More Than 85% of Metro Areas Registered Home Price Increases in Fourth Quarter of 2023
WASHINGTON (February 8, 2024) – More than 85% of metro markets (189 out of 221) registered home price increases in the fourth quarter of 2023 as the 30-year fixed mortgage rate dropped from 7.79% to 6.61%, according to the National Association of REALTORS®' latest quarterly report. Fifteen percent of the 221 tracked metro areas experienced double-digit price gains over the same period, up from 11% in the third quarter. "Homeowners have benefited from housing wealth accumulation. However, many homebuyers have been shocked at high housing costs, with a typical monthly mortgage payment rising from $1,000 three years ago to more than $2,000 last year," said NAR Chief Economist Lawrence Yun. "This doubling in housing costs for recent home buyers is not included in the official consumer price index inflation calculations and contributes to the sense of dissatisfaction about the economy." Compared to one year ago, the national median single-family existing-home price grew 3.5% to $391,700. In the prior quarter, the year-over-year national median price increased 2.2%. Among the major U.S. regions, the South posted the largest share of single-family existing-home sales (45%) in the fourth quarter, with year-over-year price appreciation of 3.2%. Prices also climbed 7.3% in the Northeast, 4.7% in the Midwest and 4.2% in the West. "Sales were restrained due to limited inventory," Yun said. "But increased homebuilding, along with lower mortgage rates, will not only improve housing affordability but also help bring more homes onto the market in 2024." The top 10 metro areas with the largest year-over-year median price increases, which can be influenced by the types of homes sold during the quarter, all recorded gains of at least 14.8%. Those include Dayton, Ohio (19.9%); Kingsport-Bristol-Bristol, Tenn.-Va. (19.2%); Fond du Lac, Wis. (18.6%); Trenton, N.J. (17.3%); Salinas, Calif. (17.1%); Newark, N.J.-Pa. (16.7%); Anniston-Oxford, Ala. (15.7%); Bloomington, Ill. (15.4%); Johnson City, Tenn. (15.2%); and Anaheim-Santa Ana-Irvine, Calif. (14.8%). Eight of the top 10 most expensive markets in the U.S. were in California. Overall, those markets are San Jose-Sunnyvale-Santa Clara, Calif. ($1,750,300; 11%); Anaheim-Santa Ana-Irvine, Calif. ($1,299,500; 14.8%); San Francisco-Oakland-Hayward, Calif. ($1,251,000; 4.3%); Urban Honolulu, Hawaii ($1,069,400; -1.9%); Salinas, Calif. ($993,900; 17.1%); San Diego-Carlsbad, Calif. ($931,600; 8.7%); Oxnard-Thousand Oaks-Ventura, Calif. ($916,800; 7.9%); San Luis Obispo-Paso Robles, Calif. ($912,100; 5.7%); Los Angeles-Long Beach-Glendale, Calif. ($884,400; 6.7%); and Boulder, Colo. ($849,400; 11.8%). Less than one-fifth of markets (14%; 32 of 221) experienced home price declines in the fourth quarter, down from 17% in the third quarter. Housing affordability marginally improved in the fourth quarter on the back of declining mortgage rates. The monthly mortgage payment on a typical existing single-family home with a 20% down payment was $2,163, down 1.2% from the third quarter ($2,189) but up 10% – or $196 – from one year ago. Families typically spent 26.1% of their income on mortgage payments, down from 26.7% in the previous quarter but up from 24.2% one year ago. Lack of inventory and affordability continued to impact first-time buyers during the fourth quarter. For a typical starter home valued at $332,900 with a 10% down payment loan, the monthly mortgage payment fell slightly to $2,120, down 1.2% from the prior quarter ($2,146). However, that was an increase of $190, or 9.8%, from one year ago ($1,930). First-time buyers typically spent 39.4% of their family income on mortgage payments, down from 40.3% in the prior quarter. A family needed a qualifying income of at least $100,000 to afford a 10% down payment mortgage in 47.1% of markets, up from 45.7% in the previous quarter. Yet, a family needed a qualifying income of less than $50,000 to afford a home in 2.3% of markets, down from 2.7% in the prior quarter. About the National Association of REALTORS® The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.

Home Affordability Remains Difficult Across U.S. During Fourth Quarter Even as Prices Dip Downward
Major Home-Ownership Expenses Again Require One-Third of Average Wage Nationwide, a 16-Year High; Historical Affordability Also Stays at Worst Point Since 2007; But Both Measures End Nearly Three-Year Slide Amid Mixed Trends in Home Prices and Mortgage Rates IRVINE, Calif. – Dec. 21, 2023 — ATTOM, a leading curator of land, property, and real estate data, today released its fourth-quarter 2023 U.S. Home Affordability Report showing that median-priced single-family homes and condos remain less affordable in the fourth quarter of 2023 compared to historical averages in 99 percent of counties around the nation with enough data to analyze. The latest trend continues a pattern dating back to 2021 of home ownership requiring historically large portions of wages around the country. WATCH: ATTOM Q4 2023 U.S. HOME AFFORDABILITY REPORT The report also shows that major expenses on median-priced homes consume 33.7 percent of the average national wage in the fourth quarter – a level considered unaffordable by common lending standards. Both measures – historical and current affordability – have stayed virtually the same from the third quarter to the fourth quarter of this year after trending consistently against home buyers for almost three years. That has happened as major ownership expenses and wages both are virtually unchanged this quarter. But the two measures are still worse than they were a year ago and far weaker than in 2021. For example, the portion of average wages nationwide required for typical mortgage payments, property taxes and insurance are up three percentage points from a year ago and 12 points from early in 2021, right before home-mortgage rates began shooting up from their lowest levels in decades. The latest expense-to-wage ratio continues to sit above the 28 percent level preferred by mortgage lenders and marks the highest point since 2007. "The good news is that home affordability has stopped getting tougher around the U.S., at least for the moment. The bad news is that owning a home remains more of a financial stretch than it's been for many years," said Rob Barber, CEO for ATTOM. "The annual Fall slowdown in the housing market clearly has helped stem the tide working against potential purchasers. Whether that's just a temporary thing tied to seasonal market patterns is something we won't know until next year, especially given recent signs that interest rates are coming down. But for now, there is some break into the growing financial stress for house hunters." The fourth-quarter trends come at a time of mixed patterns among home prices and home-mortgage interest rates. While average 30-year fixed mortgage rates around the U.S. have grown this quarter from 7.1 to 7.4 percent, the nationwide median home value has slipped almost 3 percent. Those two factors have helped to keep home ownership expenses steady from the third to the fourth quarter, which has helped to keep those costs from becoming even more unaffordable for average workers. Affordability had worsened almost every prior quarter since early 2021 as wage increases were outpaced by rising interest rates and prices that kept going up amid a decade-long market boom. Another round of price declines during the annual Winter market contraction combined with interest rate declines that have emerged very recently may help turn the affordability picture back around in favor of buyers. The report determined affordability for average wage earners by calculating the amount of income needed to meet major monthly home ownership expenses — including mortgage payments, property taxes and insurance — on a median-priced single-family home, assuming a 20 percent down payment and a 28 percent maximum "front-end" debt-to-income ratio. That required income was then compared to annualized average weekly wage data from the U.S. Bureau of Labor Statistics (see full methodology below). Compared to historical levels, median home ownership costs in 572 of the 580 counties analyzed in the fourth quarter of 2023 are less affordable than in the past. That number is virtually the same as in the third quarter of this year and up slightly from the fourth quarter of last year, but more than double the figure from two years ago. Meanwhile, the portion of average local wages consumed by major home-ownership expenses on typical homes is considered unaffordable during the fourth quarter of 2023 in more than three-quarters of the 580 counties in the report, based on the 28 percent guideline. Counties with the largest populations that are unaffordable in the fourth quarter are Los Angeles County, CA; Maricopa County (Phoenix), AZ; San Diego County, CA; Orange County, CA (outside Los Angeles) and Kings County (Brooklyn), NY. The most populous of the 130 counties where major expenses on median-priced homes are still affordable for average local workers in the fourth quarter of 2023 are Cook County (Chicago), IL; Harris County (Houston), TX; Wayne County (Detroit), MI; Philadelphia, County, PA, and Cuyahoga County (Cleveland), OH. Home prices decline quarterly but remain up annually in three-quarters of local markets After jumping almost 10 percent during this year's Spring and Summer home-buying season, the national median price for single-family homes and condos has decreased from $344,670 in the third quarter of 2023 to $335,000 in the fourth quarter. However, it is still up 6 percent from $316,000 in the fourth quarter of 2022. Data was analyzed for counties with a population of at least 100,000 and at least 50 single-family home and condo sales in the fourth quarter of 2023. Among the 47 counties in the report with a population of at least 1 million, the biggest year-over-year increases in median prices during the fourth quarter of 2023 are in Orange County, CA (outside Los Angeles) (up 14.7 percent); Fulton County (Atlanta), GA (up 14.7 percent); Broward County (Fort Lauderdale), FL (up 10.6 percent); Santa Clara County (San Jose), CA (up 10.4 percent) and Palm Beach County (West Palm Beach), FL (up 10.4 percent). Counties with a population of at least 1 million where median prices remain down the most from the fourth quarter of 2022 to the same period this year are New York County (Manhattan), NY (down 10.3 percent); Travis County (Austin), TX (down 3.4 percent); Queens County, NY (down 2.9 percent); Bexar County (San Antonio), TX (down 2.6 percent) and Philadelphia County, PA (down 1.9 percent). Prices growing faster than wages in half the U.S. While home values have settled down around the U.S. housing market, annual price changes still have outpaced changes in weekly annualized wages during the fourth quarter of this year in 294, or 50.7 percent, of the 580 counties analyzed in the report. That was down slightly from the fourth quarter of 2022 when prices were growing faster annually than wages in 56 percent of the same counties. The current group of counties where prices are increasing more than wages annually, or decreasing less, include Los Angeles County, CA; Cook County, (Chicago), IL; San Diego County, CA; Orange County, CA (outside Los Angeles) and Kings County (Brooklyn), NY. Year-over-year changes in average annualized wages have bested price movements during the fourth quarter of 2023 in 286 of the 580 counties analyzed (49.3 percent). The latest group where wages are increasing more, or declining less, than prices include Harris County (Houston), TX; Maricopa County (Phoenix), AZ; Dallas County, TX; Riverside County, CA, and Queens County, NY. Portion of wages needed for home ownership still up annually in most of nation Amid interest rates ticking up but home values inching down, the portion of average local wages consumed by major expenses on median-priced, single-family homes has grown from the third to the fourth quarter of 2023 in just 54.7 percent of the 580 counties analyzed. However, it remains up annually in 88.8 percent of those markets. The typical $2,016 cost of mortgage payments, homeowner insurance, mortgage insurance and property taxes nationwide consumes 33.7 percent of the average annual national wage of $71,708 this quarter. That remains the same as in the third quarter of 2023, as expenses and average wages both have risen less than 1 percent from the third to the fourth quarter. But the latest portion is up from 30.9 percent in the fourth quarter of last year and is far above the recent low point of 21.4 percent hit in the first quarter of 2021. The latest figure exceeds the 28 percent lending guideline in 450, or 77.6 percent, of the counties analyzed, assuming a 20 percent down payment. That is virtually unchanged from 78.3 percent of the same group of counties in the third quarter but up from 71 percent two years ago and more than twice the 31 percent level in early 2021. In slightly more than a third of the markets analyzed, major expenses consume at least 43 percent of average local wages – an amount considered seriously unaffordable. "This remains among the most important bits of fallout from the double-whammy of higher prices and mortgage rates over the past few years," Barber said. "Even though there are signs of better times for buyers this quarter, the high expense-to-wage ratio is still a stretch in most of the country for average workers who don't have a lot of other financial resources like significant savings or investments. Lenders will often push the 28 percent rule, especially if buyers have lots of financial resources outside of wages, we now are seeing fully three-quarters of markets around the country pushing the basic lending benchmark." Home ownership on the northeast and west coasts still eats up largest chunk of wages The top 20 counties where major ownership costs require the largest percentage of average local wages are again in the Northeast or the west coast. The leaders are Kings County (Brooklyn), NY (114 percent of annualized local wages needed to buy a single-family home); Santa Cruz County, CA (112.2 percent); Marin County, CA (outside San Francisco) (109.8 percent); San Luis Obispo County, CA (103.9 percent) and Monterey County, CA (100.8 percent). Aside from Kings County, those with a population of at least 1 million where major ownership expenses typically consume more than 28 percent of average local wages in the fourth quarter of 2023 include Orange County, CA (outside Los Angeles) (98.9 percent required); Alameda County (Oakland), CA (81 percent); Queens County, NY (80.8 percent) and Nassau County (Long Island), NY (77.2 percent). Counties where the smallest portion of average local wages are required to afford the median-priced home during the fourth quarter of this year are Cambria County, PA (east of Pittsburgh) (11.8 percent of annualized weekly wages needed to buy a home); Macon County (Decatur), IL (11.8 percent); St. Lawrence County (Canton), NY (12.3 percent); Peoria County, IL (13.5 percent) and Schuylkill County, PA (outside Allentown) (14.7 percent). Counties with a population of at least 1 million where major ownership expenses typically consume less than 28 percent of average local wages in the fourth quarter of 2023 include Wayne County (Detroit), MI (16 percent); Philadelphia County, PA (18.7 percent); Cuyahoga County (Cleveland), OH (20.2 percent); Allegheny County (Pittsburgh), PA (20.5 percent) and St. Louis County, MO (23.3 percent). Annual wages of more than $75,000 needed to afford typical home in nearly 60 percent of county markets Annual wages of more than $75,000 are needed to pay for major costs on the median-priced homes purchased during the fourth quarter of 2023 in 332, or 57.2 percent, of the 580 markets in the report. By contrast, just 11 percent of the counties reviewed have average annual wages that high. Looked at another way, the $86,404 income needed to afford a median-priced home in the U.S. is 20.5 percent more than the latest average national wage. The 20 highest annual wages required to afford typical homes are all on the east or west coasts, led by San Mateo County (outside San Francisco), CA ($392,418); Santa Clara County (San Jose), CA ($364,099); New York County (Manhattan), NY ($360,177); Marin County (outside San Francisco), CA ($356,537) and San Francisco County, CA ($327,652). The lowest annual wages required to afford a median-priced home in the fourth quarter of 2023 are in Cambria County, PA (east of Pittsburgh) ($19,978); St. Lawrence County (Canton), NY ($25,275); Schuylkill County, PA (outside Allentown) ($27,325); Mercer County, PA ($27,565) and Macon County (Decatur), IL ($28,655). Almost all local markets historically less affordable this quarter Among the 580 counties analyzed, 572, or 98.6 percent, are less affordable in the fourth quarter of 2023 than their historic affordability averages. That is almost the same as the 98.8 percent level of a year ago but double the 48.7 percent figure from the fourth quarter of 2021. Historical indexes have worsened since the fourth quarter of last year annually in 88.8 percent of those counties, pushing the nationwide index to its lowest point since 2007. Counties with a population of at least 1 million that are less affordable than their historic averages (indexes of less than 100 are considered historically less affordable) include Fulton County (Atlanta), GA (index of 60); Mecklenburg County (Charlotte), NC (60); Wayne County (Detroit), MI (62); Hillsborough County (Tampa), FL (62) and Collin County (Plano), TX (63). Counties with the worst affordability indexes in the fourth quarter of 2023 include Newton County, GA (outside Atlanta) (index of 50); Jackson County, MS (index of 50); Paulding County, GA (outside Marietta) (52); St. Lucie County (Port St. Lucie), FL (53) and Forsyth County, GA (outside Atlanta) (54). Only 1 percent of markets are more affordable than historic averages Only eight of the 580 counties in the report, (1.4 percent), are more affordable than their historic averages in the fourth quarter of 2023. That is about the same as in the third quarter of this year, but less than the 12.1 percent level a year ago and far worse than the 51.3 percent that were historically more affordable in the fourth quarter of 2021. Counties that are more affordable in the fourth quarter of this year compared to historical averages include Macon County (Decatur), IL (index of 132); New York County (Manhattan), NY (114); San Francisco County, CA (107); Ector County (Odessa), TX (105) and Mercer County, PA (105). Report Methodology The ATTOM U.S. Home Affordability Index analyzed median home prices derived from publicly recorded sales deed data collected by ATTOM and average wage data from the U.S. Bureau of Labor Statistics in 580 U.S. counties with a combined population of 257.3 million during the fourth quarter of 2023. The affordability index is based on the percentage of average wages needed to pay for major expenses on a median-priced home with a 30-year fixed-rate mortgage and a 20 percent down payment. Those expenses include property taxes, home insurance, mortgage payments and mortgage insurance. Average 30-year fixed interest rates from the Freddie Mac Primary Mortgage Market Survey were used to calculate monthly house payments. The report determined affordability for average wage earners by calculating the amount of income needed for major home-ownership expenses on median-priced homes, assuming a loan of 80 percent of the purchase price and a 28 percent maximum "front-end" debt-to-income ratio. For example, the nationwide median home price of $335,000 in the fourth quarter of 2023 requires an annual wage of $86,404. That is based on a $67,000 down payment, a $268,000 loan and monthly expenses not exceeding the 28 percent barrier — meaning wage earners would not be spending more than 28 percent of their pay on mortgage payments, property taxes and insurance. That required income is more than the $71,708 average wage nationwide, based on the most recent average weekly wage data available from the Bureau of Labor Statistics, making a median-priced home nationwide unaffordable for average workers. About ATTOM ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, property navigator and more. Also, introducing our newest innovative solution, that offers immediate access and streamlines data management – ATTOM Cloud.

