There’s been a lot of misleading information about home prices over the past year. And that’s still having an impact on how people are feeling about the housing market today. But it’s best not to believe everything you hear or read. If you want information you can trust, turn to the real estate experts. Their data shows home prices are on the way back up and will net positive for the year. If you have questions about what’s happening in our local area, let’s connect. 

The Federal Housing Administration has announced that Fannie Mae and Freddie Mac are extending the moratoriums on single-family foreclosures and real estate owned evictions until at least Jan. 31, 2021.

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The FHFA’s home price index went up 6.5% YOY, and 1% MOM in July, with annual gains across the census. They also revised their June numbers from 0.9% MOM to 1%

For the first time since March, the total number of mortgage loans in forbearance has decreased to 8.48% from the previous week of 8.55% (Mortgage Bankers Association). Currently, there are 4.2M homeowners with forbearance plans.

 

Encouraging news to all home sellers! Buyers are rapidly returning to the housing market, despite uncertainty due to coronavirus.

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With an increase in employment opportunities, consumers are becoming more optimistic about the economy.  In turn, this improves the housing market.  Fannie Mae’s February 2015 Housing Survey™ showed an all time high of 47 percent of people think that the economy is headed in the right

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As the last decade has shown us, it's not enough to get into a home of your own -- you have to be able to stay there comfortably and affordably, including having enough of a cushion to ride out rough [...]