There aren’t enough homes for single people to buy

The number of single-person households in the U.S. has doubled over the last four decades, putting more pressure on first-time buyers who’re struggling to get into homeownership. The supply of entry-level homes up to 1,400 square feet recently hit a fifty-year low, according to Freddie Mac. “We’re just not building that many smaller homes, despite […]

Bidding wars decline for 5th straight month

Bidding wars declined again in September for the fifth successive month in a further sign that the housing market is becoming ever so slightly less competitive. That’s according to a new report from Redfin, which found that 58.9% of offers submitted by its agents on behalf of clients had to compete with other bids. Although […]

Digital closing tech provider Endpoint raises $150M to grow its business

Digital closing software startup Endpoint Closing Inc. has raised $150 million in funding from its parent company First American Financial Corp., it said this week. The round brings Endpoint’s total amount raised to $220 million, and follows a $40 million raise in November 2020. Founded in 2018, Los Angeles-based Endpoint was developed by First American […]

Existing home sales rose 7% in September

Sales of existing homes jumped 7% in September to a seasonally adjusted annualized rate of 6.29 million units following a decline in August. However, sales are still down 2.3% from where it was a year ago, according to new data from the National Association of Realtors. At the same time, the available inventory of existing […]

Survey: 92% of seniors want to age in place

The vast majority of seniors – 92% – said in a recent poll they’d prefer to “age in place” in their current residence, rather than sell up and move to some sort of assisted living facility. That somewhat unsurprising finding came from the American Advisors Group’s Importance of Home survey published this week. Among the […]

Investors are rushing to buy up more rental homes

As demand for single-family rental homes soars amid a growing preference for bigger, more spacious homes, data published this week shows investors are flocking to the market to buy up more stock. A report from CoreLogic this week shows that rents across the U.S. rose by an average of 9.3% in August compared to the […]

FHFA to allow desktop appraisals permanently

The Federal Housing Finance Agency has opted to make desktop appraisals permanent, having first introduced them as a temporary measure in March 2020. Desktop appraisals, as the name suggests, are an appraisal of a home’s value that’s done entirely at the appraiser’s desk. So there’s no traveling to the home, no inspection, no measuring. Rather, […]

Zillow puts its ibuying business on hold again

Zillow is putting a hold on its iBuying operations until the end of the year after reaching “operational capacity” according to a statement by the company. The pause comes three years after Zillow gatecrashed the iBuying market with its Zillow Offers service, which allows homeowners to obtain an instant cash offer on their property and […]

Goldman Sachs forecasts home prices to jump 16% in 2022

The housing market is on fire, with home prices up 20% today compared to one year ago. But if you thought that the market couldn’t get any hotter, and that things might start to cool off soon, think again, as analysts believe there are yet more home price gains in store for 2022. Goldman Sachs […]

Mortgage lender UWM drops bitcoin payments plan, for now

Homeowners have shown little interest in paying off their mortgages with bitcoin and other cryptocurrencies, causing United Wholesale Mortgage to ditch its plan to start accepting digital currencies as payment. UWM first announced its plans to embrace cryptocurrencies in August, and began a pilot project enabling a select number of mortgage holders to start making […]