Small Northeast towns reign supreme as Zillow's 2023 most popular markets
West Chester, Pennsylvania, ranked as Zillow shoppers' favorite market of 2023 SEATTLE, Dec. 19, 2023 -- The most popular market among Zillow® surfers this year was West Chester, Pennsylvania. After the West Coast ruled in 2021 and the Midwest took the top spot last year, the Northeast dominated this year's list. Zillow surfers generally gravitated toward smaller cities in 2023. Of the 10 most popular markets, only one — Manchester, New Hampshire — has a population of more than 100,000, and most have less than half that number. The top 10 most popular markets of 2023 on Zillow: West Chester, Pennsylvania Nashua, New Hampshire Manchester, New Hampshire Wethersfield, Connecticut West Hartford, Connecticut Stow, Ohio Middletown, Connecticut Twinsburg, Ohio Newington, Connecticut Concord, New Hampshire Chula Vista, California, won out for most popular large city. South Portland, Maine, was the most popular seaside town, while Vermilion, Ohio, took the top spot among vacation towns. North Carolina's Pinehurst edged out Hilton Head Island, South Carolina, for the top retirement town. West Chester also ranked first among college towns, with Kent, Ohio, coming in just behind it. "Affordability was the word on home shoppers' minds this year, and it shows in the most popular cities that buyers on Zillow gravitated toward," said Zillow Chief Economist Skylar Olsen. "Heading into next year, the winds appear to be shifting just a bit. Buying a home will still be expensive in much of the country, but more listings and much flatter home price growth will make life easier for home shoppers." To rank the most popular markets among Zillow surfers, Zillow analyzed housing metrics that indicate consumer demand — including page-view traffic, home value growth and days on market — for nearly 2,300 U.S. cities. Most popular on Zillow overall: West Chester, Pennsylvania West Chester, Pennsylvania, a quaint town of about 20,000 people near Philadelphia, took the top spot in Zillow's list of 2023's most popular markets. Strong interest among home shoppers on Zillow has helped push West Chester home values about 8% higher over the past year. The typical home in West Chester is worth about $584,000, putting it among the more expensive cities in Pennsylvania. But given its relative affordability compared to larger markets nearby, such as New York City and Washington, D.C., those looking for a break from city life may see West Chester as an attractive and affordable place to call home. West Chester ranked within the top 100 cities in Zillow page views per listing in Zillow's rankings, far outperforming its size. Almost two-thirds of those views came from outside the city, possibly signaling interest in moving there. While West Chester took the top spot, New England towns were the favorite among Zillow surfers this year: Seven of the 10 most popular markets of 2023 were in either New Hampshire or Connecticut. Most popular large city: Chula Vista, California While affordability ruled the day for many home shoppers on Zillow, the San Diego area also had a strong pull. Chula Vista, just south of San Diego, was the most popular large city — those with a population of 250,000 or greater — among Zillow surfers. The typical home in Chula Vista is worth about $808,000. San Diego itself, with a typical home value of about $962,000, ranked third. Fort Wayne, Indiana, took second in Zillow's most popular large cities ranking. Cincinnati and Durham, North Carolina, were fourth and fifth, respectively. Most popular seaside town: South Portland, Maine South Portland was the most popular seaside town among Zillow surfers this year. Buyers eyeing a home in South Portland must move quickly; homes that sold there in 2023 typically found a buyer after just one week on the market. Two Connecticut cities — West Haven and Milford — were the second- and third-most-popular seaside towns this year. Oceanside, California, was the top Pacific Ocean destination, ranking fourth overall. Most popular vacation town: Vermilion, Ohio Situated along the shore of Lake Erie, Vermilion came out on top in Zillow's rankings of the most popular vacation towns this year. Vermilion is a popular summer destination for boaters and those looking for a city with old-fashioned charm. This year's results may reflect the impact that higher mortgage rates are having on even those shopping for a vacation home. While last year's most popular vacation town, Lavallette, New Jersey, boasts a typical home value of more than $1 million, the typical home in Vermilion is worth a little more than $225,000. Most popular retirement town: Pinehurst, North Carolina While Florida held the top spots for Zillow's most popular retirement towns last year, the Carolinas took the crown this year. Pinehurst was the most popular retirement town among Zillow surfers in 2023, edging out Hilton Head Island, South Carolina. With warm climates and golf courses galore, it's easy to see why both cities are popular among retirees. Most popular college towns: West Chester, Pennsylvania, and Kent, Ohio Zillow's most popular market overall for 2023, West Chester, also took the title of the most popular college town, as the home of West Chester University. Coming in second was Kent, Ohio, with Kent State University. Rounding out the top five were Newark, Delaware (University of Delaware); San Luis Obispo, California (California Polytechnic State University); and Ypsilanti, Michigan (Eastern Michigan University). About Zillow Group Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make home a reality for more and more people. As the most visited real estate website in the United States, Zillow and its affiliates help people find and get the home they want by connecting them with digital solutions, great partners, and easier buying, selling, financing and renting experiences. Zillow Group's affiliates, subsidiaries and brands include Zillow®, Zillow Premier Agent®, Zillow Home Loans℠, Trulia®, Out East®, StreetEasy®, HotPads®, ShowingTime+℠, and Spruce®.

Introducing RealStat: The Insightful Solution for Real Estate Professionals
From the award-winning data platform, Revaluate Golden, CO (November 9, 2023) – Revaluate, is artificial intelligence, insight and data for the real estate and mortgage industry that segments lists and databases for marketers by propensity to move, is proud to introduce "RealStat," a groundbreaking solution designed to empower real estate professionals, teams and the industry. It's available starting on Thursday November 9th. Real estate professionals are all too familiar with the sinking feeling of losing a potential sale to another agent. Whether it's the drive-by with another agent's sign in the yard or a social media post revealing that your past client's property listed with a different agent, especially in this market where each listing is more valuable, the agony of missed opportunities can be unbearable. In the competitive world of real estate, it's crucial to have the right tools and insights to stay ahead of the game. "The primary problem that RealStat addresses is the need for a comprehensive and real-time view of the active listings within a real estate professional's client database. This new product offers an instant and accurate health check of what's happening within your client database. Never before has the industry had access to such a level of insight," said Chris Drayer, CEO & Co-founder of Revaluate. RealStat is a digital coach, a live dashboard that provides real estate professionals with the information they need to make informed decisions, find listings and stay competitive in the market. It offers a wide range of benefits, including: Grades the Database Quality: RealStat allows you to audit your database for completeness. Identifies opportunities for Growth: Displays lost commissions over the last 12 months offering a snapshot of how your marketing to your database is performing so you can see the opportunities at your disposal. Effectiveness of Outgoing Marketing: RealStat allows real estate professionals to measure the effectiveness of their marketing efforts, providing valuable insights into what works and what doesn't. Measuring the Effectiveness of Prior Marketing: Without measurement, it's impossible to know which marketing strategies are delivering results. RealStat helps bridge this gap. Identifying Expireds and Potential Listings in Your Database: RealStat can identify people in your database who have listed their properties, with or without your assistance. Enhanced Contact Information: By using RealStat, you can ensure that your contact data, including physical addresses and email addresses, is more complete and accurate. Compliance with Marketing Regulations: RealStat helps agents avoid marketing to individuals with active listings, reducing the risk of violating regulations and facing fines. Expert Guidance: The Revaluate Lab connects you with industry experts who can provide insights into additional automation, systems and scripts to get more listings. Geography Visualization: RealStat allows you to visually see where your database is on a map - along with where your marketing is working and not working. RealStat seamlessly integrates with Revaluate's award-winning and trusted AI platform, which predicts likely movers and offers top-tier contact data quality. Together, this powerful combination validates whether real estate professionals are effectively staying in front of their clients or losing them along the way. "Revaluate is so far ahead in its thinking and knows how to provide the data that is critical for me to build my real estate business the way it needs to be built." said Barry Jenkins, CMO and owner of Better Homes and Gardens NAGR in Virginia Beach. RealStat is set to become an invaluable tool for real estate professionals seeking to gain a competitive edge, enhance their marketing strategies, and improve their database management. Revaluate is proud to introduce this new solution to the real estate industry, enabling professionals to prevent missed opportunities and secure their sales. For more information about RealStat and Revaluate, please visit https://revaluate.com/talk About Revaluate Revaluate is artificial intelligence for the real estate and mortgage industry. Revaluate segments lists and databases for marketers by propensity to move. The award winning third-party validated accuracy is the best in the industry at identifying people who are likely to move in the next six months.

Plunk Partners with Award-Winning Marketing Platforms to Deliver AI-Powered Analytics Across Multiple Digital Channels
Union Street Media and Realforce join Plunk's growing list of partners to deliver real-time housing market insights to target audiences BELLEVUE, Wash. , Sept. 26, 2023 -- Plunk, the world's first AI-powered analytics platform for residential real estate, announced a partnership with two of the real estate industry's top marketing platforms. Union Street Media is the leader in omnichannel marketing, providing integrated campaigns across web, mobile, voice, search engine optimization and social media. Realforce (previously Adfenix) is modernizing the marketing infrastructure by streamlining the martech stack for real estate teams. "We believe that AI-powered, real-time data and analytics will become the industry standard within the next five years," predicted Ted Adler, a marketing visionary and Founder of Union Street Media. "With Plunk, we're getting ahead of that adoption curve and delivering home valuation, remodeling analytics and market insights to our target audiences across every digital medium — right now." The housing market is in constant flux and Plunk's AI-powered home analytics platform is transforming the speed at which buying and selling decisions are made, by offering up-to-the-second insights into home valuation, risk assessment and remodeling possibilities. These partnerships set a precedent for greater access to real-time data in an industry that has historically experienced challenges with providing timely and accurate data. It also sets a new bar for more efficient delivery of relevant data to current and potential customers. "Through this strategic partnership with Plunk, we aim to address a longstanding challenge in the real estate industry: the generation of high-quality leads with a measurable and positive return on investment," added Philip Hegge, US Director, Realforce. "Not only does this enhance the consumer experience, but it also simultaneously delivers top-tier leads that drive business for brokerages and agents." To gain access to Union Street Media's marketing channels: www.unionstreetmedia.com/plunk. To learn more about Realforce's streamlined marketing solutions: www.realforce.com. To get sample code for Plunk's AI-powered APIs: www.getplunk.com/developers. About Plunk Plunk is bringing advanced analytics and unique data to residential real estate for more confident investing in the largest asset class in the world. Harnessing the power of Artificial Intelligence, computer vision and deep learning, Plunk delivers real-time insights into home valuation, risk assessment and remodeling analysis through its SaaS platform. For more information, visit www.getplunk.com. About Union Street Media Union Street Media is the first real estate marketing company to leverage the power of omnichannel marketing, driving success for real estate professionals for nearly three decades. With an unwavering focus on innovation and customer service, Union Street Media provides tailored solutions that seamlessly blend technology with creativity. For more information, visit www.unionstreetmedia.com. About Realforce Realforce (previously Adfenix) is the top platform for Marketing Automation in the real estate industry. Globally, Realforce works with over 350 brands, including some of the biggest names in the field. Its automated solutions are designed to streamline marketing programs, boost brand impact and aid in the success of agents. For more information, visit www.realforce.com.

Local Logic and Plunk Partner to Enhance Data Insights for Residential Real Estate
Location intelligence leader to combine insights with AI-powered home analytics platform to provide the most comprehensive property analysis for the US residential real estate market MONTREAL, Sept. 12, 2023 -- Local Logic, a location intelligence leader that quantifies location at scale to shape smarter developments and more sustainable cities, today announced a partnership with Plunk, a company bringing advanced analytics to residential real estate for more confident investing in the largest asset class in the world. In an increasingly competitive market, the data and insights from this partnership will enable real estate investors, agents, and homeowners to accelerate and improve purchasing decisions. Plunk's AI-powered home analytics platform aims to transform the real estate market by offering real-time insights into home valuation, risk assessment, and remodeling possibilities. Local Logic's core offering provides crucial and often overlooked information on the property's location, including historical and demographic insights. Combined, this synergistic partnership will provide users with all the information on the property and its location to drive better decision-making for investors and home buyers and create a more efficient workflow for agents. "Real-time data and localized market insights play a crucial role to investors, homeowners, and real estate professionals," shares Brian Lent, co-founder and CEO of Plunk. "Plunk and Local Logic strive to fully power the residential market with the information it needs to grow exponentially. Combining our efforts will drive a new level of innovation in the industry." Local Logic has a reputation for partnering with some of the most prestigious tech vendors in the residential real estate industry, such as Black Knight, Constellation1, CoreLogic, Inside Real Estate, and MoxiCloud. As a leading insights provider for the real estate industry, Local Logic brings in unparalleled expertise and granularity. "Plunk has created industry-leading data solutions in the residential space," says Vincent-Charles Hodder, co-founder and CEO of Local Logic. "This partnership will further drive our mission to empower end-users with the technology and insights they need to make better-informed real estate decisions." This partnership comes off the heels of a $13 million Series B financing round with the primary goal of further quantifying the role that location plays in the success of real estate investments and arming investors with definitive data that will enable them to make the best possible decisions. Additionally, Local Logic plans to continue expanding strategic partnerships with broker sites and MLS organizations to further impact residential real estate decision-making. For more information on Local Logic's solutions, please visit locallogic.co. About Plunk Plunk is the first AI-powered, real-time home analytics platform leveraging next-generation applications of Artificial Intelligence, machine learning and image analysis to revolutionize the way homeowners, real estate professionals and investors value and invest in residential real estate. For more information, please visit www.getplunk.com. About Local Logic Local Logic is a location intelligence platform that digitizes the built world for consumers, investors, developers, and governments – delivering unrivaled clarity and actionable insights capable of creating more sustainable, equitable cities. With more than 75 billion unique data points – the largest unique location data set in the U.S. and Canada – the platform creates a digital twin of cities, quantifying the built world and offering predictive, precise analytics to inform the present and future of over 250 million individual addresses.

