The sales pace of existing homes surged 6.7% in January after falling in December, as buyers got off the fence and went shopping ahead of rising interest rates, the National Association of Realtors reported.

Single-family housing starts fell 5.6% from December’s revised estimate to 1,116,000, while multifamily starts slid 2.1% to 510,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development said.

January foreclosure filings were the highest since the start of the pandemic, according to a new report. 

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. 

@properties has officially rebranded to become @properties Christie’s International Real Estate. The Chicago-based brokerage acquired the luxury real estate arm of the art auction house in December 2021.

@properties has officially rebranded to become @properties Christie’s International Real Estate. The Chicago-based brokerage acquired the luxury real estate arm of the art auction house in December 2021.

Builders started to make headway against supply-chain issues that have hampered construction of homes in the face of high demand. 

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

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

Black applicants were 84% more likely to be denied a mortgage than white applicants, the data showed, an increase from the 74% disparity in 2019.

The first phase of the deal comprises 1,424 new single-family homes and townhouses in Tampa, Fla.; Atlanta and Athens, Ga.; and Pinehurst, N.C.

“MBA expects solid growth in purchase activity this year, as demographic drivers and the strong economy support housing demand,. However, the strength in growth will be dependent on housing inventory growing more rapidly to meet demand.” — Mortgage Bankers Association associate vice president of economic and industry forecasting Joel Kan