REI INK

Redfin Home Price Index: Price Growth Holds Steady at Start of the Year

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Home prices rose 0.5% month over month in January, on par with December’s gain, as the drop in mortgage rates at the end of last year gave buyers a bit more purchasing power U.S. home prices climbed 0.5% from a month earlier in January, matching the 0.5% gain seen in both December and November, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. On a year-over-year basis, prices

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Housing Market Activity Lost Steam in January as Mortgage Rates Stopped Falling and Prices Kept Rising

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Redfin reports new listings dropped for the first time since June and pending sales growth slowed; Stagnating mortgage rates and the biggest home-price jump in over a year caused the market to lose momentum New listings dropped 1.2% month over month on a seasonally adjusted basis, the first decline since June, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. They were up 2.7% from a year earlier,

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OPPORTUNITY ZONE HOUSING MARKETS STILL TRACKING ALONG WITH BROADER U.S. HOUSING MARKET

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Median Home Values Decrease During Fourth Quarter of 2023 in Just Over Half of Opportunity Zones Targeted for Economic Redevelopment Around U.S.;  Price-Decline Trends Inside Zones Again Follow Closely With National Market Patterns ATTOM, a leading curator of land, property, and real estate data, released its fourth-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 report, ATTOM looked

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Digital Fraud in the Real Estate Industry

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Property Shield Helps to Remove Fraudulent Account In today’s digital age, the real estate sector is not immune to the sophisticated schemes that have emerged alongside technological advancements. One notable example was the exposure of a fraudulent Instagram account named ‘1timepaymenthomes.’ This account falsely promised the ability to rent a home through a single payment, misleading individuals into believing they could bypass the conventional, legal routes to renting a home.

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U.S. FORECLOSURE ACTIVITY SEES NOTABLE INCREASE IN JANUARY 2024

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Completed Foreclosures (REOs) Increase Monthly in 19 States;  Foreclosure Starts Up Monthly and Annually Nationwide ATTOM, a leading curator of land, property, and real estate data, released its January 2024 U.S. Foreclosure Market Report, which shows there were a total of 33,270 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions – up 5 percent from a year ago, and up 10 percent from the prior month. “We observed a slight

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COST OF HOME REPAIRS INCREASES BY 5.5% FROM Q4 2022

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Price increases slowing nationally after surging due to supply chain disruption and increased demand during COVID-19 pandemic The cost of home repairs and remodeling in the fourth quarter of 2023 continued to increase, rising by 0.54% from the prior quarter and just over 5.5% from the fourth quarter of 2022 according to the Q4 2023 Verisk Remodel Index. Costs set new highs for the past decade, rising over 65% from

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