Revive introduces 'Revive Vision AI,' an AI-powered Listing Tool for Real Estate Professionals
Blending computer vision with advanced machine learning techniques for more data-driven decision making IRVINE, Calif., Sept. 6, 2023 -- At the heart of every real estate transaction rooted in maximizing ROI, real estate professionals and sellers must understand the property's current value, its comparison to neighborhood comparable, its maximum potential value, necessary improvements to achieve that value, their estimated costs, and the expected ROI on improvements made. Today marks a significant advancement in the artificial intelligence tools available to real estate professionals. For the first time, agents can leverage the unparalleled speed and efficiency of AI-powered insights backed by award-winning computer vision technology that incorporates the current condition of a home to help determine a more accurate current value and maximum potential value than a traditional automated valuation model (AVM). Introducing "Revive Vision AI" from Revive – the most advanced pre-sale home renovation solution. This industry-first smart tool analyzes property photos to assess a property's current value and renovation potential, utilizing Revive's renovation recommendation engine to provide estimates backed by local contractors that maximize listing values. Think smart CMA meets AI-powered AVM, providing a more detailed foundation for discussions to help agents with their listing and pricing strategy. Revive is inviting early adopters to use Revive Vision AI - now in beta testing (join the waitlist) – which provides a comprehensive assessment of a property's potential, providing a detailed plan and overview that includes: Current Condition Home Value: The estimated current market value of the property in its existing condition, without any renovations or improvements. Future ARV (After-Remodeled Value): The projected market value of the property after completing the recommended renovations and improvements outlined in the renovation plan. Potential Score: A score that signals the property's value-add potential; a higher score means greater opportunity, while a lower score indicates limited opportunities for enhancement relative to its surroundings. Renovation Scope & Budget: A detailed outline of the recommended renovations and improvements, including specific tasks and estimated contractor-backed costs for each item. Renovation Investment Plan: A comprehensive plan that outlines the estimated profit potential for the homeowner if they choose to complete the recommended renovations before selling the property. "Agents are the powerhouse of the real estate industry, and sellers expect them to be knowledgeable on all things real estate," said Michael Alladawi, CEO and Co-Founder at Revive. "Revive Vision AI is an easy way for real estate professionals to present more detailed and accurate information to their clients in a digestible, easy-to-understand way," he added. The Vision AI process is simple: Real estate agents upload at least 10 photos of their client's property into the Revive admin dashboard via the mobile app or desktop. Second, Vision AI compares the subject property with similar homes in the area by analyzing photos available in MLS records. Next, the data obtained from the photo analysis and comparative analysis is processed using advanced machine learning algorithms. This enables Vision AI to generate accurate estimates of renovation costs, potential market value, and projected return on investment. Lastly, a report is generated providing investment insights and recommended home improvements. Revive Vision AI brings all of the most important pieces of information needed for real estate professionals and sellers to make an informed decision that meets their specific goals. "Revive Vision AI is delivering what may be one of the most practical and valuable uses of AI in real estate available today," said Dalip Jaggi, COO and co-founder at Revive, who spearheads its technology development, adding, "By leveraging computer vision and machine learning, we're able to show homeowners how a pre-sale renovation may significantly increase their wealth. We are fundamentally improving the listing conversation real estate professionals will have with their clients, helping sellers make better decisions through real data." Jaggi notes that Revive Vision AI delivers additional business benefits, including: Foundation for discussion: The Vision AI report serves as a starting point, fostering meaningful conversations with clients about their property's potential and the best strategies to realize it. Confidence and credibility: Whether you're using Vision AI to obtain knowledge or use it as confirmation of things already known, or an illustrative educational tool with your clients, you will be able to speak with confidence and credibility, knowing you are making decisions backed by empirical data and professional analysis. Competitive advantage: By utilizing Vision AI as an early adopter, you will be one of the first professionals using machine learning and computer vision technology to help guide and confirm listing and pricing strategies. Quick property assessment: Within seconds, agents can generate valuable property insights for themselves & their clients at the listing appointment stage. Revive's latest breakthrough in real estate technology reflects the company's ongoing commitment to helping real estate professionals deliver a better sales experience while assisting clients to maximize the value of their homes. Revive has aggressively expanded its AI capabilities, building out its development teams. "This is only the beginning of how AI will be leveraged to help real estate agents and homeowners," said Alladawi. Alladawi points out that while Revive Vision AI provides a comprehensive game plan, it is an informative tool and does not replace professional advice. Homeowners are encouraged to consult with real estate experts, tax professionals, and other industry specialists for tailored guidance based on their specific circumstances. How to access Revive Vision AI Revive Vision AI will be made available on a subscription basis exclusively first to real estate agents who currently work with Revive. Pricing details will be available soon. Agents can join a waitlist to be invited to participate in the coming weeks ahead as the program rolls out in phases. Learn more about Revive Vision AI at www.revivevision.ai. About Revive Revive Real Estate partners with real estate professionals to provide the funding, guidance, and contractor needed to get strategic pre-sale renovations done fast and for maximum value. By providing access to Revive's network of top contractors, Revive homes sell for more and help sellers move ahead by maximizing their sales value. Revive is last year's iOi Summit Pitch Battle winner. Discover more at www.revive.realestate.

Profits on Home Sales Rebound Across U.S. in Second Quarter of 2023 as Housing Market Revives
Profit Margins on Typical Sales Nationwide Increase Following Three Quarterly Declines; Investment Returns Rise as Median U.S. Home Price Jumps 10 Percent; Seller Profits Still Down Annually Following Earlier Drop-offs IRVINE, Calif. – July 20, 2023 — ATTOM, a leading curator of land, property, and real estate data, today released its second-quarter 2023 U.S. Home Sales Report, which shows that profit margins on median-priced single-family home and condo sales in the United States increased to 47.7 percent in the second quarter – the first gain in a year. The improvement in typical profit margins, from 43.9 percent in the first quarter of 2023, came amid a rebound in the U.S. housing market that pushed the median nationwide home price up 10 percent quarterly to $350,000. Both the nationwide profit margin and median home price increased after three straight quarterly drop-offs that had begun to reverse a decade-long market boom. However, even as seller fortunes turned around in the second quarter, the typical investment return nationwide did remain below the recent high point of 53.2 percent, recorded a year earlier during the second quarter of 2022. "Just when it looked like the housing market was flattening out, prices spiked again, which pushed seller profits back up to nearly their highest level in the past decade," said Rob Barber, CEO for ATTOM. "Stable mortgage rates, an ongoing tight supply of homes for sale and the usual Springtime surge in buyer demand appeared to have combined to halt the downturn we started seeing a year ago. It's way too early to predict another long-term price run-up, especially since buying a home is a financial stretch for so many households around the country. But the second-quarter numbers clearly show the market has more steam left in it, and sellers are reaping the benefits." Gross profits also shot up from the first to the second quarter of 2023. They rose 17 percent on the typical single-family home and condo sale across the country, to $113,000, although they were still down 5 percent annually. The about-face in profits and prices around the U.S. during the second quarter reflected a housing market in flux. After a decade of almost continual increases, home prices dipped across most of the country in the middle of 2022 and continued declining through the first quarter of 2023. The national median price dropped 7 percent during that time as rising home-mortgage rates, high consumer price inflation and a faltering stock market cut into what potential buyers could afford. Prices and profits went back up in the second quarter during the start of the annual buying season, helped along by several forces. They included the nation's limited supply of homes for sale, mortgage rates that stabilized at around 6.5 percent for a 30-year fixed-rate loan, investment market gains and an easing of inflation. As the 2023 home-buying season continues, the prospect of even better seller profits remains in place but will depend heavily on whether any or all of those factors improve or decline. Profit margins grow quarterly in two-thirds of U.S. but remain down annually Typical profit margins – the percent difference between median purchase and resale prices – increased from the first quarter of 2023 to the second quarter of 2023 in 107 (69 percent) of the 156 metropolitan statistical areas around the U.S. with sufficient data to analyze. However, they were still down in 118, or 76 percent, of those metros compared to the second quarter of last year, as the recent improvements were not enough to wipe out losses sustained from the middle of 2022 to the early part of 2023. Metro areas were included if they had sufficient population and at least 1,000 single-family home and condo sales in the second quarter of 2023. The biggest quarterly increases in typical profit margins came in the metro areas of Barnstable, MA (margin up from 47 percent in the first quarter of 2023 to 69.2 percent in the second quarter of 2023); Fort Wayne, IN (up from 46.7 percent to 65.5 percent); Augusta, GA (up from 45.7 percent to 64.1 percent); Rochester, NY (up from 50.9 percent to 68 percent) and Charleston, SC (up from 37.7 percent to 52 percent). Aside from Rochester, the biggest quarterly profit-margin increases in metro areas with a population of at least 1 million in the second quarter of 2023 were in Grand Rapids, MI (return up from 63.9 percent to 76.5 percent); Raleigh, NC (up from 35.8 percent to 47.7 percent), Hartford, CT (up from 38.5 percent to 50.1 percent) and San Diego, CA (up from 45.3 percent to 56.7 percent). Typical profit margins decreased quarterly in just 49 of the 156 metro areas analyzed (31 percent). The biggest quarterly decreases were in Scranton, PA (margin down from 86.9 percent in the first quarter of 2023 to 70.2 percent in the second quarter of 2023); Hilo, HI (down from 101.5 percent to 86.7 percent); Detroit, MI (down from 90 percent to 76 percent); Spartanburg, SC (down from 60.6 percent to 46.6 percent) and Flint, MI (down from 91.6 percent to 80.5 percent). Aside from Detroit, the largest quarterly decreases in profit margins among metro areas with a population of at least 1 million came in Pittsburgh, PA (down from 50.9 percent to 40.2 percent); Buffalo, NY (down from 70.9 percent to 61.5 percent); Indianapolis, IN (down from 48.7 percent to 40.4 percent) and Honolulu, HI (down from 47.1 percent to 41.1 percent). Metro areas with a population of at least 1 million where typical profits remained down the most annually included Austin, TX (margin down from 80.3 percent in the second quarter of 2022 to 47.2 percent in the second quarter of 2023), San Francisco, CA (down from 85.1 percent to 59.4 percent); Phoenix, AZ (down from 75.8 percent to 51.6 percent); Salt Lake City, UT (down from 69.3 percent to 46.4 percent) and Las Vegas, NV (down from 66.5 percent to 46.5 percent). Raw profits up in almost 90 percent of housing markets Profits on median-priced home sales nationwide, measured in raw dollars, increased from $96,573 in the first quarter of 2023 to $113,000 in the second quarter, a 17 percent gain. Typical raw profits went up quarterly in 137, or 88 percent, of the metro areas analyzed for this report. Annually, however, raw profits remained down 4.6 percent from a record high of $118,400 in the second quarter of 2022. They dropped year over year in 65 percent of the markets analyzed. The biggest quarterly raw-profit increases in areas with a population of at least 1 million were in Birmingham, AL (up 47 percent); Rochester, NY (up 44 percent); St. Louis, MO (up 37 percent); Hartford, CT (up 35 percent) and Cleveland, OH (up 33 percent). On an annual basis, the largest year-over-year declines in raw profits on median-priced home sales among metros with a population of at least 1 million came in Austin, TX (down 36 percent); Birmingham, AL (down 32 percent); Salt Lake City (down 28 percent); San Francisco, CA (down 27 percent) and Phoenix, AZ (down 27 percent). The largest raw profits on median-priced sales in the second quarter of 2023 were in San Jose, CA (profit of $600,000); San Francisco, CA ($416,000); San Diego, CA ($301,500); Seattle, WA ($285,000) and Naples, FL ($265,905). The smallest were in Shreveport, LA ($14,000); Beaumont, TX ($24,943); Rockford, IL ($38,140); McAllen, TX ($41,407) and Toledo, OH ($43,000). Prices up quarterly in more than 90 percent of nation Median single-family home and condo prices increased from the first to the second quarter of 2023 in 150 (96 percent) of the 156 metro areas around the country with enough data to analyze and were up annually in 94 of those metros (60 percent). Nationwide, the median home price rose to $350,000, up 10.4 percent from $317,000 in the first quarter of 2023 and 2.4 percent over the previous record of $341,750, set in the second quarter of last year. Among metro areas, the biggest increases in median home prices from the first quarter of 2023 to the second quarter of 2023 were in Rochester, NY (up 20 percent); Madison, WI (up 19.1 percent); Bridgeport. CT (up 18.6 percent); St. Louis, MO (up 17 percent) and Augusta, GA (up 16.9 percent). Aside from Rochester and St. Louis, the largest median-price increases during the second quarter of 2023 in metro areas with a population of at least 1 million were in Detroit, MI (up 15.8 percent); Birmingham, AL (up 15.6 percent) and Grand Rapids, MI (up 14.5 percent). Home prices tied or hit new highs during the second quarter of 2023 in 89, or 57 percent, of the 156 metro areas in the report. Metro areas with a population of more than 1 million that set or tied records in the second quarter included Chicago, IL; Miami, FL; Dallas, TX; Washington, DC, and Atlanta, GA. The only metro areas with a population of at least 1 million where the median home price declined from the first to the second quarter of 2023 were Honolulu HI (down 1.4) and Salt Lake City (down .03 percent). Homeownership tenure inches up after hitting 10-year low Homeowners who sold in the second quarter of 2023 owned their homes an average of 5.76 years. That was up from a low point over the past decade of 5.59 years in the first quarter of 2023, but still down from 5.84 years in the second quarter of 2022. Average tenure remained down from the second quarter of 2022 to the same period this year in 47 percent of metro areas with sufficient data. The largest annual declines were in Rockford, IL (tenure down 23 percent); Salem, OR (down 19 percent); Torrington, CT (down 17 percent); St. Louis, MO (down 16 percent) and Manchester, NH (down 15 percent). All 15 of the longest average tenures among sellers in the second quarter of 2023 were in the Northeast or West regions of the U.S. They were led by Bellingham, WA (8.04 years); Manchester, NH (7.88 years); Honolulu, HI (7.78 years); San Jose, CA (7.38 years) and Bridgeport, CT (7.26 years). The smallest average tenures among second-quarter sellers were in Lakeland, FL (1.46 years); Memphis, TN (3.23 years); Cleveland, OH (3.88 years); Salem, OR (4.15 years) and Tucson, AZ (4.29 years). Lender-owned foreclosures dip down close to low since 2000 Home sales following foreclosures by banks and other lenders represented just 1.4 percent, or one of every 69, U.S. single-family home and condo sales in the second quarter of 2023. That was down from 1.7 percent in the first quarter of 2023, although up from 1.1 percent in the second quarter of last year. Still, it remained just a tiny fraction of the 30 percent peak this century hit in 2009 during the aftermath of the Great Recession of 2007. Among metropolitan statistical areas with sufficient data, those areas where REO sales represented the largest portion of all sales in the second quarter of 2023 included Flint, MI (12.5 percent, or one in nine sales); Albany, NY (6 percent); Lansing, MI (5.9 percent); Detroit, MI (5.2 percent) and Kalamazoo, MI (4.5 percent). Cash sales drop Nationwide, all-cash purchases accounted for 35.9 percent of single-family home and condo sales in the second quarter of 2023. That was down from 39 percent in the first quarter of 2023 but was unchanged from the second quarter of last year. Among metropolitan areas with sufficient cash-sales data, those where cash sales represented the largest share of all transactions in the second quarter of 2023, included Hudson, NY (69.6 percent of all sales); Oneonta, NY (66.7 percent); Wheeling, WV (66.3 percent); Claremont-Lebanon, NH (65.9 percent) and Seneca, SC (63 percent). Those where cash sales represented the smallest share of all transactions in the second quarter of 2023, included California-Lexington Park, MD (17.4 percent); Vallejo, CA (19 percent); Washington, DC (20.1 percent); Olympia, WA (21.6 percent) and Lincoln, NE (21.7 percent). Institutional investment increases Institutional investors nationwide accounted for 6.1 percent, or one of every 16, single-family home and condo purchases in the second quarter of 2023. That was up from 5.7 percent in the first quarter of 2023, but still down from 7.4 percent in the second quarter of 2022. Among states with enough data to analyze, those with the largest percentages of sales to institutional investors in the second quarter of 2023 were Georgia (9 percent of all sales), Tennessee (9 percent), Indiana (8.4 percent), Oklahoma (8.2 percent) and Texas (8.1 percent). States with the smallest levels of sales to institutional investors in the second quarter of 2023 included Hawaii (2.4 percent of all sales), New Hampshire (3.1 percent), Rhode Island (3.3 percent), Maine (3.6 percent) and New York (3.7 percent). FHA-financed purchases up again Nationwide, buyers using Federal Housing Administration (FHA) loans comprised 9.4 percent of all single-family home purchases in the second quarter of 2023 (one of every 11). That was up from 8.4 percent in the first quarter of 2023 and from 6.7 percent a year earlier. The latest increase marked the fourth consecutive quarterly gain. Among metropolitan areas with sufficient FHA-buyer data, those with the highest levels of sales to FHA purchasers in the second quarter of 2023 included Odessa, TX (34.8 percent of all sales); Casper, WY (29.9 percent); El Centro, CA (26.9 percent); Pueblo, CO (22.8 percent) and Dover, DE (22.7 percent). Report methodology The ATTOM U.S. Home Sales Report provides percentages of REO sales and all sales that are sold to institutional investors and cash buyers, at the state and metropolitan statistical area. Data is also available at the county and zip code level, upon request. The data is derived from recorded sales deeds, foreclosure filings and loan data. Statistics for previous quarters are revised when each new report is issued as more deed data becomes available. About ATTOM ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, property navigator and more. Also, introducing our newest innovative solution, that offers immediate access and streamlines data management – ATTOM Cloud.

