According to ATTOM’s newly released Q3 2024 Housing Market Impact Risk Report, California, New Jersey, and Illinois once again feature a high concentration of the most at-risk markets, with several areas in Florida also falling into this category. Meanwhile, the least-vulnerable markets remain predominantly clustered in the South.  The report highlights county-level housing markets across the United States that are more or less susceptible to declines in the third quarter of 2024. WATCH: ATTOM #FiguresFriday – Top 10 Most Vulnerable U.S. Housing Markets in Q3 2024 The analysis also noted that third-quarter trends, based on factors such as affordability gaps, underwater mortgages, foreclosures, and unemployment rates, showed that two-thirds of the 50 counties deemed most vulnerable to potential declines were located in California, Florida, Illinois, and New Jersey. Notably, Florida joined this group in the third quarter, marking a shift from earlier periods when fewer of its markets were categorized …

This Election’s Biggest Winner Might Be Landlords By Scot Aubrey As the 2024 U.S. presidential election recently closed, landlords across the country are celebrating many of the positive outcomes they saw in regard to housing, tax, and economic policies that will affect their businesses.  Whether it’s rent control, tenant protection laws, or economic conditions, this often-contentious election outcome will have an impact on the investment real estate market for years to come.  Here’s what landlords should be on the lookout for: Rent Control Normally reserved for large population center cities, rent control has moved beyond big-city limits and is trying to make its way into our local communities.  The outcome of many propositions around the country promoting rent control policies were effectively shot down, mostly by landlord voters like you.  Even in California, Prop 33, which would have put rent control policies in place statewide, was defeated.   These proposals could …

New York City and Chicago Areas More Vulnerable to Drop-offs Along with Inland California; South Still Faces Relatively Small Exposure; IRVINE, Calif. — Dec. 5, 2024 — ATTOM, a leading curator of land, property data, and real estate analytics, today released its latest Special Housing Market Impact Risk Report spotlighting county-level housing markets around the United States that are more or less vulnerable to declines, based on home affordability, equity and other measures in the third quarter of 2024. The report shows that California, New Jersey and Illinois once again had high concentrations of the most-at-risk markets in the country, with parts of Florida also joining that mix. Less-vulnerable markets continued to be clustered in the South region of the nation. The third-quarter patterns – derived from gaps in affordability, underwater mortgages, foreclosures and unemployment – revealed that two-thirds of the 50 counties around the U.S. considered most exposed to potential fallbacks …

As 2024 begins to wind down, the forecasts for 2025 are starting to roll in.  A recent prognostication from Bankrate.com. says in 2025 the housing market could have a more favorable outlook than much of 2024 had, due to improving mortgage rates and inventory levels.  However, they also say there’s still uncertainty in the air, though: Rising prices and slowing construction could cause some trouble for buyers in 2025, and the impact of the recent U.S. presidential election remains a wild card.  Indeed… Some key takeaways: Would-be homebuyers continue to be discouraged by elevated mortgage rates & rising home prices. While housing inventory has grown, it’s still below what’s needed for a balanced market. Experts expect 2025 to be a challenging one for the U.S. housing market. Click here to read the full story at Bankrate.com.   The post Bankrate’s Housing Market Predictions for 2025 appeared first on Real Estate …

Artificial intelligence combined with easy-to-use APIs (applicant programming interfaces) and big data have jettisoned the real estate industry into the digital universe. PropTech startups and data portals serve almost every need of real estate professionals, investors, lenders, and insurers. ATTOM delivers custom real estate data and analytics to its clients. Its extensive range of property data — from property characteristics to geo local environmental risk data — make it a leading player in the real estate data market. This article looks at ten of ATTOM’s unique real estate data solutions and the industry professionals it serves. 10 Solutions from ATTOM that You Need to Know About Every real estate portal has its unique features. Zillow boasts close to 20 APIs, among them a home loan functionality and a portal where landlords can find and screen potential renters. Homesage.ai runs computer vision models on all new listings in the US with …

