News / Features
The Federal Housing Finance Agency (FHFA) recently announced its 2022 conforming loan limits (CLL) for conventional loans acquired by Fannie Mae and Freddie Mac.
“Despite higher mortgage rates, purchase applications had a strong week, mostly driven by a 6% increase in conventional loan applications.” — MBA associate vice president of economic and industry forecasting Joel Kan
During week 47, real estate agents entered 1,359 properties into the Multiple Listing Service for the week ended Nov. 29 compared to 1,563 during the same period last year.
Investors across the country are looking to cash in on skyrocketing house prices and rents, putting them in competition with new buyers trying to work their way to homeownership. Real estate investors bought a record 18% of the homes sold in the third quarter, according to a new Redfin report.
Led by Jennifer Keller, Hamilton Thomas Homes broke ground in October in Balmoral, where it will build 31 homes on 45-foot sites. Homes will range from 1,700 to 3,000 square feet, with pricing in the mid-$300,000s, according to a press release.
“If I had to choose only one word to describe September 2021’s housing price data, the word would be ‘deceleration. Housing prices continued to show remarkable strength in September, though the pace of price increases declined slightly.” — S&P DJI managing director Craig Lazzara.
Coventry Homes will expand its building program to the 460-acre community of Candela, the builder announced in a press release. Priced from the $530,000s, homes will be situated on 70-foot sites with designs ranging from 2,915 to 4,573 square feet. Floor plans have not yet been released.
New Houston listings gained momentum in suburban and rural areas in November while remaining sluggish in urban areas, according to the Houston Association of Realtors (HAR) Multiple Listing Service (MLS).
“Motivated by fast-rising rents and the anticipated increase in mortgage rates, consumers that are on strong financial footing are signing contracts to purchase a home sooner rather than later.” — NAR chief economist Lawrence Yun
While the housing market may be hotter than usual, the shift toward seasonal norms is starting to show and could benefit both buyers and renters.