Pending home sales fall 1.7% in October, as housing shortage worsens

A pending sale sign in front of a home in Miami. Getty Images Demand for housing is high, but there aren’t enough homes for sale to meet it. Pending home sales, which measure signed contracts, fell 1.7% in October month-to-month, according to the National Association of Realtors. Sales were 4.4% higher annually, likely because mortgage […]

Mortgage refinances surge over 300% from a year ago

Continued low mortgage rates are keeping bankers busy, as refinance applications continue to rise. Refinance volume helped push total mortgage application volume up 1.5% last week compared with the previous week, according to the Mortgage Bankers Association. Volume was 153% higher compared with the same week one year ago. This week’s annual comparisons are skewed, […]

Here’s where the housing shortage is worst

A “Sold” sign is displayed outside a townhouse in the Queen Anne neighborhood of Seattle, Washington, March 10, 2019. Chona Kasinger | Bloomberg | Getty Images The supply of homes for sale is falling across the nation, as demand soars and attractive mortgage rates pull buyers off the sidelines. At the end of October, inventory […]

House-flipping just start of transformation

Zillow’s house-flipping business is a launch pad into further transforming the homebuying experience, CEO Richard Barton told CNBC. “We dream one day of you having an almost trade-in experience with your house,” Barton said in an interview that ran on “Closing Bell” on Thursday. Zillow’s ambitions stem from the fact that all industries have been […]

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