Posts by John Yellig

Pending-home sales slide for third month in a row 

“Given the situation in the market — mortgages, home costs and inventory — it would not be surprising to see a retreat in housing demand.” — NAR chief economist Lawrence...

High prices, construction bottlenecks crimp new-home sales in January

"Builders are entering 2022 with backlogs that they are having a hard time completing due to material and labor shortages, and new-home prices are sitting near a historic high." — First American Deputy Chief Economist Odeta Kushi...

Mortgage applications fall to pre-pandemic low as rates rise 

Mortgage applications fell more than 13% in the most-recent week tracked by the Mortgage Bankers Association's Market Composite Index, while interest rates continued to...

Despite strong demand, builder confidence ebbs in February on supply-chain woes 

“Production disruptions are so severe that many builders are waiting months to receive cabinets, garage doors, countertops and appliances.” — NAHB Chairman Jerry...

Existing-home sales come roaring back in January

The sales pace of existing homes surged 6.7% in January after falling in December, as buyers got off the fence and went shopping ahead of rising interest rates, the National Association of...

Housing starts fall in January

Single-family housing starts fell 5.6% from December’s revised estimate to 1,116,000, while multifamily starts slid 2.1% to 510,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban...

Mortgage applications fall more than 8% 

The average contract interest rate for 30-year fixed-rate mortgages backed by the Federal Housing Administration increased to 3.93% from 3.86%, the Mortgage Bankers Association...

Real estate advisors project tamer housing market in 2022 

Home-price growth is expected to average about 5% this year, far below the record-breaking pace set in...

2021 ends with a bang in new-home sales 

Builders started to make headway against supply-chain issues that have hampered construction of homes in the face of high...

Blackstone unit acquiring four Chicago apartment communities as part of $3.7 billion deal 

The properties are part of a 42-community portfolio belonging to Philadelphia-based landlord Resource REIT...

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