April Housing Starts Steady but Single-Family Drops 7.3%
Housing starts fell just 0.2% in April, but multifamily starts rose 15.3% to offset the single-family drop. NAHB cites “weaker confidence in the single-family market.”
3 Fla. Metros in Top 15 for Mortgage Fraud
Buyers feel pressure to lie on mortgage applications as homes become less affordable, and it’s become more prevalent in South Fla., Orlando and Tampa metros.
Realtor.com Adds New Risk Warning: Wildfires
Listings already include info on a listing’s risk for flooding but going forward, they’ll also have a warning about the potential risk from wildfire damage.
HUD: $10.3B for Housing in Fiscal Year 2022
Most of the money goes toward affordable housing, but it’s also used for other HUD housing programs, such as specific aid for some at-risk populations.
Builder Optimism Plummets in May
At 69, NAHB’s confidence index remained in positive territory, but it dropped 8 points due to rising interest rates, a lack of workers and supply-side issues.
Biden Admin. Releases Housing Action Plan
Biden hopes to close the housing supply gap within five years. He announced immediate changes, but the extensive plan requires some congressional action.
Pair Arrested for ‘Stealing’ 67 Fla. Homes
Fraudsters troll obituaries seeking homeowners who died, then lie and forge documents to claim ownership, often to the surprise of the actual heirs.
A Seller’s Past Insurance Claims Can Ding Buyers
A house’s claim history can increase premiums for future coverage – or even kill a deal if it has issues that cause insurers to consider it an unacceptable risk.
As Rates Go Up, Buyers “Adjust,’ Opting for ARMs
MBA: Demand for adjustable-rate mortgages has reached a 14-year high. At the beginning of the year, ARMs made up 3% of all loans; now it’s 11%.
A Balanced Market? Early Signs of a Return
Real estate historically swings from a buyer’s market to a seller’s market, and early 2022 signs suggest it’s moving toward a more balanced market.