Weekly Housing Headlines

This week saw a decrease in mortgage applications; homebuyer sentiment is on the rise; homeownership became less affordable in Q2; the number of homes actively for sale was notably higher compared with last year; and housing inflation remains stubbornly high.

Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage Bankers Association - 7/10/2024
Mortgage applications decreased 0.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending July 5, 2024.

Weekly Housing Trends View — Data for Week Ending July 6, 2024
Realtor.com - 7/11/2024
This week’s data revealed a sluggish housing market, with both sellers and buyers easing off due to Independence Day. Fewer sellers listed new homes, and properties stayed on the market longer.

Report: Homebuyer Sentiment On The Rise
MortgagePoint - 7/8/2024
Fannie Mae’s latest Home Purchase Sentiment Index rose 3.2 points in June to 72.6, rebounding from last month’s dip and returning the Index nearer the plateau it set earlier this year.

ATTOM: Homeownership Became Less Affordable in Q2
MortgageOrb - 7/8/2024
Major homeownership expenses – including mortgage payments, property taxes and insurance – now consume about 35% of the average wage nationwide, according to ATTOM’s U.S. Home Affordability Report.

Mortgage Credit Availability Increased in June
Mortgage Bankers Association - 7/11/2024
Mortgage credit availability increased in June for the sixth consecutive month, as lenders expanded their offerings of cash-out refinance loan programs.

June 2024 Monthly Housing Market Trends Report
Realtor.com - 7/9/2024
The number of homes actively for sale was notably higher compared with last year, growing by 36.7%, an eighth straight month of growth.

Here’s why housing inflation is still stubbornly high
CNBC - 7/11/2024
Housing accounts for 36% of the CPI index, since it’s the biggest expense for the average household. Movements in shelter prices therefore have an outsized influence on inflation readings.

Rising Home Values Are Driving Property Taxes Higher — These States Are Trying to Do Something About It
Realtor.com - 7/8/2024
Several states are pursuing measures to limit the pain for homeowners by limiting annual increases to property tax revenue collections or assessment values.

Gen Z homebuyers defy 20% down payment norm
Mortgage Professional America - 7/11/2024
Homeownership is becoming increasingly expensive, but younger generations entering the housing market are finding new strategies to cope with low down payment options, a new TD Bank survey has revealed.

It suddenly looks like there are too many homes for sale. Here’s why that’s not quite right
CNBC - 7/9/2024
There is currently a 4.4-month supply of both new and existing homes for sale, according to the National Association of Home Builders, or NAHB.