Chuck Barberini Real Estate

Vulnerable U.S. homeowners face uncertainty as mortgage forbearance ends. Close to half a million low-income homeowners in the United States, many of them minorities, are nearing the end of mortgage forbearance plans that allowed them to halt loan payments during the pandemic, presenting a test for the mortgage service firms tasked with helping struggling borrowers move onto payment plans they can afford. The number of borrowers exiting the plans is expected to surge over com...ing weeks as people who signed up early on in the pandemic reach the 18-month limit for forbearance. While close to 80% of homeowners who entered programs at some point in the pandemic have since exited them, the remaining 20% tend to live in areas with higher shares of minorities, or have lower credit scores and lower incomes, research shows. - https://conta.cc/3vBH8vP See more

Pending Home Sales Unexpectedly Surge Higher, as the Housing Market Paves the Way for a Rebound The numbers: The number of home buyers who signed a contract to purchase a home in August jumped, far exceeding economists’ expectations. Pending home sales rose 8.1% in August compared with July, the National Association of Realtors reported Wednesday. Economists polled by MarketWatch had projected a 0.4% increase for pending home sales in August. Still, compared with a year ago, pending sales were down 8.3%, reflecting how much home-buying activity has fallen from the boom last summer and fall. ... https://conta.cc/3DL3wWd

‘The Fever Has Broken’: Is the Housing Market Frenzy Really Going To Cool Off This Fall? Over the next few weeks and months, the long-overheated U.S. housing market is expected to continue to cool off in the bracing chill of autumn. After a wild year of unprecedented price increases, a worsening shortage of homes for sale, and cutthroat bidding wars where offers six figures over the ask price weren’t uncommon, conditions are finally normalizing. More homes are expected to go... up for sale this season just as many would-be buyers are either priced out or so fed up after losing out on home after home that they’re dropping out of the running. ... https://conta.cc/3iLOaZH See more

Homebuyer Fatigue Hits the Housing Market as Prices Continue Soaring - Ron and Kathy Kern began looking in earnest for their forever home this past spring when their youngest child finished college. The couple hoped to trade their two-story, four-bedroom house in the Indianapolis suburbs for a smaller, one-floor ranch where they could more comfortably age in place... https://conta.cc/3kXOPZk

Americans are pissed about the housing market they haven't hated it this much in 4 decades - https://conta.cc/39CtY7m

Bidding Wars Reach Their Lowest Level This Year - Competition for homes on the market is lessening, which could provide an opening for home buyers who have been losing out amid this year’s bidding wars. In August, about 59% of offers on homes written by Redfin agents faced competition, which is a record low for this year and the lowest level since 2020, according to a Redfin analysis. That’s down from a peak of 74% in April. There have been additional recent signs that the ho...using market is cooling somewhat: Contract signings in July dropped, mortgage applications for home purchasesa gauge for future home buyinghave been easing, and more sellers are making price adjustments. Still, sellers continue to have the upper hand. The number of listings on the market is increasing but remains low compared with high buyer demand. Fifty percent of homes sold above their list price during the four weeks ending Sept. 5, according to Redfin. Eighty-nine percent of homes sold in July were on the market for less than a month, according to National Association of REALTORS data... https://conta.cc/3Et69x5