Ginsburg stated that treating builder business as a core pillar rather than a side channel reflects a broader industry shift. He believes a healthy balance of builders should be around 15% to 20% of the overall retail book of business.
High energy prices are kryptonite for the housing market. Affordability, especially for those first-time home buyers, is now an elusive dream until oil prices come down and interest rates come down.
Miami was hyped as the next Silicon Valley during the pandemic, but the city saw one of the highest rates of domestic out-migration last year of any major city, indicating that it is a hotspot no more.
The February PAPI declined over the month and is nearly 10% lower than a year ago, reflecting both reduced payments and steady income growth, Edward Seiler said. While affordability conditions remain challenging in many markets, these incremental gains felt across more than half of states are an encouraging sign for prospective buyers, particularly those seeking lower-payment options.
The MBA's refinance index decreased 19% from the previous week while remaining 69% higher than the same week one year ago. The refinance share of mortgage activity decreased to 52.3% of total applications, down from 57.8% the previous week.
