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Multifamily Lending Dips in 2023 

Appraisal Buzz

In 2023, 2,520 different multifamily lenders provided a total of $246.2 Multifamily lending fell by roughly half in 2023 as sales transactions declined and far fewer property owners sought to refinance their loans,” said Jamie Woodwell, MBA’s Head of Commercial Real Estate Research. Last year’s $246.2 Last year’s $246.2

Lending 366
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Housing inventory defied all predictions in 2023

Housing Wire

Going into 2023, people thought housing inventory would skyrocket, home prices would crash, and we would see the housing market of 2008 all over again. Looking back on 2023, the inventory story was a big surprise even as mortgage rates headed toward 8%, as the data below will show. 9, 2022, and they’ll be ready for what’s coming next.

Inventory 500
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Home flipping activity and profits plummeted in 2023: Attom

Housing Wire

The landscape for home flipping across the country was challenging in 2023 as fewer single-family homes and condominiums were flipped and investment returns on these projects declined. A total of 308,922 single-family homes and condos were flipped in 2023, down 29.3% in 2023, the lowest level posted since 2007.

Investors 478
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Title premium volume fell 31% in 2023

Housing Wire

As existing home sales dropped to the lowest level it has seen in nearly three decades in 2023 , title insurance premium volume also took a hit. In 2023, the title insurance industry generated $15.1 The five states with the largest title premium volumes in 2023 were Texas ($2.26 in 2023. billion), Florida ($1.92

Insurance 364
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Second-home mortgage market slumped in 2023: Redfin

Housing Wire

In 2023, home purchases slowed across the board due to low levels of inventory, high mortgage rates and soaring home prices. Nationwide, 90,772 mortgages for second homes were originated in 2023, down 40% from a year earlier and down 65% from the height of the post-pandemic housing boom in 2021, according to a new report from Redfin.

Mortgage 393
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Home equity lending flat in 2023 as outstanding debt increased: MBA

Housing Wire

Home equity lending in 2023 grew by only 1.5% Home equity originations were relatively flat in 2023 compared to 2022,” Walsh said in a statement. Despite the tepid volume growth in 2023, our study shows an uptick in home equity debt outstanding,” Walsh said. billion per company in 2023, compared with $2.1 billion in 2022.

Lending 362
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Hispanic homeownership rate rose to 49.5% in 2023: NAHREP

Housing Wire

in 2023, with a net gain of 377,000 Hispanic owner households from the previous year. million Hispanic households own their home, the National Association of Hispanic Real Estate Professionals ( NAHREP ) said in its 2023 State of Hispanic Homeownership Report released on Tuesday. In total, more than 9.5 of overall U.S. About 29.5%