Federal Agencies Propose Interagency Guidance on Reconsiderations of Value for Residential Real Estate Valuation
WASHINGTON, D.C. – Five federal regulatory agencies today requested public comment on proposed guidance addressing reconsiderations of value (ROV) for residential real estate transactions. The proposed guidance advises on policies that financial institutions may implement to allow consumers to provide financial institutions with information that may not have been considered during an appraisal or if deficiencies are identified in the original appraisal. ROVs are requests from a financial institution to an appraiser or other preparer of a valuation report to reassess the value of residential real estate. An ROV may be warranted if a consumer provides information to a financial institution about potential deficiencies or other information that may affect the estimated value. The proposed guidance shows how ROVs intersect with appraisal independence requirements and compliance with applicable laws and regulations. The proposed guidance describes how financial institutions may create or enhance their existing ROV processes while remaining consistent with safety and soundness standards, complying with applicable laws and regulations, preserving appraiser independence, and remaining responsive to consumers. Additionally, the proposed guidance would describe the risks of deficient residential real estate valuations and how financial institutions may incorporate ROV processes into established risk management functions. Deficient collateral valuations can contain inaccuracies due to errors, omissions, or discrimination that affect the value conclusion. The proposed guidance would also provide examples of ROV policies and procedures that a financial institution may establish to help identify, address, and mitigate valuation discrimination risk. Comments must be received within 60 days of the proposed guidance's publication in the Federal Register. Read the proposed guidance. Consumers can submit complaints about financial products and services, by visiting the CFPB's website or by calling (855) 411-CFPB (2372). About the CFPB The Consumer Financial Protection Bureau (CFPB) is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. For more information, visit www.consumerfinance.gov.

Plunk and Milestones Join Forces to Unlock Trillions of Dollars in Untapped Property Value through AI-Powered Remodel Insights
Milestones unveils a new era of predictive home renovation analytics with Plunk Remodel Value™ BELLEVUE, Wash., May 16, 2023 -- Plunk, the first AI-powered, real-time analytics platform for residential real estate, and Milestones.ai, a next generation platform dedicated to homeowner management, have partnered to provide AI-driven remodel advice to homeowners. Milestones has integrated Plunk Remodel Value and Project Recommendations into their Homeowner Management System. Plunk Remodel Value determines the expected value of a home after a full-scale renovation. Project Recommendations categorize renovation projects according to the estimated value they can add to a particular home. Continually rising interest rates and an aging housing market are signaling a growing remodeling market. According to the latest data from the American Community Survey (ACS), the median age of owner-occupied homes is 40 years. OIder properties need new amenities such as larger living spaces, modernized kitchens and home offices. A study by Plunk revealed that $289 billion in property value (with an average of $240,000 per home) had yet to be unlocked through home renovations across the 1.1 million Seattle-area homes analyzed. Plunk's real-time home analytics platform — covering over 104 million homes nationwide — will unlock AI's power to advise homeowners how to optimize the value of their homes. "Milestones has built a unique way for real estate professionals to stay highly engaged with clients across the entire homeownership journey through their Homeowner Management System," remarked David Bluhm, President and Co-founder of Plunk. "Now clients can easily gain access to real-time valuation and remodel analysis regarding their largest investment." "With Plunk, we are able to empower homeowners with data-driven financial guidance to increase the values of their homes over time," commented Dustin Gray, CEO and Founder of Milestones. "Plunk Remodel Value and Project Recommendations provide transparency into the best home improvement projects that can increase a home's value and help clients reach their home's maximum potential worth." Real estate professionals can gain access to the Milestones Homeowner Management System here. About Plunk Plunk is the first AI-powered, real-time home analytics platform leveraging next generation applications of Artificial Intelligence, machine learning and image analysis to revolutionize the way homeowners, real estate professionals and investors value and invest in residential real estate.

SentriLock and Plunk Partnership Give REALTORS Access to AI-Powered Market Insights
Agents gain instant access to key real estate data and neighborhood metrics through SentriLock mobile app BELLEVUE, Wash., April 25, 2023 -- Plunk, the first real-time analytics platform for residential real estate, announces its new partnership with SentriLock, a leading provider of electronic lockbox solutions for the real estate industry. The partnership provides REALTORS® with AI-powered home valuation and market insights at a critical time when both REALTORS® and their clients work to navigate rapid and unpredictable market shifts. By incorporating Plunk's market data and analytics, REALTORS® will have access to real-time information on real estate trends, property values, and other key market indicators—saving hours of preparation prior to each showing while always having the ability to provide clients with the most accurate and timely information about buying and selling property. "With SentriLock, we reach the nearly half million REALTORS® they serve across North America," said David Bluhm, President and Co-Founder of Plunk. "Plunk empowers REALTORS® to better serve their clients with real-time insights that allow their clients to make more fully informed, confident decisions. By making Plunk's market insights available through SentriLock's mobile app, we're delivering a powerful combination of two fundamental agent tools." "Our partnership with Plunk brings valuable and live market information to our customers," said SentriLock CEO, Scott Fisher. "The integration of Plunk's market data and analytics with our electronic lockbox solutions will provide REALTORS® with the tools they need to better serve their clients and stay competitive and essential in the transaction. As we continue to expand our business into new markets, we want to continually reward our REALTORS® who choose us as their provider by increasing their access to useful business tools within our system." Plunk is available as an upgrade feature to all new and existing customers of SentriLock. About SentriLock SentriLock is the leading provider of electronic lockbox solutions for the real estate industry. The company's products and services are designed to help REALTORS® securely access and manage properties, while providing valuable data and analytics to help them make informed decisions. About Plunk Plunk is the first AI-powered and real-time home analytics platform leveraging next-generation applications of Artificial Intelligence, machine learning and image analysis to revolutionize the way homeowners, real estate professionals, and investors value and invest in residential real estate.

Inventory Ends the Year Up 55% but Remains Below Historic Levels
Price growth eases to high single-digit territory in December SANTA CLARA, Calif., Jan. 12, 2023 -- The U.S. housing market continued to show signs of normalizing in December, with inventory and time on market increasing and listing price growth moderating, according to the Realtor.com® Monthly Housing Trends Report released today. After the frenzy of the past two years, this suggests good news for homebuyers in the new year with more options and more time to make a decision. "In December, we saw both buyers and sellers pulling back as they continue to adjust to a challenging market. Buyers started 2022 facing high home prices and limited inventories, and ended the year with interest rates roughly double where they started. Despite significant cooling in sales in 2022, some indicators remain in high gear. Prices are still significantly higher and homes are selling faster compared to 2019 pre-pandemic levels," said Danielle Hale, Chief Economist for Realtor.com®. "Although demand has softened compared to last year, pushing home price growth into single-digit territory for the first time in 12 months, moderation in home price growth may encourage more buyers to return to the market in the months ahead, and may also be welcome news for sellers aiming to sell and buy at the same time. Affordability will remain a challenge and buyers will want to keep a close eye on their potential mortgage payment – a mortgage calculator is a great way to do this." December 2022 Housing Metrics – National Active listings up significantly from 2021, easing inventory constraints for buyers The supply of active listings for sale in the U.S. increased significantly in December over the previous year, signaling continued hesitation from buyers in the face of mortgage affordability and other obstacles. While the number of homes for sale continued to increase in the latter part of 2022, inventory is still significantly lower than it was in 2019 before the pandemic. Home sellers also continued to be less active in December and fewer listed their home for sale compared to one year ago. Nationally, the active inventory of homes for sale grew 54.7% year-over-year in December, but is still well below pre-pandemic levels (-38.2% compared to the December 2017-2019 average). Both newly-listed homes (-21.0%) and pending listings, or homes under contract with a buyer (-36.8%), declined year-over-year. Among the 50 largest U.S. metros, 49 markets posted yearly active inventory gains in December, led by Raleigh, N.C. (+226.2%), Nashville, Tenn., (+226.0%), and Austin, Texas (+186.6%). Only Hartford, Conn. (-7.7%) saw a year-over-year decline in the number of for-sale homes. In December, on average across the 50 largest metros, the number of homes for sale was up 74.6% compared to a year ago, with the most growth in active listings in the West (+110.2%), which nearly reached pre-pandemic 2019 levels (-3.9%). On average across the 50 largest metros, no regions saw year-over-year new listing increases in December, with the greatest declines registered in the West (-32.5%), followed by the Northeast (-21.8%), Midwest (-19.3%) and South (-17.2%). Furthermore, newly-listed homes increased in just two markets: Nashville(4.1%) and Buffalo, N.Y.. (+3.0%). Home price growth moderates to single digits for the first time in a year In December, growth in the typical asking price slowed to a single-digit pace for the first time since December 2021. While this is still higher than normal, it's a significant slowdown from the peak 18% year over year pace seen earlier in 2022 and signals that fewer buyers are willing to take the plunge amid ongoing housing affordability challenges. Despite recent easing in mortgage rates from their early-November peak, higher rates and home prices compared to a year ago have increased the typical mortgage payment by nearly $750 each month or 58.9% more than last year, far outpacing recent rent growth (3.4%) and inflation (7.1%). Realtor.com®'s expectation for 2023 is that rates will climb higher early in the year before falling in the second half. In December, the U.S. median listing price was $400,000, up 8.4% year-over-year. This is the first time since December 2021 the annual growth rate has fallen below double-digits. While the monthly home price growth rate has slowed from the double-digits seen during the pandemic frenzy, overall, home prices continued to rise in 2022, and the median list price was up an average 13.4% compared to the previous year. The slowdown in the demand for homes has caused sellers to cut their prices. Nationally, 13.6% of active listings had their price reduced, a higher share than in December 2021 (+6.5 percentage points), but similar to the 2018 share (14.5%). Among the 50 largest U.S. metros, the biggest annual listing price gains were in Midwest metros (+12.2%, on average). The markets with the biggest increases were Milwaukee (+46.2%), Memphis, Tenn. (+34.0%), and Miami (+20.4%). Southern (+9.6 percentage points) and Western metros (+8.7 percentage points) saw the greatest increases in the share of listings with price reductions. Listing prices declined in nine markets, led by New Orleans (-4.4%), Denver (-4.0%), Austin (-3.4%), Phoenix( -2.4%) , and Pittsburgh (-2.3%). Homes stay on the market 11 days longer on average as buyers take their time to decide For-sale homes continued to spend more time on market compared to the prior year amid a growing number of homes for sale and softening buyer demand. Modestly rising incomes (+4.6% year over year in December) and a robust jobs market (unemployment remains low at 3.5% in December), cannot completely offset lower buyer purchasing power, and as a result, homes are sitting on the market for longer, as buyers take their time to decide. Homes still sold faster in December than was common in 2019, with more affordable, lower-priced markets in the Midwest and Northeast seeing homes sell faster than in other areas. Looking ahead, mid-sized markets that offer better affordability and solid jobs and economies, especially those among Realtor.com®'s top housing markets of 2023, may continue to be attractive to homeshoppers, especially those with the flexibility to relocate. In December, the typical home spent 67 days on market, 11 days longer than last year, but still 16 days faster than in 2017-2019, on average. Time on market was lower across the 50 largest U.S. metros (61 days, on average) relative to the national pace, but also slowed from the December 2021 pace (+11 days). Forty-five metros saw an increase in time on market compared to last year, with larger metros in the West seeing the greatest increase (+18 days) followed by the South (+13 days). Metros where homes spent longest on the market compared to December 2021 were Raleigh, N.C. (+36 days), Phoenix (+34 days), and Las Vegas (+33 days). In the five metros where time on market declined compared to last year the biggest declines were seen in Milwaukee (-16 days) and New Orleans (-5 days). December 2022 Housing Metrics – 50 Largest U.S. Metro Areas Methodology Realtor.com® housing data as of December 2022. Listings include the active inventory of existing single-family homes and condos/townhomes/rowhomes/co-ops for the given level of geography; new construction is excluded unless listed via an MLS. Realtor.com® data history goes back to July 2016. 50 largest U.S. metropolitan areas as defined by the Office of Management and Budget (OMB). About Realtor.com® Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.

U.S. Foreclosure Completions Increase Annually by 64% in November 2022
Foreclosure Activity Remains Up 57 Percent from Last Year, and Foreclosure Starts Increase Annually by 98 Percent; But Both Measures Down from October 2022 IRVINE, Calif. — Dec. 8, 2022 — ATTOM, a leading curator of real estate data nationwide for land and property data, today released its November 2022 U.S. Foreclosure Market Report, which shows there were a total of 30,677 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions – up 57 percent from a year ago, but down 5 percent from the prior month. "We may be at or near a peak level of foreclosure activity for 2022," said Rick Sharga, executive vice president of market intelligence at ATTOM. "While foreclosure starts and foreclosure completions both increased compared to last year's artificially low levels, they declined from last month, and lenders often put a moratorium on foreclosures during the holiday season." Highest foreclosure rates remain in Illinois, Delaware, and New Jersey Nationwide one in every 4,580 housing units had a foreclosure filing in November 2022. States with the highest foreclosure rates were again: Illinois (one in every 2,401 housing units with a foreclosure filing); Delaware (one in every 2,736 housing units); New Jersey (one in every 2,916 housing units); South Carolina (one in every 3,195 housing units); and Wyoming (one in every 3,237 housing units). Among the 223 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in November 2022 were Cleveland, OH (one in every 1,913 housing units with a foreclosure filing); Columbia, SC (one in every 1,938 housing units); Davenport, IA (one in every 2,000 housing units); Bakersfield, CA (one in every 2,034 housing units); and Atlantic City, NJ (one in every 2,063 housing units). Those metropolitan areas with a population greater than 1 million, with the worst foreclosure rates in November 2022, including Cleveland, OH were: Chicago, IL (one in every 2,221 housing units); Riverside, CA (one in every 2,294 housing units); and Philadelphia, PA (one in every 2,539 housing units). Foreclosure completions up 64 percent from last year Lenders repossessed 3,770 U.S. properties through completed foreclosures (REOs) in November 2022, down 9 percent from last month but up 64 percent from last year. States that had the greatest number of REOs in November 2022, included: Illinois (343 REOs); New York (313 REOs); Pennsylvania (220 REOs); Michigan (210 REOs); and Ohio (208 REOs). Those major metropolitan statistical areas (MSAs) with a population greater than 1 million that saw the greatest number of REOs in November 2022 included: Chicago, IL (278 REOs); New York, NY (174 REOs); Philadelphia, PA (103 REOs); Detroit, MI (77 REOs); and Houston, TX (59 REOs). Greatest number of foreclosure starts still in California, Texas, and Florida Lenders started the foreclosure process on 20,686 U.S. properties in November 2022, down 5 percent from last month but up 98 percent from a year ago. "Foreclosure starts in November nearly doubled from last year's numbers, but are still just above 80 percent of pre-pandemic levels," Sharga added. "We may continue to see below-normal foreclosure activity, since unemployment rates are still very low, and mortgage delinquency rates are lower than historical averages." States that had the greatest number of foreclosure starts in November 2022 again included: California (2,244 foreclosure starts); Texas (2,114 foreclosure starts); Florida (1,709 foreclosure starts); New York (1,575 foreclosure starts); and Illinois (1,243 foreclosure starts). Those major metropolitan areas with a population greater than 1 million that had the greatest number of foreclosure starts in November 2022 included: New York, NY (1,593 foreclosure starts); Chicago, IL (1,028 foreclosure starts); Houston, TX (685 foreclosure starts); Miami, FL (657 foreclosure starts); and Los Angeles, CA (642 foreclosure starts). Report methodology The ATTOM U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the ATTOM Data Warehouse during the month and quarter. Some foreclosure filings entered into the database during the quarter may have been recorded in the previous quarter. Data is collected from more than 3,000 counties nationwide, and those counties account for more than 99 percent of the U.S. population. ATTOM's report incorporates documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). For the annual, midyear and quarterly reports, if more than one type of foreclosure document is received for a property during the timeframe, only the most recent filing is counted in the report. The annual, midyear, quarterly and monthly reports all check if the same type of document was filed against a property previously. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state where the property is located, the report does not count the property in the current year, quarter or month. About ATTOM ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, property reports and more. Also, introducing our newest innovative solution, that offers immediate access and streamlines data management – ATTOM Cloud.

