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There may be ‘no escape’ from market-imploding recession: The Real Word

USA Real Estate News-Inman - Thu, 2022-08-18 15:24
Are we in an economic recession or a market-imploding housing recession? This week, Byron Lazine and Nicole White discuss the impact of low builder confidence, the changing real estate industry and politics from left, right and center.

After a decade of uninterrupted rise, Zestimates are dropping

USA Real Estate News-Inman - Thu, 2022-08-18 15:16
"While July’s housing market data update is big news, and could get first-time buyers’ hopes up, the future is unlikely to bring meaningful improvement to housing affordability," Zillow’s latest market report reads.

First American touts Procision as ‘next-generation’ valuation model

USA Real Estate News-Inman - Thu, 2022-08-18 14:34
The Procision AVM suite comes in three flavors for mortgage lenders, capital market investors, proptechs and real estate professionals.

RISMedia’s Newsmakers: Putting a Spotlight on the Agents of Change

USA Real Estate News-RISMedia - Thu, 2022-08-18 14:04

Every industry has pioneers for a better way, and that is no different in real estate. From exploring new technology and resources to elevating industry standards, these “Trailblazers” are working hard to navigate complex challenges, identify opportunities and provide solutions to help move the industry forward. For the sixth year in a row, we are…

The post RISMedia’s Newsmakers: Putting a Spotlight on the Agents of Change appeared first on RISMedia.

Home Sales Plummeting Across Price Points, Regions

USA Real Estate News-RISMedia - Thu, 2022-08-18 14:03

Existing home sales continue to free-fall, seemingly not yet hitting a floor as the market is now half a year into an accelerating decline, with July seeing a 16.2% year-over-year drop—even as other metrics paint a much more complicated picture around housing, according to the latest data from the National Association of REALTORS® (NAR). With…

The post Home Sales Plummeting Across Price Points, Regions appeared first on RISMedia.

Leading Data Still Points to ‘Mild’ Recession

USA Real Estate News-RISMedia - Thu, 2022-08-18 14:02

Non-profit economic think tank The Conference Board saw its Leading Economic Index (LEI) fall for the fifth month in July as recession risks remain a clear danger to the country heading into the fall. The LEI, which relies on a broad swath of big-picture macroeconomic metrics including manufacturing orders, housing permits and stock prices, fell…

The post Leading Data Still Points to ‘Mild’ Recession appeared first on RISMedia.

Mortgage Rates Revert from Last Week

USA Real Estate News-RISMedia - Thu, 2022-08-18 14:01

The 30-year fixed-rate mortgage (FRM) changed course again this week, averaging 5.13%, down from 5.22%, according to the latest Primary Mortgage Market Survey® (PMMS®) released by Freddie Mac today. Key highlights: 30-year fixed-rate mortgage averaged 5.13% with an average 0.8 point as of August 18, 2022, down from last week when it averaged 5.22%. A…

The post Mortgage Rates Revert from Last Week appeared first on RISMedia.

Mortgage Applications Change Course After 2 Weeks of Increases

USA Real Estate News-RISMedia - Thu, 2022-08-18 14:00

After two weeks of increases, mortgage applications changed course this week, decreasing 2.3% from one week earlier, according to the latest Weekly Mortgage Applications Survey from the Mortgage Bankers Association’s (MBA) for the week ending August 12, 2022. Key findings: The Market Composite Index, a measure of mortgage loan application volume, decreased 2.3% on a…

The post Mortgage Applications Change Course After 2 Weeks of Increases appeared first on RISMedia.

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