ATTOM’s Q3 2024 U.S. Residential Property Mortgage Origination Report shows that during the third quarter, 1.67 million mortgages secured by residential properties (1 to 4 units) were issued in the United States, marking a modest increase of 1.9% both quarterly and annually. WATCH: ATTOM #FiguresFriday – Top 10 U.S. Metros with Purchase Mortgage Originations on the Rise According to the report, this growth represented the second consecutive quarterly increase, a trend not seen in over three years. However, despite 30-year fixed mortgage rates dropping to nearly 6% by the end of Q3 2024, the boost in lending activity fell well short of the surge experienced in spring 2024. Total mortgage activity remained nearly two-thirds below the peak reached in 2021. ATTOM’s Q3 2024 mortgage origination report stated that the recent trend was driven by gains in refinance and home-equity lending rather than an increase in new purchase loans. Refinancing activity …

U.S. investor home purchases fell 2% year over year in the third quarter, a much smaller change than the swings of the last several years. Purchases are now back near pre-pandemic levels.  In Florida, investor purchases posted double-digit declines amid an ongoing climate and insurance crisis. But investor purchases saw double-digit gains in a handful of metros, led by Las Vegas and Seattle. Investors purchased 16% of the homes that sold in the third quarter, roughly the same share as a year earlier.  Investor purchases of condos fell 11%—the biggest drop in a year—driven by declines in Florida.  Broken down by price, low-priced homes made up the lion’s share of investor purchases.  Real estate investors purchased 2.3% fewer homes in the third quarter than they did a year earlier. The small size of the change is notable because it comes after four years of huge swings driven by the wild …

President-elect Donald Trump’s incoming administration plans to “seal the border” and deport millions of undocumented migrants from the United States, starting in 2025. The housing market relies on immigrants as part of the construction labor force and could be impacted by the deportations, depending on the size and scale of the operation. Immigrants make up around 30% of the construction labor force, so restricting immigration will make housing more costly to build. The recent immigration surge under President Joe Biden has been a key part of the labor market’s surprising resilience in the face of the Fed’s aggressive rate hikes. Border crossings are already on the decline, but further declines under Trump’s new administration will mean less labor supply, a weaker labor market, and less economic growth. Goldman Sachs forecasts that net immigration will slow to about 750,000 per year, due to the Republican sweep of congress. That’s down from …

Residential Lending Grows Just 2 Percent Even as Rates Keep Declining; Refinance and Home-Equity Deals Rise While Purchase Loans Decrease IRVINE, Calif. – Nov. 21, 2024 — ATTOM, a leading curator of land, property data, and real estate analytics, today released its third-quarter 2024 U.S. Residential Property Mortgage Origination Report, which shows that 1.67 million mortgages secured by residential property (1 to 4 units) were issued in the United States during the third quarter. That led to modest quarterly and annual increases of 1.9 percent. The growth marked the second straight quarterly gain – a pattern not seen for more than three years. But even as home-mortgage rates dropped close to 6 percent for a 30-year fixed loan by the end of Q3 2024, the increase in business for lenders was far below a spike during the Spring of 2024 and still left total mortgages off by nearly two-thirds from a high …

The number of homebuyers and sellers contacting Redfin agents has jumped over the last week, with Redfin’s Homebuyer Demand Index posting its biggest year-over-year increase since early 2022.  Homebuyers are jumping into the market now that the election has passed and the Fed has cut interest rates for the second time in a row.  The number of people contacting Redfin agents for help buying and/or selling their home is up by double digits from a year ago. Redfin’s Homebuyer Demand Index–a seasonally adjusted measure of those contacts–rose 17% year over year to its highest level since August 2023, continuing an increase that started immediately after the election. That 17% increase is the biggest since January 2022.  It’s worth noting that we’re comparing to a period in 2023 when high mortgage rates were pushing down demand. Today’s weekly average mortgage rate is 6.78%, compared to 7.44% a year ago. Mortgage-purchase applications …