Steep Drop in Mortgage Lending Continues Across U.S. in Third Quarter, Hitting Three-Year Low
Total Loans Down Another 19 Percent Quarterly, Marking Sixth Straight Drop; Refinance Lending Declines Another 31 Percent Quarterly, While Purchase Loans Decrease 16 Percent; Drop-offs Far Outweigh Ongoing Rise in Home-Equity Lending IRVINE, Calif. – Nov. 17, 2022 — ATTOM, a leading curator of real estate data nationwide for land and property data, today released its third-quarter 2022 U.S. Residential Property Mortgage Origination Report, which shows that 1.97 million mortgages secured by residential property (1 to 4 units) were originated in the third quarter of 2022 in the United States. That figure was down 19 percent from the second quarter of 2022 – the sixth quarterly decrease in a row – and down 47 percent from the third quarter of 2021 – the biggest annual drop in 21 years. The continued decline in residential lending resulted from double-digit downturns in both refinance and purchase loan activity that far outweighed another increase in home-equity credit lines. Overall, lenders issued $636.5 billion worth of mortgages in the third quarter of 2022. That was down quarterly by 22 percent and 46 percent annually. As with the number of loans, the annual decrease in the dollar volume of mortgages stood out as the largest since at least 2001 and was the latest sign that the 11-year U.S. housing market boom is losing steam. "There are no surprises in this quarter's loan origination numbers, as the unprecedented jump in mortgage rates has battered both the purchase and refinance markets," said Rick Sharga, executive vice president of market intelligence at ATTOM. "Prospective homebuyers have been priced out of the market by the combination of 7 percent mortgage rates and higher home prices. And refinance activity will probably continue to decline, since the majority of homeowners have loans with sub-4 percent interest rates." The continued dip came as just 661,000 residential loans were rolled over into new mortgages and borrowers took out only 943,000 loans to buy homes during the third quarter of 2022. During a period when mortgage interest rates continued to climb, refinancing activity was down 31 percent from the second quarter of 2022 and 68 percent from a year earlier. Refinancing activity has dropped for six consecutive quarters, to a level that is just one-quarter of what it was in early 2021. The dollar volume of refinance loans in the period running from July through September was down 33 percent from the prior quarter and 67 percent annually, to $212 billion. The number of purchase loans, meanwhile, slumped by 16 percent quarterly and 33 percent annually, while the dollar volume decreased to $353.9 billion. Only a 5 percent quarterly jump in the number and value of HELOCs – the third quarterly straight gain – kept the industry from seeing an across-the-board contraction. By the end of the third quarter, refinance activity represented just a third of overall mortgages, compared to two-thirds as recently as the first quarter of last year. Purchase lending continued at just under half of all activity in the third quarter of 2022, while home-equity packages comprised one of every five mortgage deals completed. That ratio for so-called HELOC loans was up from one of every 21 a year and a half ago. The most recent mortgage numbers are among the strongest reflections yet of a U.S. housing market that has cooled considerably after 11 years of nearly uninterrupted gains. Total mortgages drop at fastest annual pace since 2001 Banks and other lenders issued 1,968,930 residential mortgages in the third quarter of 2022. That was down 18.7 percent from 2,421,540 in the second quarter of 2022 and down 46.9 percent from 3,708,000 in the third quarter of 2021. The annual decline marked the largest since at least 2001. The $636.5 billion dollar volume of loans in the third quarter was down 22.4 percent from $819.9 billion in the prior quarter and was 46.4 percent less than the $1.19 trillion lent in the third quarter of 2021. Overall lending activity decreased from the second quarter of 2022 to the third quarter of 2022 in 206, or 98 percent, of the 210 metropolitan statistical areas around the U.S. with a population of more than 200,000 and at least 1,000 total residential mortgages issued in the third quarter of 2022. Total lending activity was down at least 15 percent in 116 of the metros with enough data to analyze (55 percent). The largest quarterly decreases were in Myrtle Beach, SC (total lending down 52.7 percent); Knoxville, TN (down 44.5 percent); Charleston, SC (down 43 percent); Ogden, UT (down 41 percent) and Buffalo, NY (down 36.2 percent). Aside from Buffalo, metro areas with a population of least 1 million that had the biggest decreases in total loans from the second quarter to the third quarter of 2022 were St. Louis, MO (down 35.8 percent); Miami, FL (down 30.4 percent); Washington, DC (down 30.1 percent) and San Jose, CA (down 28.2 percent). The biggest increases, or smallest decreases, in the total number of mortgages from the second quarter to the third quarter of 2022 were in Hartford, CT (up 5 percent); Syracuse, NY (up 0.8 percent); Claremont-Lebanon, NH (up 0.8 percent); Warner Robins, GA (up 0.6 percent) and York, PA (down 0.6 percent). No metro areas with a population of at least 1 million aside from Hartford saw total loan originations increase from the second to the third quarter of this year. Refinance mortgage originations slump to lowest point since early 2019 Lenders issued 660,767 residential refinance mortgages in the third quarter of 2022 – the smallest count since the first quarter of 2019. The latest number was down 31 percent from 957,515 in second quarter of 2022, 67.9 percent from 2,059,465 in the third quarter of 2021 and 75.3 percent from a peak of 2,680,523 hit in the first quarter of last year. It fell for the sixth straight quarter, the longest run of declines this century. The $212 billion dollar volume of refinance packages in the third quarter of 2022 was down 33 percent from $316.4 billion in the prior quarter and down 67.1 percent from $645.2 billion in the third quarter of 2021. Refinancing activity decreased from the second quarter of 2022 to the third quarter of 2022 in 208, or 99 percent, of the 210 metropolitan statistical areas around the country with enough data to analyze. Activity dropped quarterly by at least 25 percent in 131 metro areas (62 percent). The largest quarterly decreases were in Myrtle Beach, SC (refinance loans down 62 percent); Buffalo, NY (down 59.4 percent); Salinas, CA (down 54.7 percent); Knoxville, TN (down 52.4 percent) and Charleston, SC (down 49.5 percent). Aside from Buffalo, metro areas with a population of least 1 million that had the biggest decreases in refinance activity from the second quarter to the third quarter of this year were Washington, DC (down 46.9 percent); New York, NY (down 46 percent); Miami, FL (down 45.5 percent) and St. Louis, MO (down 45 percent). The only metro areas where refinance lending increased from the second quarter to the third quarter were Sioux Falls, SD (up 11.4 percent) and Hartford, CT (up 3.2 percent). Purchase mortgages decrease for fourth time in last five quarters Lenders originated 943,242 purchase mortgages in the third quarter of 2022. That was down 15.6 percent from 1,116,939 in the second quarter – the fourth drop in the last five quarters. It also was down 32.7 percent from 1,401,578 in the third quarter of 2021 – the biggest annual decline this century. The $353.9 billion dollar volume of purchase loans in the third quarter of 2022 was down 18.9 percent from $436.2 billion in the prior quarter and down 28.4 percent from $494 billion a year earlier. Residential purchase-mortgage originations decreased from the second quarter of 2022 to the third quarter of 2022 in 173 of the 210 metro areas in the report (82 percent) and dipped annually in 206 metro areas (98 percent). The largest quarterly decreases were in Myrtle Beach, SC (purchase loans down 50.8 percent); Ogden, UT (down 47.6 percent); Naples, FL (down 41.8 percent); Charleston, SC (down 41.3 percent) and Knoxville, TN (down 40.1 percent). Metro areas with a population of at least 1 million that saw the biggest quarterly decreases in purchase originations in the third quarter of 2022 were St. Louis, MO (down 30.3 percent); San Jose, CA (down 30.3 percent); San Francisco, CA (down 29.3 percent); Los Angeles, CA (down 28.6 percent) and Miami, FL (down 28.5 percent). Residential purchase-mortgage lending increased most from the second quarter to the third quarter of 2022 in Syracuse, NY (up 24.9 percent); Claremont-Lebanon, NH (up 24.3 percent); Rochester, NY (up 20 percent); Dayton, OH (up 18.9 percent) and Kalamazoo, MI (up 15.7 percent). Aside from Rochester, metro areas with a population of at least 1 million where purchase originations rose most from the second to the third quarter were Minneapolis, MN (up 11.9 percent); Hartford, CT (up 6.1 percent); Grand Rapids, MI (up 5.2 percent) and Pittsburgh, PA (up 0.5 percent). HELOC lending up for fifth time in six quarters A total of 364,921 home-equity lines of credit (HELOCs) were originated on residential properties in the third quarter of 2022, up 5.1 percent from 347,086 in the prior quarter and up 47.8 percent from 246,957 in the third quarter of 2021. HELOC activity increased for the fifth time in six quarters after it had decreased in each of the prior six quarters. The $70.5 billion third-quarter 2022 volume of HELOC loans was up 4.7 percent from $67.3 billion in the second quarter of 2022 and 47.5 percent from $47.8 billion in the third quarter of last year, hitting the highest point in four years. HELOCs comprised 18.5 percent of all third-quarter 2022 loans – almost four times the 4.8 percent level from the first quarter of 2021. "While HELOC activity has dramatically increased over the past few quarters, its growth rate slowed down significantly on a quarter-to-quarter basis, which raises the question of whether we might be at or near a cyclical peak in HELOC activity," Sharga added. "Even with the recent increases, HELOC volume is still nowhere near the record level of activity we saw in the mid-2000s during the run-up to the financial crisis." The largest increases in metro areas with a population of at least 1 million were in New Orleans, LA (home-equity loans up 52.8 percent); Houston, TX (up 47.5 percent); Dallas, TX (up 35.4 percent); Tucson, AZ (up 32.8 percent); and Atlanta, GA (up 30.9 percent). The largest quarterly decreases in HELOCs among metro areas with a population of at least 1 million were in Buffalo, NY (down 31.9 percent); St. Louis, MO (down 26.7 percent); Honolulu, HI (down 14.5 percent); San Jose, CA (down 10.9 percent) and Rochester, NY (down 9.1 percent). FHA and VA loan portions tick upward Mortgages backed by the Federal Housing Administration (FHA) rose as a portion of all lending for the fourth straight quarter, accounting for 224,021, or 11.4 percent, of all residential property loans originated in the third quarter of 2022. That was up from 10.7 percent in the second quarter of 2022 and 9.3 percent in the third quarter of 2021. Residential loans backed by the U.S. Department of Veterans Affairs (VA) accounted for 103,314 or 5.2 percent, of all residential property loans originated in the third quarter of 2022. That was up from 5.1 percent in the previous quarter but still down from 6.3 percent a year earlier. VA lending as a portion of all loans rose after seven consecutive quarterly declines. Typical amount borrowed to finance purchase decreases to three-year low The median amount borrowed nationwide to buy a home went down in the third quarter of 2022 for the first time in three years, while the typical down payment on homes purchased with financing also decreased. At the same time, the ratio of median down payments to home prices went down. Among homes purchased with financing in the third quarter of 2022, the median loan amount was $315,000. That was down 4.5 percent from $330,000 the prior quarter, following 10 straight increases. However, it was still up 4.2 percent from $302,197 in the same period in 2021. The median down payment on single-family homes and condos purchased with financing in the third quarter of 2022 decreased to $34,975, down 12.5 percent from $39,980 in the previous quarter, although still up 11.9 percent from $31,250 in the third quarter of 2021. The typical down payment in the third quarter of this year represented 9.3 percent of the purchase price, down from 10.2 percent in the prior quarter but still up from 8.9 percent a year earlier. Report methodology ATTOM analyzed recorded mortgage and deed of trust data for single-family homes, condos, town homes and multi-family properties of two to four units for this report. Each recorded mortgage or deed of trust was counted as a separate loan origination. Dollar volume was calculated by multiplying the total number of loan originations by the average loan amount for those loan originations. About ATTOM ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, property reports and more. Also, introducing our newest innovative solution, that offers immediate access and streamlines data management – ATTOM Cloud.

Home showing traffic continues to decline, still remains above pre-pandemic norms
Buyer foot traffic decreased from last month and last year amid higher mortgage rates and continued inventory challenges, according to the latest data from ShowingTime CHICAGO, Oct. 27, 2022 – Home showing traffic continued its decline in September, according to the latest data from the ShowingTime Showing Index®. Affordability remains a major challenge for home shoppers, despite recent moderate price declines and an increase in the number of homes for sale from this time last year. Mortgage affordability challenges combined with normal seasonal slowdown — showing traffic is down 7% from last month, in line with previous years — mean fewer buyers are engaging in home showings. "In addition to the regular seasonal slowdown we would expect, buyers who can't overcome affordability challenges are opting out of the market and contributing to the fewer showings we saw in September," said Mike Lane, vice president of sales and industry for ShowingTime+. A majority of listings averaged between four and nine showings. The number of markets that saw increases in the number of showings per listing fell from 70 to 14, with buyers seeing less competition and enjoying more time and options. Among these markets were Boise and San Francisco, which both saw 3% increases in showings per listing month over month. All regions and the U.S. as a whole saw monthly and yearly declines in showing traffic. The Midwest and Northeast regions saw year-over-year declines of 11.2% and 10.1%, respectively. The South is down 27% from last year, while the Western region again led all regions in year-over-year declines, with a drop of 45%. The West and South are home to previous red-hot pandemic markets, including Seattle, Denver, Austin and Phoenix. "At inflection points like this, while it's difficult to forecast what will happen, we continue to believe that fall showing activity remains a leading indicator of spring market conditions. September's data hints at inventory challenges continuing into next year," Lane said. About ShowingTime ShowingTime® is an industry leader in home touring technology and part of the ShowingTime+™ technology suite. ShowingTime+ is a Zillow Group, Inc. brand. ShowingTime's technology and services simplify the tour scheduling process for buyers, sellers and agents across the industry. ShowingTime products are used in hundreds of MLSs representing more than 1 million real estate professionals across the U.S. and Canada.

Home values are 25% above affordability norms
A substantial home value correction is very unlikely SEATTLE, Oct. 20, 2022 -- Housing affordability is the worst it has been in several years, and many buyers are pulling back, hoping relief is around the corner. A new analysis by Zillow® shows home values are 24.7% above where they would need to be for affordability to return to recent norms.1 A shock of this size is extremely unlikely, so buyers may need to reset their expectations. Nationally, home values are about 25% above where they would need to be for affordability to return to historical norms. The monthly mortgage payment on a typical U.S. home is about $1,850 — that is 75.5%, or about $800, higher than it was a year ago.2 Home values have fallen a bit since the peak in June, but rising mortgage rates have overwhelmed those small affordability gains. Mortgage affordability — the share of income a median household would need to spend on a typical mortgage payment — has risen to 30.2% nationally, even before including the cost of taxes and insurance. That is above the 30% threshold for households to be considered cost burdened, and much higher than the 2005–2021 average of 22.8%. "The next several years appear set up for affordability to be a major challenge for home buyers," said Zillow senior economist Nicole Bachaud. "Inventory remains tight, real income growth is dismal, mortgage rates show no signs of dropping, and there is plenty of pent-up demand ready to bid prices back up if they reach a level would-be buyers can once again afford. Filling the housing deficit continues to be the key to long-term affordability, but the recent slowdown in single-family construction is not a good sign that the market is getting closer to building enough to meet demand." For mortgage affordability to return to the 22.8% norm nationally, U.S. home values would need to fall 24.7%. Some markets are much closer to their historical affordability norms — for example, Hartford home values are only 2.4% higher than where they would need to be, and in Baltimore, they are 3.7% higher — but others have seen affordability deteriorate much more. Salt Lake City, Nashville, Dallas and Las Vegas are furthest away from their historical affordability, at least 37% above where they would need to be to once again reach that level. Far from a significant drop, Zillow's home value forecast calls for home values to remain nearly flat in the 12 months ending September 2023. It would take a sharp increase in inventory for home values to fall dramatically. That is simply not the case right now. Overall inventory is ticking up, but it remains nearly 40% below pre-pandemic levels and is nowhere near a glut that would put the market in a position for significant price drops. New listings are coming onto the market at a mere trickle, down 16% in September compared to a year prior. In 2022 to date, there have been about 11% fewer homes listed than at this point in 2019. Many homeowners have mortgages with low rates from purchasing or refinancing earlier in the pandemic, and have very little financial incentive to sell while mortgage rates are this high. Most also have significant equity in their homes, which makes it unlikely that a large number of properties will be forced into distressed sales, like many were during the Great Recession. The housing market slowdown is being driven by discouraged buyers pulling back as their budgets are stretched. Some buyers simply have been priced out of today's market, but those who are waiting for affordability to improve will likely have a long wait ahead of them. If home values continue to fall, buyers will likely reenter the market and drive values back up. And while mortgage rates are nearly impossible to predict, inflation pressures remain strong, and it's perhaps a better bet that rates will rise further than come back down. Affordability is clearly a major challenge for home buyers. The silver lining is that first-time buyers who can overcome these steep obstacles have an opportunity to shop with more bargaining power, less chance of a bidding war and more time to consider their options. Zillow has gathered tools that can help shoppers make the leap to homeownership on one easy-to-navigate web page. 1 Recent norms indicate the historical average (2005–2021) share of median household income needed for a mortgage payment (principal and interest only) on the typically valued home. The home value change needed to return to affordability norms assumes incomes do not change. 2 Monthly principal and interest on a 30-year fixed-rate mortgage for the typical U.S. home as of September 2022, assuming a 20% down payment and the interpolated average 30-year interest rate reported by Freddie Mac’s Primary Mortgage Market Survey on the last day of the month. About Zillow Group Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make it easier to unlock life's next chapter. As the most visited real estate website in the United States, Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting, or financing with transparency and ease. Zillow Group's affiliates and subsidiaries include Zillow®; Zillow Premier Agent®; Zillow Home Loans™; Zillow Closing Services™; Trulia®; Out East®; StreetEasy®; HotPads®; and ShowingTime+™, which houses ShowingTime®, Bridge Interactive®, and dotloop®. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org).

