Real Estate Marketing & Beyond

Home Sales, Housing

NAR economist says housing market now in "recession"

By Mike Wheatley | August 21, 2022

Housing, News, Zillow

No surprise as study finds cheaper homes face toughest competition

By Mike Wheatley | August 19, 2022

As home-buying demand cools from the record pace of 2021, competition is now hottest for the lowest-priced homes as mounting affordability obstacles stretch buyers' budgets, the latest Zillow analysis has found. Throughout most of the pandemic, buyers shopping in the middle and top price tiers faced the strongest competition — inventory was relatively lower, and […]

Builders voice concern as new home starts dip by 10% annually

By Mike Wheatley | August 18, 2022

Homebuilders say they’re becoming concerned that increasing numbers of buyers are pulling out of sales contracts for new homes. That’s led to homebuilder confidence falling for the eighth month in a row, according to the Commerce Department this week. Last month, single-family home construction dropped by 10% annually, falling to its lowest level since the […]

Zillow study highlights higher mortgage fees for buyers with lower credit scores

By Mike Wheatley | August 17, 2022

Elevated home prices and rising interest rates are feeding into housing affordability woes for potential buyers, especially those with lower credit scores. A new Zillow analysis shows that, nationally, buyers with "fair" credit could be paying up to $288 more on their monthly mortgage payment than those with "excellent" credit. A buyer’s credit profile plays […]

real estate housing market

Housing, US Real Estate

Will the Real Estate Housing Market Continue to Grow in the Next Year?

By Mike Wheatley | August 16, 2022

In July, the Federal government announced another 0.75% interest rate hike. So, if you're considering applying for a new home loan in 2022, you can expect to pay a lot more for your mortgage. This is sure to impact the real estate housing market in some way, although so far things aren't panning out as predicted. The last two […]

Artificial Intelligence, Real Estate Technology

Hover brings 3D digital twins to new construction projects

By Mike Wheatley | August 14, 2022

Proptech startup Hover, which has created technology that uses smartphone photos to build digital twins of properties, is expanding its capabilities to include blueprint uploads. The company said contractors on new constructions will be able to make use of its entire solution, which generates 3D models and exterior measurements, using blueprints of designs. In other […]

Though inflation fell last month, housing costs kept rising

By Mike Wheatley | August 13, 2022

Having risen to its highest level in 40 years last June, inflation declined marginally at the end of last month. Due to a decrease in the Consumer Price Index’s gasoline index, that market remained unchanged compared to one month earlier, having hit a seasonally adjusted rate of 1.3% in June. The Bureau of Labor Statistics […]

Housing, Mortgage

Refinance applications jump on wild swings in mortgage rates

By Mike Wheatley | August 12, 2022

Mortgage rates last week rebounded, having dropped towards the end of July. As a result, mortgage demand was split, with refinancing applications moving higher while homebuyer applications fell, according to the latest data from the Mortgage Bankers Association. The data shows that the average contract interest rate for a 30-year fixed-rate mortgage with a conforming […]

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