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Home prices grew in 93% of markets in Q1 2024: NAR

Housing Wire

Home prices trended up in almost all U.S. metro areas during the first quarter of 2024. In the current market, rising prices are the direct result of insufficient housing supply not meeting the full demand.” Six of the 10 markets with the highest price appreciation were in either Illinois or Wisconsin. one year ago.

Marketing 489
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Home prices in opportunity zones show mixed trends in Q1 2024

Housing Wire

Median prices for homes and condominiums in federally designated opportunity zones rose in 49% of areas from fourth-quarter 2023 to first-quarter 2024, according to a report released Thursday by Attom. Attom analyzed 3,512 zones with sufficient data, defined as having at least five home sales in Q1 2024. territories.

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FHFA conforming loan limits increase to $766,550 in 2024

Housing Wire

The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 will be $766,550, up 5.5% Conforming loan limits are increasing at a slower pace, mirroring home prices, overall. The regulator compares home prices year over year and adjusts the limit by the corresponding amount.

Finance 531
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Reverse pros in high-value markets look ahead to 2024 opportunities

Housing Wire

Reverse mortgage loan originators all seem to agree that 2024 is off to a better overall start in business than a tepid 2023 might suggest. The product maintains the non-recourse feature of other reverse mortgages, contains no origination or monthly servicing fees, and has no minimum home value requirement.

Marketing 342
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What Fed rate cuts in 2024 will mean for homebuyers

Housing Wire

The housing market cheered as the Federal Reserve signaled interest rate cuts next year after making a series of rapid rate hikes starting in 2022. While the central bank did not completely rule out the possibility of a rate increase in 2024, that action seems unlikely. in 2025, indicating four more 25 bps cuts.

Inventory 457
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The month in reverse mortgage rates: March 2024

Housing Wire

For this reason, I will provide a short monthly educational focus, followed by a summary of the HECM rate market. This “principal limit” calculation is based on factors like home value, age, and of course, interest rates. March 2024 update Early in February, we saw a lower weekly average 10-year CMT (4.01%).

Mortgage 345
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Affordability, inventory, rates: An economist’s 2024 housing outlook

Inman

Windermere Real Estate Chief Economist Matthew Gardner offers his 2024 forecast for interest rates, home values and the potential for a housing market recovery.

Inventory 114