NAR Integrates CompStak into RPR Platform as Benefit for Commercial Members
WASHINGTON (October 13, 2022) – The National Association of Realtors® and CompStak announced today a partnership to integrate CompStak into the Realtors Property Resource® platform. All NAR commercial members will have access to CompStak Exchange, an analyst-reviewed comp data and analytics platform. Members will also receive exclusive promotional credits that can be used to discover timely comps in their respective markets. The CompStak platform handles millions of data points weekly to create its comprehensive commercial real estate data set. "NAR and RPR® continue to build strategic partnerships and enhance our technology resources to advance the goal of being vital business partners to Realtors® who practice commercial real estate," said Jeff Young, RPR®'s COO and general manager. "Each asset and service we add supports their businesses and adds growth to their bottom line. We are thrilled to partner with CompStak to deliver a unique tool for brokers' toolboxes that provides valuable information for their clients and helps them close more transactions." NAR's commercial members can sign up for CompStak and redeem this benefit by visiting the "Additional Resources" section of any RPR® commercial property page and clicking the CompStak logo, or by visiting compstak.com/realtor. Members who already have a CompStak account can email [email protected] with their names and email addresses associated with the account to receive the benefit. "One of our goals in this collaboration is to provide NAR's commercial members with quick access to accurate and transparent data," said CompStak CEO Michael Mandel. "We are excited about CompStak's integration into RPR®, which will provide Realtors® with a competitive edge and lead to better, faster deals for everyone." Michael Hinton, CCIM, 2022 commercial board president at Miami Association of Realtors® and a senior associate at Apex Capital Realty, has been using CompStak's platform for the past four years and attributes the service with supporting his success. "CompStak has been a great source for detailed leasing and sales information for commercial properties," said Hinton. "The service has certainly helped me win more than a few listings by allowing me to provide quality information to my new clients. Using RPR® and CompStak together will be a huge benefit – both timewise and in cost savings – for me and all NAR commercial members." Realtors® can log in to RPR® at narrpr.com and visit the RPR® blog to review updates on new RPR® product enhancements and related learning. About NAR The National Association of Realtors® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. About Realtors Property Resource® Realtors Property Resource, LLC® (RPR®), a wholly-owned subsidiary of the National Association of Realtors®, is an exclusive online real estate database created to support the core competence of its members. The parcel-centric database, covering more than 160 million residential and commercial U.S. properties, provides Realtors® with the analytical power to help clients make informed decisions while increasing efficiency in the marketplace. For more information about RPR®, visit http://blog.narrpr.com. About CompStak CompStak is a commercial real estate data and analytics platform leveraging crowdsourced commercial lease and sale transaction data and property information combined with AI driven analytics. CompStak's 30,000 members provide data covering the entire US, and its paying customers include the world's largest real estate investors and lenders like Wells Fargo, Tishman Speyer, AEW, CIM, Moody's and many more. For more information, visit compstak.com.

Collabra Technology Introduces First Social Listing Videos with Real-Time, Hyper-Local Housing Market Analytics
RElumio Market Spotlight leverages video to build an agent's personal brand and grow their digital sphere of influence SPOKANE, WASH., Oct. 4, 2022 — Collabra Technology, a digital marketing company that helps real estate professionals grow their digital sphere of influence, today launched RElumio™ Market Spotlight™, giving agents the ability to combine their listing with real-time, hyper-local market analytics into a beautiful, attention-grabbing video. RElumio Market Spotlight includes up-to-the-minute, ZIP Code-level market insights with an agent's listing to create a short home presentation video — a first for the industry. Videos utilize Plunk's new analytics platform which tracks and captures housing market performance in real time. With RElumio Market Spotlight, agents can now provide valuable market insights to their digital sphere of influence with just one click – eliminating hours of data gathering and editing. According to the National Association of REALTORS, 73% of homeowners are more likely to list with an agent who uses video, making shareable video one of the best ways to brand, advertise and separate an agent from the competition. "This fast-changing real estate market is an opportunity for agents to build their brand and strengthen their digital sphere of influence," said Russ Cofano, CEO, Collabra Technology. "RElumio Market Spotlight makes the agent the expert, giving them an edge over the competition." "RElumio's Market Spotlight is a breakthrough tool for agents," remarked David Bluhm, co-founder and president of Plunk. "They can now instantly create and share stunning social videos that generate leads while also strengthening their brand as the local market authority. It's an absolute no-brainer." RElumio connects directly with MLSs to create cutting-edge marketing materials to shine a light on an agent's listing and help build their digital brand with listing videos, websites, flyers and market data all in one easy step. About Collabra Technology Collabra Technology delivers smarter content, better data and actionable insights that help real estate professionals grow their sphere of influence. It fosters lifelong client relationships. For more information and to sign up to receive the upcoming free Guide to Digital Sphere Mastery, visit collabratechnology.com. Follow us on Facebook, LinkedIn and Twitter.

Home values decline for second month as competition eases
Bouncing mortgage rates hinder buyers stressed about affordability SEATTLE, Sept. 19, 2022 -- Home values slipped for the second consecutive month as mortgage costs continue to sideline buyers, according to Zillow's latest market report1. Affordability is driving market momentum: Low-cost markets remain competitive while prices drop the fastest in both the most expensive markets and those that witnessed the strongest appreciation during the pandemic. In addition to affordability challenges, recent volatility in mortgage rates is making it difficult for many borrowers to qualify for a loan or even plan for their purchase. "Substantial day-to-day and week-to-week rate movements mean that many potential buyers are able to qualify for a loan one week, but not the next, or vice versa," said Skylar Olsen, chief economist at Zillow. "Even buyers able to afford a house at current rates could feel frozen, waiting for mortgage rates to fall dramatically again, like they did from the end of June to mid-July, when rates dropped 50 basis points in just two weeks." As the share of median household income needed to pay monthly mortgage costs now stands beyond the 30% level considered to be a financial burden, uncertainty itself could be holding up a large population of buyers who could otherwise still afford to move forward with a loan. It's likely that this problem will continue until markets stabilize and return to some semblance of normalcy, Olsen said. The U.S. typical home value fell 0.3% from July to August and now stands at $356,054, as measured by the raw2 Zillow Home Value Index. That's the largest monthly decline since 2011 and follows a 0.1% decrease in July. Appreciation has receded since peaking in April, but typical home values are still up 14.1% from a year ago and 43.8% since August 2019, before the pandemic. Typical mortgage payments show an even starker picture of the astronomical growth of expenses for new homeowners over the past three years. The historic rise in home prices over the pandemic combined with this year's spiking mortgage rates have pushed the monthly mortgage payment on a newly-purchased typical home, including insurance and taxes, from $897 in August 2019 to $1,643 – an 83% increase. Reduced competition has homes lingering on the market. Typical time before a listing goes pending is now 16 days3, three days more than in July — a steeper increase than the market usually sees this time of year — and up from an all-time low of six days in April. Inventory ticked up, rising 1% from July. But that's by far the smallest monthly increase since February. A significant decline in the flow of new listings to the market over the past two months indicates that the slight rise in total inventory is the result of homes taking longer to sell, rather than extra selling activity. Mortgage rates hovering around 6% are likely dissuading many owners from selling their current homes and entering the market as buyers. Affordable markets in the Midwest are generally retaining their heat while competition is cooling most rapidly in Western markets, especially those that either cost the most or saw the most extreme appreciation over the pandemic. Home values rose from July to August in 12 of the 50 largest U.S. markets, led by Birmingham (0.9%), Indianapolis (0.5%), Cincinnati (0.4%) and Louisville (0.2%). Those four all have a typical home value well under $300,000. Miami, in the fifth spot, breaks the trend here, but also features the highest rent growth over the past three years by far, which could be stoking demand for purchases. Values fell the furthest month over month in San Francisco (-3.4%), Los Angeles (-3.4%), Sacramento (-3.2%) and Salt Lake City (-2.6%). Listings' time to pending saw similar trends, decreasing since July by one day in Milwaukee and staying steady in St. Louis, Cincinnati, Columbus and Louisville. Markets with the largest increase were Las Vegas by 11 days, Austin (10), Phoenix (8) and Riverside (7). Sellers appear to be coming to grips with the new market paradigm. The share of listings with a price cut rose by just one percentage point since July, compared with much steeper hikes in previous months. Roughly 28% of listings nationally received a price cut — slightly higher than August 2019's rate of 22%. The share of listings with a price cut is highest in Salt Lake City, Phoenix, Las Vegas and Austin. Markets with the lowest rates for price cuts are Milwaukee, New York, Hartford and Boston. Rent growth continued to ease in August, with typical rent of $2,090 now 12.3% above that of last August — down from a peak of 17.2% annual growth in February. Annual rent growth is strongest in Miami (21.9%), New York (17.9%), Orlando (17.5%) and San Diego (17.1%). *Table ordered by market size 1 The Zillow Real Estate Market Report is a monthly overview of the national and local real estate markets. The reports are compiled by Zillow Research. For more information, visit www.zillow.com/research. 2 Home value figures in the August 2022 Zillow market report represent the raw version of the Zillow Home Value Index. Zillow Research has chosen to present the raw version during this period of unparalleled volatility. The full series of all ZHVI versions, including geographic cuts down to the ZIP code level, are available for download at https://www.zillow.com/research/data/. 3 Raw median days to pending. A smoothed (3-month moving average) version of this metric appeared in previous market reports. About Zillow Group Zillow Group, Inc. (NASDAQ: Z) and (NASDAQ: ZG) is reimagining real estate to make it easier to unlock life's next chapter. As the most visited real estate website in the United States, Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting or financing with transparency and ease.

'Shrinkflation' hits $1 million homes, down 397 square feet since 2020
Market share of $1 million-plus homes more than doubled during the pandemic SEATTLE, Aug. 30, 2022 -- Sales of homes costing $1 million more than doubled over the past three years, but as with many products in the grocery store, buyers are getting less than they used to, according to a new analysis by Zillow. Million-dollar homes are getting smaller. Homes that sold at or near $1 million contracted nearly 500 square feet, from a peak of 3,021 in the middle of 2020 to a valley of 2,530 in early 2022, according to floor plan data for Zillow listings. Home size bounced back before July and is now 2,624 square feet, down 397 square feet from the 2020 peak. "Buyers with seven-figure budgets shopping for homes during the pandemic were doing so coming off the longest period of economic growth in U.S. history and with the help of historically low interest rates," said Anushna Prakash, economic data analyst at Zillow. "Sales for expensive homes soared while buyers in the heat of competition accepted smaller layouts." The typical home in the $1 million range shrank in nearly every major metropolitan area. The largest declines are found in Phoenix — down 1,116 square feet from 2019 to 2022 — and Nashville, where these homes lost 1,019 square feet. Floor plans grew in just two major metros: by a closet in Minneapolis (36 square feet), and by at least a room and a half in St. Louis (406). The size of a $1 million home dropped in nearly every major metropolitan area Overall home sales were elevated during the pandemic, but have slowed in recent months as affordability challenges have pushed many buyers to the sidelines. The recent move of the market toward rebalancing has shifted competition away from mid- and high-tier properties, and back to the most affordable homes. Sales for homes priced at $1 million or more rose from 43,421 in the second quarter of 2019 to 90,110 in 2022, a new record volume. These once-rare digs also constitute a much greater portion of the total market. As home values skyrocketed across the country, the share of single-family homes that sold for $1 million or more has more than doubled, moving from 2.7% in 2019 to 2.5% in 2020 to 6.4% now. Portland led major metros in sales volume increase: The number of $1 million-plus sales soared by 253% since mid-2019. Austin, where home values are up 71% since mid-2019, saw sales jump by 220%. The only metro that witnessed a decline in the volume of transactions with a $1 million-plus price tag was Boston, where the share fell by 32%. Boston and other major East Coast metros had relatively low appreciation over the past three years compared to other regions. Portland, Austin and Riverside are where sales of $1 million-plus homes have risen the most since 2019. Sales rose the least in San Jose and San Francisco, and fell in Boston. One million dollars in San Jose will buy just three bedrooms, two bathrooms and just shy of 1,400 square feet of living space — about $715 per square foot, the highest amount among major metros. For context, a typical single-family home in San Jose was valued at over $1.5 million in July. Far from an exclusive membership, homes costing $1 million or more are the norm in the San Jose area, comprising 72% of the country's most expensive market. Those looking for the most bang for their million bucks should head to Hartford, Connecticut, then to the Midwest. Among the 50 major metros included in the study, Hartford has the lowest price per square foot at $205, followed closely by Indianapolis, Oklahoma City, Kansas City and Cincinnati. Though options in that range are limited in these areas, it's hard to deny the opulence afforded by the expense, with square footage upward of 4,500. *Table ordered by market size Methodology One million-dollar homes are defined as single-family homes that sold for between $950,000 and $1,050,000. Condominiums are excluded to better control for composition of homes across markets. One million-dollar-plus homes are defined as single-family homes that sold for $1,000,000 or more. Additionally, metropolitan areas that had fewer than 30 sales of $1 million homes in a quarter are excluded from the analysis, due to limited observations from which to draw trends. About Zillow Group Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make it easier to unlock life's next chapter. As the most visited real estate website in the United States, Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting or financing with transparency and ease. Zillow Group's affiliates and subsidiaries include Zillow®, Zillow Premier Agent®, Zillow Home Loans™, Zillow Closing Services™, Trulia®, Out East®, ShowingTime®, Bridge Interactive®, dotloop®, StreetEasy® and HotPads®. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org).

Showing Activity Continues to Slow Nationwide in May as Fewer Buyers Compete for Listings
The U.S. saw an average drop in buyer traffic of 18.2% year over year in May according to data from ShowingTime, with 35 markets recording double-digit showings per listing compared to 104 last May. For the third consecutive month, traffic was busiest in Burlington, Vt., and Bloomington-Normal, Ill. CHICAGO, June 30, 2022 -- May home showing traffic slowed again year-over-year throughout the U.S., with just 35 markets recording double-digit showings per listing, and the latest data shows a sea change in which markets are the most popular. That's according to ShowingTime, one of the residential real estate industry's leading technology providers of showing management and market statistics. The smallest drop was in the Northeast, according to the ShowingTime Showing Index®, where its 13.3% decline was relatively modest compared to the other regions: the Midwest was down 15.1% year over year, the South was off 22.2% while the West's 45.3% decline in buyer activity was the most significant. Overall, the U.S. recorded an 18.2% downturn in activity in May. Notably, the perennial leaders in buyer activity over most of the past year – Denver and Seattle – both fell out of the top 25 busiest markets, with each averaging around 10 showings per listing, breaking a streak that began in early 2021. The slowdown continued a trend that began this spring, ending what had been a months-long streak of year-over-year growth in buyer activity across the U.S. During that earlier stretch, the number of markets recording double-digit showings per listing regularly reached triple digits. Though activity has slowed, Burlington, Vt., with 15.80 showings per listing and Bloomington-Normal, Ill., with 12.39 remained at the top of the list, with both also recording year-over-year increases in buyer traffic. Bridgeport, Conn. and Cleveland, Ohio were close behind, with Richmond, Va.; Akron, Ohio; Rochester, N.Y.; and Hartford, Conn. also recording double-digit showings per listing. "Showing activity continues to be at levels lower than we're used to seeing at this time of year, pointing to a market in transition," said ShowingTime Vice President and General Manager Michael Lane. "Following the surge in mortgage rates, it's reasonable to expect that showing activity will continue to ease, especially when compared to last year's historic numbers." The ShowingTime Showing Index is compiled using data from more than six million property showings scheduled across the country each month on listings using ShowingTime products and services. It tracks the average number of appointments received on active listings during the month. About ShowingTime ShowingTime is an industry leader in home touring technology and a proud affiliate of Zillow Group, Inc. ShowingTime's technology and services simplify the tour scheduling process for buyers, sellers and agents across the industry. ShowingTime products are used in hundreds of MLSs representing more than one million real estate professionals across the U.S. and Canada.

