance its leadership team by appointing Justin Iannacone as chief process & innovation officer. “This is an exciting time at Lessen and having the right executive team in place is essential as we continue to build on our momentum,”

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15% more borrowers purchased mortgage points in 2022 than 2021, and continue to do so as interest rates hover around 6% Interest rates remain high and home buyers are looking for ways to save money, including buying mortgage points. A recent analysis of data from the Home Mortgage Disclosure Act (HMDA) by Zillow Home Loans finds nearly 45% of conventional primary home borrowers opted to purchase mortgage points in 2022 as a

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S&P Dow Jones Indices (S&P DJI) released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released for February 2023 show a modest increase in our national composites, although eight of the 20 major metro markets reported lower prices. More than 27 years of history are available for the data series and can be accessed in full by going to www.spglobal.com/spdji/en/index-family/indicators/sp-corelogic-case-shiller. YEAR-OVER-YEAR The S&P CoreLogic

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Black Knight, Inc. reports the following “first look” at March 2023 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market. Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 2.92%Month-over-month change: -15.23%Year-over-year change: -13.23% Total U.S. foreclosure pre-sale inventory rate: 0.46%Month-over-month change: -0.21%Year-over-year change: 13.24% Total U.S. foreclosure starts: 32,000Month-over-month change: 9.03%Year-over-year change: -5.69% Monthly prepayment rate (SMM):

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Investors are selling at a loss as elevated mortgage rates curtail homebuyer demand. Roughly one of every seven (13.5%) U.S. homes sold by an investor in March sold for less than the investor bought it for, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s comparable with February’s 14.5% rate—the highest since 2016. It’s also nearly triple the share of a year earlier and compares with a