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Home Prices Could Continue to Rise Into 2023, Says Bank of America

Pro Builder

Home Prices Could Continue to Rise Into 2023, Says Bank of America. The Federal Reserve is preparing to increase mortgage rates to tame elevated inflation, but higher rates still won’t be enough to stop another year of strong price growth in the housing market, Fortune says. Bank of America predicts that home prices across the U.S.

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Mortgage Banks Reported Negative Profits for the First Time Ever in 2022

Pro Builder

The 2022 deficit represents a 113% decrease from the previous year's average income of $2,339 per mortgage. Negative profits in 2022 are likely a result of slower housing activity caused by higher financing costs coupled with elevated home prices, leading to lower purchase and refinance volume.

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The State of US Housing: Joint Center for Housing Studies Perspective

Pro Builder

The State of US Housing: Joint Center for Housing Studies Perspective ibush Wed, 02/22/2023 - 07:00 The Center's managing director outlines the nation's housing challenges for the Senate Banking, Housing, and Urban Affairs Committee as it works to set its agenda Testifying before the Senate Banking, Housing, and Urban Affairs Committee on Feb.

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Hill Group counts on partnership housing to drive growth

Construction Enquirer

The UK’s second largest privately owned house builder Hill Group is primed to take advantage of fresh market opportunities arising from a challenging housing market after building up a £132m cash chest. The firm also holds a £220m development funding facility with four high street banks.

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Central Bank Isn’t Backing Down—More Rate Hikes Ahead in 2023

Pro Builder

After a year of waning housing affordability driven by steady interest rate gains and historically high home prices, the latest announcement confirms that a post-pandemic market correction is far from over. Incoming inflation data, however, could lower—or raise—these forecasts. Overall inflation hit a 41-year high of 9.1%

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US Housing Affordability Is Worse Now Than It Was in 2008

Pro Builder

In fact, according to the Federal Reserve Bank of Atlanta, housing affordability is worse now than it was at any point in the lead up to the housing bubble in 2008, but a number of housing experts say the worst of an affordability crisis may already be behind us. How can housing affordability be improved heading forward?

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Solutions to Housing Affordability

Pro Builder

Solutions to Housing Affordability. So when I gave you, our readers, the opportunity to submit a write-in response to the question: “What’s needed to enable more affordable housing?” within our annual housing forecast survey (see the results on page 17), I got what I deserved from more than 300 of you. Housing Markets.

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