Realtor.com June Housing Report: For-Sale Home Supply Grows Faster than Ever as New Seller Activity Rebounds
In June, active inventory jumped 18.7% year-over-year as new listings surpassed typical pre-COVID levels, while the national median listing price hit a new high of $450,000 SANTA CLARA, Calif., June 30, 2022 -- The inventory recovery made major strides in June, with the number of homes available to buyers climbing at its fastest yearly pace of all time (+18.7%), according to the Realtor.com Monthly Housing Trends Report released today. Among key factors driving June's jump in active listings were new sellers, who entered the market at a higher rate than in 2017-2019 prior to the pandemic. "Our June data shows the inventory recovery accelerated, posting the second straight month of active listings growth in nearly three years. We expect these improvements to continue, as predicted in our newly-updated 2022 forecast," said Danielle Hale, Chief Economist for Realtor.com. "While we anticipate that more inventory will eventually cool the feverish pace of competition, the typical buyer has yet to see meaningful relief from quickly selling homes and record-high asking prices. However, a deeper dive into June's inventory gains by square footage reveals potential opportunities for move-up buyers, as newly-listed homes skewed larger. In other words, this first wave of supply improvements may be particularly opportune for summer sellers looking to upgrade from their starter homes, which could mean more equity to put towards purchasing a bigger property." Hale added, the increase in larger, more expensive homes as a share of new listings is one reason that overall asking prices continue to soar despite moderating demand. In June, homes with at least 1,750 square feet accounted for more new listings (54.3%, up from 52.7% in 2021) than relatively smaller homes (45.7%, down from 47.3% in 2021). June 2022 Housing Metrics – National Inventory climbs as buyer demand cools and seller activity rebounds The inventory recovery from 2021 declines continued to accelerate in June, due to the combination of rebounding new listings growth and moderating demand, reflected in recent home sales trends. While still-hot housing competition is motivating more new sellers to list, some buyers are being priced out of the market by rising mortgage rates and record-high asking prices that have driven up typical mortgage payments by 58% from a year ago. In June, the U.S. inventory of active listings grew 18.7% year-over-year, a faster pace than last month (+8.0%). However, there are still fewer than half (-53.2%) as many for-sale homes compared to June 2019. One factor behind June's accelerated inventory improvement was pending listings declines (-16.3% year-over-year), which means fewer for-sale homes under contract with a buyer. Additionally, new seller activity rebounded to 1.0% greater than its 2017-2019 pace, with new listings up 4.5% year-over-year. Compared to June 2021, active inventory increased in 40 of the 50 largest U.S. metros, led by Austin, Texas (+144.5%), Phoenix (+113.2%), and Raleigh, N.C. (+111.7%). June's biggest new listings gains were posted in southern markets (+11.0%): Raleigh (+37.6%), Nashville, Tenn. (+37.2%) and Charlotte, N.C. (+30.1%), as well as Las Vegas, Nevada (+34.8%). Home shoppers are still snatching up homes quickly, but there are early signs of relief Despite cooling demand, June time on market trends relative to last year show that buyers continued to snatch up homes at a near-record-fast pace. However, month-to-month data tells the beginnings of a different story, with overall time on market growing from May to June for the first time since 2019. Additionally, while homes moved more quickly than in June 2021 across all size tiers, declines were greater among larger for-sale homes. These trends suggest that one potential reason why the overall pace of time on market remains competitive, despite softening demand, could be a shift in the mix of home shoppers, such as an increase in move-up buyers. The typical U.S. home spent 32 days on market in June, nearly a full month (-27 days) faster than usual June 2017-2019 timing. Time on market held close to May's record-low, but posted a slightly smaller yearly decline month-to-month (-4 days vs. -6 days). Among June's active inventory, some listings with more square footage, such as those with 3,000-6,000 square feet sold faster year-over-year (-8.5 days) than relatively smaller homes like those with 750-1,750 square feet (-5 days). In June, 34 of the 50 largest markets posted annual declines in time on market, led by southern (-4 days) and northeastern (-2 days) metros: Miami (-22 days), Hartford, Conn. (-8 days) and Jacksonville, Fla., Orlando, Fla. and Atlanta, Georgia (-7 days). Meanwhile, time on market was flat year-over-year in six markets and grew in ten metros, led by Austin (+6 days), Denver and Detroit (+4 days each). Typical asking prices soar to latest record, reflecting still high seller expectations Nationally, typical asking prices again soared double-digits over 2021 levels in June, reaching their latest new high, suggesting that many sellers still have great expectations of the market. At the same time, a number of June trends indicate that sellers are beginning to compete for fewer buyers who have more options. Both active and pending listing prices posted smaller yearly gains than last month, while the share of total inventory with price reductions increased. In June, the U.S. median listing price hit its latest record-high of $450,000, up 16.9% year-over-year. However, active listing prices posted a slightly smaller gain than last month (+17.6%), as did pending listing prices (to 13.9% from 16.2%). Relative to June's national rate, listing prices grew at a faster annual pace in 15 large markets, led by: Miami (+40.1%), Orlando, Fla. (+30.6%) and Nashville (+30.6%). Four markets posted year-over-year declines: Pittsburgh (-8.6%), Rochester, N.Y. (-5.9%), Cincinnati (-5.7%) and Buffalo, N.Y. (-2.0%). However, in all of these metros aside from Pittsburgh, the price per square foot grew on an annual basis, indicating that a change in the mix of homes has pushed the median listing price lower. The share of total homes with a price reduction grew year-over-year nationwide (+7.6 percentage points) in June, as well as in all 50 but one of the largest metros, most significantly in: Austin (+24.7), Phoenix (+22.2) and Las Vegas (+20.1). Roughly one-in-seven homes in June had a price reduction, up from roughly one-in-13 in June 2021, but still below the one out of every four-to-five that was typical in 2017-2019. Spotlight On: Condos offer relative affordability in most U.S. counties Despite recent supply improvements, affordability remains a significant obstacle to homeownership for many Americans. Home shoppers are feeling the strain on their budgets due to higher-than-anticipated inflation, mortgage rates, home and rental prices, down payments and more. In this context, Realtor.com® recently compared 2021 home sales trends among single-family homes versus condos2 to identify potential opportunities for buyers to find relatively affordable housing, with key findings including: Nationwide, the typical condo sold for an average of 6.7% less than the typical single-family home in 2021. Location explains this understated trend. Common to crowded big cities where real estate typically comes at a premium, the vast majority (84.1%) of condos were sold in just 6% of counties. Drilling down to the county-level in New York, Massachusetts, Illinois and Washington, states with high levels of 2021 condo sales, reveals that condo prices were an average 13.5% lower than single-family homes. In the cities of New York, Boston, Chicago and Seattle, condo buyers paid an average of 33.2% less. While these opportunities are driving demand for condos, recent data shows home shoppers may still find relatively affordable condo listings. In June, condos made up 20.2% of active inventory and were listed at 17.5% lower prices (on average across the 50 largest metros) than single-family homes. "As big city buyers looked for ways to stay on budget in 2021, our analysis shows opting for a condo offered a solution in some counties. And there may still be opportunities going forward, even as condos' relatively lower price point is driving up their popularity and prices. If demand leads builders to ramp up condo construction, and the resulting increase in supply may help keep condo prices more manageable than those of single-family homes," said Hannah Jones, Economic Research Analyst for Realtor.com®. May 2022 Housing Metrics – 50 Largest U.S. Metro Areas *Note: Hartford active listing count growth is not available while data is under review. Methodology Realtor.com® housing data as of June 2022. Listings include active inventory of existing single-family homes and condos/townhomes/rowhomes/co-ops for the given level of geography; new construction is excluded unless listed via an MLS. Condo analysis: Based on full-year 2021 home sales data on condos/townhomes, referred to as condos in this release, for counties in the New York City, Boston, Chicago and Seattle areas, and the states of N.Y., Mass., Ill. and Wash. County-level analysis focuses on areas with at least 15 condo sales to ensure data quality. See more details here. About Realtor.com® Realtor.com® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago, and today through its website and mobile apps offers a marketplace where people can learn about their options, trust in the transparency of information provided to them, and get services and resources that are personalized to their needs. Using proprietary data science and machine learning technology, Realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, Realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.

Existing-Home Sales Fell 3.4% in May; Median Sales Price Surpasses $400,000 for the First Time
WASHINGTON (June 21, 2022) -- Existing-home sales retreated for the fourth consecutive month in May, according to the National Association of Realtors. Month-over-month sales declined in three out of four major U.S. regions, while year-over-year sales slipped in all four regions. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, fell 3.4% from April to a seasonally adjusted annual rate of 5.41 million in May. Year-over-year, sales receded 8.6% (5.92 million in May 2021). "Home sales have essentially returned to the levels seen in 2019 – prior to the pandemic – after two years of gangbuster performance," said NAR Chief Economist Lawrence Yun. "Also, the market movements of single-family and condominium sales are nearly equal, possibly implying that the preference towards suburban living over city life that had been present over the past two years is fading with a return to pre-pandemic conditions." Total housing inventory registered at the end of May was 1,160,000 units, an increase of 12.6% from April and a 4.1% decline from the previous year (1.21 million). Unsold inventory sits at a 2.6-month supply at the current sales pace, up from 2.2 months in April and 2.5 months in May 2021. "Further sales declines should be expected in the upcoming months given housing affordability challenges from the sharp rise in mortgage rates this year," Yun added. "Nonetheless, homes priced appropriately are selling quickly and inventory levels still need to rise substantially – almost doubling – to cool home price appreciation and provide more options for home buyers." The median existing-home price for all housing types in May was $407,600, up 14.8% from May 2021 ($355,000), as prices increased in all regions. This marks 123 consecutive months of year-over-year increases, the longest-running streak on record. Properties typically remained on the market for 16 days in May, down from 17 days in April and 17 days in May 2021. Eighty-eight percent of homes sold in May 2022 were on the market for less than a month. First-time buyers were responsible for 27% of sales in May, down from 28% in April and down from 31% in May 2021. NAR's 2021 Profile of Home Buyers and Sellers – released in late 2021 – reported that the annual share of first-time buyers was 34%. All-cash sales accounted for 25% of transactions in May, down from 26% in April and up from 23% recorded in May 2021. Individual investors or second-home buyers, who make up many cash sales, purchased 16% of homes in May, down from 17% in April and 17% in May 2021. Distressed sales – foreclosures and short sales – represented less than 1% of sales in May, essentially unchanged from April 2022 and May 2021. According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage was 5.23% in May, up from 4.98% in April. The average commitment rate across all of 2021 was 2.96%. Realtor.com®'s Market Trends Report in May shows that the largest year-over-year median list price growth occurred in Miami (+45.9%), Nashville (+32.5%), and Orlando (+32.4%). Austin reported the highest growth in the share of homes that had their prices reduced compared to last year (+14.7 percentage points), followed by Las Vegas (+12.3 percentage points) and Phoenix (+11.6 percentage points). Single-family and Condo/Co-op Sales Single-family home sales declined to a seasonally adjusted annual rate of 4.80 million in May, down 3.6% from 4.98 million in April and down 7.7% from one year ago. The median existing single-family home price was $414,200 in May, up 14.6% from May 2021. Existing condominium and co-op sales were recorded at a seasonally adjusted annual rate of 610,000 units in May, down 1.6% from April and down 15.3% from one year ago. The median existing condo price was $355,700 in May, an annual increase of 14.8%. "Declining home purchases means more people are renting, and the resulting rent price escalation may spur more institutional investors to buy single-family homes and turn them into rental properties – placing additional financial strain on prospective first-time homebuyers," said NAR President Leslie Rouda Smith, a Realtor® from Plano, Texas, and a broker associate at Dave Perry-Miller Real Estate in Dallas. "To counter this trend, policymakers should consider incentivizing an inventory release to the market by temporarily lowering capital gains taxes for mom-and-pop investors to sell to first-time buyers." Regional Breakdown Existing-home sales in the Northeast climbed 1.5% in May to an annual rate of 680,000, falling 9.3% from May 2021. The median price in the Northeast was $409,700, a 6.7% rise from one year ago. Existing-home sales in the Midwest dropped 5.3% from the previous month to an annual rate of 1,240,000 in May, slumping 7.5% from May 2021. The median price in the Midwest was $294,500, up 9.5% from one year before. Existing-home sales in the South declined 2.8% in May to an annual rate of 2,410,000, down 8.4% from the previous year. The median price in the South was $375,000, a 20.6% jump from one year ago. For the ninth consecutive month, the South recorded the highest pace of price appreciation in comparison to the other three regions. Existing-home sales in the West slid 5.3% compared to the month before to an annual rate of 1,080,000 in May, down 10.0% from this time last year. The median price in the West was $633,800, an increase of 13.3% from May 2021. The National Association of Realtors® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries.

