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Fannie Mae on Q4: Existing home sales will be lowest since 2010

Housing Wire

million on an annualized basis – the lowest since Q3 2010. Compared to October 2022, existing home sales slumped 14.6%, down from 4.44 Fannie Mae expects Q4 seasonally adjusted existing home sales to be 3.9 Total home sales are projected to come in at around 4.8 million in 2023, 4.7 million in 2024 and 5.3 million in 2025. in 2024 and 6.9%

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Share of first-time homebuyers hits highest level since 2010: Zillow

Inman

That's the highest share since 2010. Unburdened by rate lock, the share of first-time homebuyers rose to 50 percent this year, according to a new report from Zillow.

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NAR Reports $2.1 Trillion Increase in Housing Wealth for Middle-income Households Since 2010

Appraisal Buzz

National Association of Realtors ’ (NAR) new “Housing Wealth Gains for the Rising Middle-Class Markets” study examines the distribution of housing wealth between 2010 and 2020 across income groups and in 917 metropolitan or micropolitan areas. NAR found that during those 10 years, nearly 980,000 middle-income households became homeowners.

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Connecticut Senator asks HUD for answers on backlog of discrimination complaints

Housing Wire

“The same problem is occurring nationally as well, as the number of aged investigations has steadily increased from 4,494 in 2010 to 6,145 in 2022. Despite the increase in cases, the number of investigators tasked with resolving housing discrimination claims has decreased from 622 in 2010 to 598 in 2024.”

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How housing credit is shaping housing inventory

Housing Wire

After 2010, qualified mortgage laws were in place, meaning everyone getting a mortgage has to be able to repay the loan. This is what happened post 2010: The millennials started to buy homes in 2013 and they finance 90% of those homes. This matters because inventory was already heading toward all-time lows before COVID-19.

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Should we be worried about the number of underwater homes?

Housing Wire

In 2010, CoreLogic’s national data in the fourth quarter revealed that a shocking 23.1% However, the situation has significantly improved since then, thanks to the Qualified Mortgage rule (QM) that was implemented in 2010. Most homeowners aren’t in financial distress as their cash flow has been solid since 2010, thanks to that QM rule.

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Housing credit data in Q4 looks nothing like 2008

Housing Wire

Bankruptcies and foreclosures After 2010, the qualified mortgage laws came into play and all the exotic loan debt structures in the system, especially in the run-up in demand from 2002 to 2005, disappeared. Renters, younger renter households and those with lower FICO scores are the ones showing credit stress today.

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