- Predictive AI is being used to analyze market trends and patterns to help investors while landlords use it to predict maintenance and resource allocation.
- Affordability of existing homes edged higher for both median- and low-income families between the second and third quarter, the NAHB said.
- Residential construction is shifting to low-density areas due to affordability challenges, high costs, and limited construction options in urban areas.
- A key member of the Fed’s Board of Governors said a December rate cut depends on economic data, warning inflation could rise again.
- Homeowners can showcase their holiday spirit by adding warm touches through the space, including the kitchen. Involve the whole family in the decorating.
- Better pet accommodations are now a bigger priority for renters of single-family homes than making room for a growing family.
- House prices rose as demand outpaced supply, but elevated prices and mortgage rates slowed growth.
- Luxury homeowners are opting to build private sea walls costing $150,000 or more to protect their coastal homes from erosion and storm damage.
- The housing market is expected to improve next year, and buyers will embrace smaller homes, Zillow said. Mortgage rates may remain unpredictable.
- Many are working a second job or a job they hate to afford rent, Redfin found. Rental affordability could stabilize in the future as more apartments are built.
- FEMA has been cracking down on post-hurricane rebuilding, enforcing stricter rules to ensure damaged homes meet flood safety standards amid rising storm risks.
- Rates on 30-year mortgages slipped to 6.81% from 6.84% last week, while borrowing costs on 15-year fixed-rate mortgages climbed to 6.1% from 6.02%.
- NAR’s Pending Home Sales Index increased 0.9% in the South to 90.0 in October, up 2.5% from a year ago. Pending sales grew across the U.S.
- Beginning in 2025, Fannie Mae and Freddie Mac can acquire loans of up to $806,500 for single-family homes, a 5.2% increase from its 2024 level.
