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Softening and market slowdown are the new emerging keyphrases for where the housing market is headed. More sellers are coming onto the market, slowly addressing the inventory challenge and slowing home price growth, according to the latest Weekly Housing Trends report from realtor.com®.
– The median listing price increased 10.3% YoY—the 50th consecutive week of double-digit growth
In a break from historical trends, U.S. home-sale profits for sellers dipped in the second quarter of 2021—although they remain healthy YoY, according to a new report from ATTOM Data Solutions.
– A typical single-family home and condo sale in the U.S in Q2 generated a profit of about $94,500, an increase from $90k in Q1 and from $60,572 at the same time last year.
– For a median-priced condo, the average return on investment in Q2 declined to 44.9% from 48.4% in the first quarter.
The 30-year fixed-rate mortgage is averaging 2.80%, according to the latest Private Mortgage Market Survey from Freddie Mac.
The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac are extending the eviction moratorium for single-family, real estate-owned (REO) properties until Sept. 30, 2021.
The REO eviction moratorium applies to properties that have been acquired by Fannie or Freddie through foreclosure or deed-in-lieu of foreclosure transactions. The current moratorium was set to expire on July 31, 2021.