- Housing News
- April 2, 2021
Home Sales Slowdown Likely to Stretch into Spring
Spring is usually peak season for the housing market, but this year, sales may cool down instead of heating up.
Ben is the Managing Editor for New American Funding. In this role, Ben helps with content creation, news coverage, and serving our audience of borrowers, real estate agents, loan originators, and other housing professionals. Prior to joining New American Funding, Ben worked at HousingWire, a top housing media outlet. Ben joined HousingWire in 2014 as a reporter and was later promoted to Senior Financial Reporter, Editor, and eventually to Managing Editor. During his time at HousingWire, Ben helped elevate HousingWire to national acclaim and record traffic growth. He was also honored with multiple awards for his work, including an Eddie Award from Folio Magazine and a Gold Award for Best Trade Magazine Story from the National Association of Real Estate Editors.
Spring is usually peak season for the housing market, but this year, sales may cool down instead of heating up.
The improving health of the FHA's insurance fund has sparked speculation that mortgage insurance premiums could be reduced to ease costs for FHA borrowers.
Rising lumber costs have slowed new home construction and are now impacting home sales too.
Pending home sales data suggests existing home sales might slow due to "inventory constraints."
The housing market desperately needs more homes, but new construction is slowing down at a crucial time.
Millennials have been buying more homes than any other age group for some time now.
The fourth quarter was financially beneficial for homeowners, with a report showing a significant increase in average home equity.
Despite rising home prices, buying is often better than renting, say researchers from Florida Atlantic and Florida International Universities.
A lack of inventory has consistently held back housing from reaching greater heights over the past year.
With mortgage rates below 3%, the industry just had its best quarter since at least 2000.