The average contract interest rate for 30-year fixed-rate mortgages backed by the Federal Housing Administration increased to 3.93% from 3.86%, the Mortgage Bankers Association said.
Pathway Homes was formed by ResiLabs, a partnership between real estate private equity investor Regis Group, single-family rental landlord Invitation Homes Inc. and venture-capital firm Fifth Wall.
Home-price growth is expected to average about 5% this year, far below the record-breaking pace set in 2021, RCLCO reported.
Builders started to make headway against supply-chain issues that have hampered construction of homes in the face of high demand.
The properties are part of a 42-community portfolio belonging to Philadelphia-based landlord Resource REIT Inc.
New homes and existing homes are appreciating at similar rates, according to a new report from CoreLogic.
“December saw sales retreat, but the pull back was more a sign of supply constraints than an indication of a weakened demand for housing.” — NAR chief economist Lawrence Yun
Despite fierce competition in the housing market, nationwide, potential homebuyers still have dealbreakers — and they’re revealed in a new study by HomeAdvisor.
While multifamily starts surged 13.7% compared to November, the pace of new single-family housing construction slid 2.3%, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
“While lean existing home inventory and solid buyer demand are supporting the need for new construction, the combination of ongoing increases for building materials, worsening skilled labor shortages and higher mortgage rates point to declines for housing affordability in 2022.” — NAHB Chairman Chuck Fowke