Chen Zhao Chen Zhao leads the economics team at Redfin, where she produces research on the housing market for public and internal audiences. Previously, she was an executive director leading housing finance and financial markets research at the JPMorgan Chase Institute. Prior to joining JPMCI, Chen was an economics consultant at Analysis Group, Inc., where she worked on financial litigation cases and led teams conducting health economics and outcomes research on behalf of pharmaceutical companies. While in graduate school, Chen was with the Center for Economic Studies and the Social Economic and Housing Statistics Division at the US Census Bureau, where she conducted applied microeconomics research using large scale restricted-access linked survey-administrative data. She started her career at the White House Council of Economic Advisers, where she focused on labor and health economics. Email Chen

According to ATTOM’s Q4 2024 U.S. Home Affordability Report median-priced single-family homes and condos are still less affordable compared to historical norms in 99 percent of counties with sufficient data. This trend, observed since 2022, reflects a persistent challenge in homeownership, with housing costs consuming historically significant portions of incomes nationwide. WATCH: ATTOM #FiguresFriday – Top Ten U.S. Counties with the Largest Quarterly Increase in Affordability Indexes in Q4 2024 The report indicates that major expenses for median-priced homes now consume 34% of the average national wage, up over one percentage point both quarterly and annually. This figure exceeds the 28% lending guideline commonly preferred by lenders. ATTOM’s latest home affordability analysis revealed that current and historic affordability downturns highlight how home ownership remains a financial challenge for average workers. With the national median home price reaching $364,750 and mortgage rates still above 6%, ownership expenses continue to outpace wages, …

Last week’s infographic illustrated America’s fastest growing housing markets based on data from this report.  That being said, Storagecafe says the U.S. housing market has been on a steady, albeit slow, growth trajectory over the past two decades with total inventory reaching 144 million housing units in 2023 – up 16.7% from 2005.  However, data show that even though homes continue are being built, housing supply still falls short of meeting demand, and prices keep rising.  Their recent report points out that housing stock has evolved differently across various types, with single family and middle housing under-performing while multifamily developments have boomed – stepping up to meet the pressing need for more living space. Some key points: The national housing inventory rose by 16.7% from 2005 to 2023. The multifamily sector saw the most rapid growth, increasing by 54% nationwide. Apartment stock doubled or more in over 120 cities. Middle …

As the 2025 predictions roll in, the researchers at Realtor.com says mortgage rates will continue to average above 6% and home prices will keep rising.  In addition they say the supply of homes for sale will continue to improve as well as new-home construction. “This past year brought us a surprising upward trend in home price growth despite the persistence of high mortgage rates and rising inventory,” Realtor.com economists wrote. “Mortgage rates are expected to keep mortgage payments essentially unchanged in 2025 despite continued home price growth.” Click here to read the full report at Realtor.com.   The post Realtor.com’s 2025 Housing Forecast appeared first on Real Estate Investing Today.

Building and nurturing your contact list is essential for long-term success in the mortgage industry. According to a study by STRATMOR, 89% of borrowers made their decision to choose a lender based on relationships. A well-maintained list allows you to stay connected with potential borrowers and offer solutions tailored to their evolving needs. Whether people are actively shopping for homes, considering a refinance, or looking at home equity products, by regularly engaging with your contacts, you build trust and increase the likelihood of keeping the business of past and current clients. Learn how to increase your network, grow your business, and retain your customer base in a competitive market. It only takes four simple steps. 1. Make Sure Your Current and Past Customers Like You Referrals are one of the most trusted and cost-effective ways to build your contact list. Leveraging your existing network of former clients and other trustworthy …

A recent report from StorageCafe says the South is leading the boom in America’s fastest-growing housing markets with Texas “stealing the spotlight.”  In fact, nationally, they say housing inventory rose by 16.7% from 2005 to 2023.  Indeed…stay safe and have a Happy Friday!!! Hat tip to StorageCafe.   The post America’s Fastest Growing Housing Markets appeared first on Real Estate Investing Today.

Typical Raw Flipping Profit Drops to $70,000; Flipping Rate Also Decreases to Low Point Over Past Year  IRVINE, Calif. – Dec. 12, 2024 — ATTOM, a leading curator of land, property data, and real estate analytics, today released its third-quarter 2024 U.S. Home Flipping Report showing that 74,618 single-family homes and condominiums in the United States were flipped in the third quarter. Those transactions represented 7.2 percent, or one of every 14 home sales, nationwide during the months running from July through September of 2024. The latest portion of flipped properties was down from 7.6 percent of all sales in the U.S. during the second quarter of 2024, extending a common pattern seen during annual Spring and Summer buying seasons when other types of home sales spike. The flipping rate returned to the 7.2 percent level recorded in the third quarter of last year. However, while the flipping rate followed historical trends, …

For the fourth consecutive month, the number of delinquent loans increased year over year. In September, 3% of all U.S. mortgages were in some stage of delinquency. Although the majority of U.S. metro areas saw increases in delinquency rates, the nation’s serious delinquency rate did not change year over year, and the U.S. foreclosure rate stayed roughly the same as last year in September.  While delinquency rates are increases, compared to previous periods, the overall delinquency rate in the U.S. remains low. Click here to read CoreLogic’s full Loan Performance Insights report with September 2024 data, which features commentary from Senior Principal Economist Molly Boesel. All archived Loan Performance Insights reports are available at this home page, while regular housing market reports and blog posts from  CoreLogic’s economists can be found here.

Foreclosure Starts Decrease 3 Percent from Last Month; Completed Foreclosures Increase 5 Percent from Last Month  IRVINE, Calif. — Dec. 10, 2024 — ATTOM, a leading curator of land, property data, and real estate analytics, today released its November 2024 U.S. Foreclosure Market Report, which shows there were a total of 29,390 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions – down 9 percent from a year ago, and down 5 percent from the prior month. “The slight decline in U.S. foreclosure activity during November most likely reflects the seasonal ebb we often see this time of year,” said Rob Barber, CEO at ATTOM. “While foreclosure filings are down both month-over-month and year-over-year, the data highlights areas of the country, such as Nevada, Florida, and Connecticut, where foreclosure rates remain relatively high. As we move into 2025, we’ll be closely monitoring how economic pressures and market dynamics …