Realtor.com May Housing Report: Inventory Stages a Comeback While Home Prices Soar to All-Time High
In May, active inventory increased year-over-year (+8.0%) for the first time in nearly three years, but remained 48.5% lower than at the start of the pandemic SANTA CLARA, Calif., June 2, 2022 -- New data suggests the U.S. housing market hit a turning point in its supply struggle in May, as active inventory recorded the first year-over-year increase since June 2019, according to the Realtor.com Monthly Housing Trends Report released today. At the same time, the median national home price soared to an all-time high of $447,000 and buyers snatched up listings a week faster than last year. "Among key factors fueling the inventory comeback are new sellers, who are listing homes at a rate not seen since 2019, as well as moderating demand, with pending listings declining year-over-year in May," said Danielle Hale, Chief Economist for Realtor.com. "While this real estate refresh is welcome news in a still-undersupplied market, it has yet to make a dent in home price growth, partially due to increases in newly-listed, larger homes and because the typical seller outlook is quite high, likely shaped by recent experiences of homeowners who sold. Importantly, as 72% of this year's sellers also plan to purchase a home, seller expectations will likely start to reflect buyers' needs. In an early sign, the rate of sellers making price cuts accelerated in May." May 2022 Housing Metrics – National Inventory grows for the first time in three years, as more new sellers enter the market The U.S. inventory of active listings grew year-over-year for the first time since June 2019, with this comeback driven by two key trends. First, new listings reached the highest level of any month in nearly three years, as rising numbers of sellers might be more confident in pursuing plans to list than last Spring when COVID vaccines were just rolling out. Second, higher housing costs are spurring a moderation in buyer demand. This is reflected in May's bigger year-over-year declines in pending listings – those at various stages of the selling process that are not yet sold – compared to April, a sign of softening in the turnover rate of for-sale homes. Nationally, the number of active listings increased 8.0% year-over-year in May, but remained 48.5% below typical levels in May 2020 at the onset of COVID. Compared to last month's year-over-year changes, May's national data showed a significant improvement in the new listings trend (+6.3% vs. 1.3%) and a bigger decline in pending listings (-12.6% vs. -8.7%). Among May's new listings, the share of smaller homes (up to 1750 square feet) declined year-over-year (to 45.7% from 47.3%), while those with 1,750-plus square feet increased from 52.7% to 54.3%. On average in the 50 largest U.S. markets, active inventory grew by double-digits (+14.9%) over May 2021 levels, with the biggest increases in the West (+33.6%) and South (+18.3%), led by Austin, Texas (+85.8%), Phoenix (+67.1%) and Sacramento, Calif. (+54.6%). Active listings declined on a year-over-year basis in just 8 markets. Thirty markets posted annual gains in newly-listed homes, with the biggest increases registered in southern metros: Raleigh, N.C. (+27.9%), Nashville, Tenn. (+22.8%), and Las Vegas (+20.7%). Asking prices for homes break another record, as seller expectations remain high May's increase in for-sale home options combined with softening buyer demand would typically drive a cooldown in home prices, but data shows that is not yet the case. In fact, the yearly growth rate in the U.S. median listing price accelerated from last month's pace as the median listing price approached $450,000 after just crossing the $400,000 threshold in March. From asking prices per square foot to pending listing prices, May housing trends suggest that a few factors are potentially driving the continued home price surge. These include a rising share of newly-listed, larger homes by square footage and some sellers not yet adjusting to shifting supply and demand dynamics, including buyer interest in less expensive homes. The U.S. median listing price hit an all-time high of $447,000 in May, rising at a faster year-over-year pace (+17.6%) than last month (+14.2%). On a square foot basis, asking prices for active listings increased 16.2% over May 2021 levels. In a potential sign of softening buyer demand at the national level, the median listing price of a typical pending listing actually decelerated in May over April, to a yearly rate of 16.2% from 17.2%. Additionally, the national share of listings that had their price reduced jumped to 10.5% in May from 7.0% in April, but the rate remains well below typical pre-COVID levels. Active listing prices in the nation's largest metros grew by an average of 13.0% compared to last year in May, with the biggest gains recorded in Miami (+45.9%), Nashville (+32.5%), and Orlando, Fla. (+32.4%). In May, median listing prices were down year-over-year in just six large markets, which were: Pittsburgh (-10.5%), Rochester, N.Y. (-9.7%), Cincinnati (-9.6%), Cleveland (-2.3%), Detroit (-1.8%), and Buffalo, N.Y. (-1.2%). Buyers are still quickly snatching up homes, at a week faster than last year Similar to norms one would expect to see in home price trends, the increase in for-sale home options combined with softening buyer demand would typically drive a deceleration in time on market. However, time on market data did not yet show this trend in May, as buyers snatched up listings more quickly than in any month in the Realtor.com® data history going back to July 2016 – a record that typically isn't hit until the Summer season. For some homebuyers who have yet to be priced out of the market but can't afford to compete by making a larger down payment, acting quickly might give them an edge. In May, the typical U.S. home spent 31 days on the market , a full week less (-6 days) than last year and down 27 days compared to typical May 2017 to 2019 timing. Across the 50 largest U.S. metros, the typical home spent 26 days on market, down six days year-over-year, with the biggest declines registered in the South (-7 days). At the market level, homes saw the greatest yearly decline in time spent on market in Miami (-28 days), followed by a three-way tie between Hartford, Conn., Seattle and San Jose, Calif. (-12 days). Just one market posted a year-over-year increase in time on market: Detroit (-1 day), where homes still moved at a close to record-fast pace. May 2022 Housing Metrics – 50 Largest U.S. Metro Areas *Note: Oklahoma City new listing count growth and Hartford active listing count growth are not available while data is under review. Methodology Realtor.com® housing data as of May 2022. Listings include active inventory of existing single-family homes and condos/townhomes for the given level of geography; new construction is excluded unless listed via an MLS. About Realtor.com® Realtor.com® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago, and today through its website and mobile apps offers a marketplace where people can learn about their options, trust in the transparency of information provided to them, and get services and resources that are personalized to their needs. Using proprietary data science and machine learning technology, Realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, Realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com.

Pending Home Sales Descend 3.9% in April
WASHINGTON (May 26, 2022) -- Pending home sales slipped in April, as contract activity decreased for the sixth consecutive month, the National Association of Realtors reported. Only the Midwest region saw signings increase month-over-month, while the other three major regions reported declines. Each of the four regions registered a drop in year-over-year contract activity. The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, slid 3.9% to 99.3 in April. Year-over-year, transactions fell 9.1%. An index of 100 is equal to the level of contract activity in 2001. "Pending contracts are telling, as they better reflect the timelier impact from higher mortgage rates than do closings," said Lawrence Yun, NAR's chief economist. "The latest contract signings mark six consecutive months of declines and are at the slowest pace in nearly a decade." With mortgage rates rising, Yun forecasts existing-home sales to wane by 9% in 2022 and home price appreciation to moderate to 5% by year's end. "The escalating mortgage rates have bumped up the cost of purchasing a home by more than 25% from a year ago, while steeper home prices are adding another 15% to that figure." In some cases, these higher rates increase mortgage payments by as much as $500 per month. Yun notes that such price hikes are already a burden, but they become even more problematic to a family on a budget contending with rapid inflation, including surging fuel and food costs. "The vast majority of homeowners are enjoying huge wealth gains and are not under financial stress with their home as a result of having locked into historically low interest rates, or because they are not carrying a mortgage," Yun explained. "However – in this present market – potential homebuyers are challenged and thus may attempt to mitigate the rising cost of ownership by opting for a 5-year adjustable-rate mortgage or by widening their geographic search area to more affordable regions." Yun cites that more work-from-home opportunities have allowed would-be buyers to expand their home search. There are scenarios in which the market soon improves for buyers, as well, according to Yun. "If mortgage rates stabilize roughly at the current level of 5.3% and job gains continue, home sales could also stabilize in the coming months," Yun said. "Home sales in 2022 are expected to be down about 9%, and if mortgage rates climb to 6%, then the sales activity could fall by 15%. "Home prices in the meantime appear in no danger of any meaningful decline," he continued. "There is an ongoing housing shortage, and properly listed homes are still selling swiftly – generally seeing a contract signed within a month." April Pending Home Sales Regional Breakdown Month-over-month, the Northeast PHSI fell 16.20% to 74.8 in April, a 14.3% drop from a year ago. In the Midwest, the index rose 6.6% to 100.7 last month, down 2.8% from April 2021. Pending home sales transactions in the South dipped 4.7% to an index of 119.0 in April, down 10.3% from April 2021. The index in the West slipped 4.3% in April to 85.9, a 10.5% decrease from a year prior. The National Association of Realtors® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries.

Existing-Home Sales Retract 2.4% in April
WASHINGTON (May 19, 2022) -- Existing-home sales recorded a third straight month of declines, slipping slightly in April, according to the National Association of Realtors. Month-over-month sales were split amongst the four major U.S. regions, with two areas posting gains and the other two experiencing waning in April. Year-over-year sales struggled, as each of the four regions reported dips. Total existing-home sales completed transactions that include single-family homes, townhomes, condominiums and co-ops, slid 2.4% from March to a seasonally adjusted annual rate of 5.61 million in April. Year-over-year, sales dropped 5.9% (5.96 million in April 2021). "Higher home prices and sharply higher mortgage rates have reduced buyer activity," said Lawrence Yun, NAR's chief economist. "It looks like more declines are imminent in the upcoming months, and we'll likely return to the pre-pandemic home sales activity after the remarkable surge over the past two years." Total housing inventory at the end of April amounted to 1,030,000 units, up 10.8% from March and down 10.4% from one year ago (1.15 million). Unsold inventory sits at a 2.2-month supply at the current sales pace, up from 1.9 months in March and down from 2.3 months in April 2021. "Housing supply has started to improve, albeit at an extremely sluggish pace," said Yun. He also noted the rare state of the current marketplace. "The market is quite unusual as sales are coming down, but listed homes are still selling swiftly, and home prices are much higher than a year ago," said Yun. "Moreover, an increasing number of buyers with short tenure expectations could opt for 5-year adjustable-rate mortgages, thereby assuring fixed payments over five years because of the rate reset," he added. "The cash buyers, not impacted by mortgage rate changes, remain elevated." The median existing-home price for all housing types in April was $391,200, up 14.8% from April 2021 ($340,700), as prices increased in each region. This marks 122 consecutive months of year-over-year increases, the longest-running streak on record. Properties typically remained on the market for 17 days in April, equal to both the number of days in March 2022 and in April 2021. Eighty-eight percent of homes sold in April 2022 were on the market for less than a month. First-time buyers were responsible for 28% of sales in April, down from 30% in March and from 31% in April 2021. NAR's 2021 Profile of Home Buyers and Sellers – released in late 2021 – reported that the annual share of first-time buyers was 34%. All-cash sales accounted for 26% of transactions in April, down from 28% in March and up from the 25% recorded in April 2021. Individual investors or second-home buyers, who make up many cash sales, purchased 17% of homes in April, down from 18% in March and equal to 17% in April 2021. Distressed sales – foreclosures and short sales – represented less than 1% of sales in April, equal to the percentage seen in March and down from 2% in April 2021. According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage was 4.98% in April, up from 4.17% in March. The average commitment rate across all of 2021 was 2.96%. Realtor.com®'s Market Trends Report in April shows that the largest year-over-year median list price growth occurred in Miami (+38.3%), Las Vegas (+32.6%), and Orlando (+30.7%). Austin reported the highest growth in the share of homes that had their prices reduced compared to last year (+6.8 percentage points), followed by Las Vegas (+5.3 percentage points) and Sacramento (+4.7 percentage points). Single-family and Condo/Co-op Sales Single-family home sales decreased to a seasonally adjusted annual rate of 4.99 million in April, down 2.5% from 5.12 million in March and down 4.8% from one year ago. The median existing single-family home price was $397,600 in April, up 14.8% from April 2021. Existing condominium and co-op sales were recorded at a seasonally adjusted annual rate of 620,000 units in April, down 1.6% from March and down 13.9% from one year ago. The median existing condo price was $340,000 in April, an annual increase of 13.1%. "As we find ourselves in the midst of a massive housing shortage, NAR continues to work with leaders across the private and public sectors to help close this deficit," said NAR President Leslie Rouda Smith, a Realtor® from Plano, Texas, and a broker associate at Dave Perry-Miller Real Estate in Dallas. "As the nation's largest real estate association, we are urging policymakers to enact zoning reforms, homebuilder incentives, and other necessary regulations to help correct this situation." Regional Breakdown Existing-home sales in the Northeast rose 1.5% in April, reaching an annual rate of 670,000, a 10.7% drop from April 2021. The median price in the Northeast was $412,100, up 8.1% from one year ago. Existing-home sales in the Midwest grew 3.1% from the prior month to an annual rate of 1,310,000 in April, a 1.5% slide from April 2021. The median price in the Midwest was $282,000, an 8.7% increase from one year ago. Existing-home sales in the South fell 4.6% in April, posting an annual rate of 2,490,000, which represents a decrease of 5.7% from one year ago. The median price in the South was $352,100, a 22.2% climb from one year prior. For the eighth consecutive month, the South recorded the highest pace of price appreciation in comparison to the other three regions. Additionally, the South is the only region to report year-over-year double-digit price gains. Existing-home sales in the West dipped 5.8% compared to the previous month, registering an annual rate of 1,140,000 in April, down 8.1% from one year ago. The median price in the West was $523,000, up 4.3% from April 2021. The National Association of Realtors® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries.

It's a Three-Peat! Ben Caballero Sets New Guinness World Record for Home Sales
Real estate agent breaks his own "Most annual home sales" title by selling 6,438 homes Dallas, TX -- May 4, 2022 -- Ben Caballero, a two-time Guinness World Record title holder and the No. 1-ranked real estate agent in the U.S. since 2013 by RealTrends, has been recognized for the third time by Guinness World Records, the "ultimate authority on record-breaking achievement." Caballero, a new home sales expert and owner of HomesUSA.com, works directly with 60-plus builders in Houston, Dallas-Ft. Worth, Austin, and San Antonio. He individually sold 6,438 homes worth more than $2.46 billion in 2020. He now officially holds the Guinness Worlds Record title for "Most annual home sales transactions through MLS by an individual sell side real estate agent – current" for the third time. In 2018, Caballero became a first-time Guinness World Record title holder for "most annual home sales transactions…" with 3,556 verified home sales in 2016. In 2019, he became a two-time Guinness World Record title holder, breaking his own record with 5,801 verified home sales in 2018. "One Guinness World Record title is the honor of a lifetime. But three? It's simply stunning," said Caballero. "Developing leading-edge real estate technology rewards me for doing something I love every day. This award certainly is the icing on the cake," he added. Caballero is real estate's most productive real estate agent, having sold more homes than any individual or team every year since 2016, according to research from RealTrends. Between 2004 and 2020, Caballero has 43,265 home sales totaling $15.188 billion in volume. In 2015, Ben became the first real estate agent to exceed $1 billion in total home sales. Additionally, he is the only agent to exceed $2 billion in total home sales in a single year, a feat achieved in 2018, 2019, and 2020. Caballero's new record translates into selling an average of more than 120 homes a week, or 17 home sales a day, every single day of the year. A highly acclaimed innovator and technological pioneer, he developed HomesUSA.com's proprietary SaaS listings management and marketing platform for his production builder clients. Caballero attributes his individual record-setting production to the efficiencies of the technology platform he created. Caballero was a builder for 18 years and became a real estate agent at 21. He developed his online platform in 2007. Builders interested in learning about Caballero's services can contact HomesUSA.com directly at (800) 856-2132 x300 or email [email protected]. Guinness World Record Title (from the GWR website) "The most annual home sale transactions through MLS by an individual sell side real estate agent – current is 6,438, and was achieved by Ben Caballero (USA) in Dallas, Texas, USA, from 1 January-31 December 2020. Ben broke this record over the course of the entire 2020 calendar year."(A "sell side real estate agent" is the listing agent.) About Guinness World Records GUINNESS WORLD RECORDS (GWR) is the global authority on record-breaking achievement. First published in 1955, the iconic annual Guinness World Records books have sold over 141 million copies in over 40 languages and in more than 100 countries. Additionally, the Guinness World Records: Gamer's Edition, first published in 2007, has sold more than 4 million copies to date. Guinness World Records' worldwide television programmes reach over 750 million viewers annually and more than 3.7 million people subscribe to the GWR YouTube channel, which enjoys more than 328 million views per year. The GWR website receives over 20.5 million visitors annually, and we have over 15 million fans on Facebook. About Ben Caballero and HomesUSA.com® Ben Caballero, founder and CEO of HomesUSA.com, is the world record holder for "Most annual home sale transactions through MLS by an individual sell-side real estate agent." Ranked by REAL Trends as America's top real estate agent for home sales since 2013, Ben is the most productive real estate agent in U.S. history. He is the only agent to exceed $1 billion in residential sales transactions in a single year, a feat first achieved in 2015 and repeated each year through 2018 when he achieved more than $2 billion. An award-winning innovator and technology pioneer, Ben works with more than 60 home builders in Dallas-Fort Worth, Houston, Austin, and San Antonio. His podcast series is available on iTunes and Google Podcasts. An infographic illustrating Ben's sales production is here. Learn more at HomesUSA.com |Twitter: @bcaballero - @HomesUSA | Facebook: /HomesUSAdotcom.

U.S. Foreclosure Activity Sets Post Pandemic Highs in First Quarter of 2022
Foreclosure Starts, Bank Repossessions at Highest Numbers in Two Years, But Still Well Below Normal Levels IRVINE, Calif. - April 21, 2022 -- ATTOM, licensor of the nation's most comprehensive foreclosure data and parent company to RealtyTrac, the largest online marketplace for foreclosure and distressed properties, today released its Q1 2022 U.S. Foreclosure Market Report, which shows a total of 78,271 U.S. properties with a foreclosure filing during the first quarter of 2022, up 39 percent from the previous quarter and up 132 percent from a year ago. The report also shows a total of 33,333 U.S. properties with foreclosure filings in March 2022, up 29 percent from the previous month and up 181 percent from a year ago — the 11th consecutive month with a year-over-year increase in U.S. foreclosure activity. "Foreclosure activity has continued to gradually return to normal levels since the expiration of the government's moratorium, and the CFPB's enhanced mortgage servicing guidelines," said Rick Sharga, executive vice president of market intelligence for ATTOM. "But even with the large year-over-year increase in foreclosure starts and bank repossessions, foreclosure activity is still only running at about 57% of where it was in Q1 2020, the last quarter before the government enacted consumer protection programs due to the pandemic." Foreclosure starts increase in all 50 states A total of 50,759 U.S. properties started the foreclosure process in Q1 2022, up 67 percent from the previous quarter and up 188 percent from a year ago. States that had the greatest number of foreclosures starts in Q1 2022 included, California (5,378 foreclosure starts), Florida (4.707 foreclosure starts), Texas (4,649 foreclosure starts), Illinois (3,534 foreclosure starts), and Ohio (3,136 foreclosure starts). Those major metros that had the greatest number of foreclosures starts in Q1 2022 included, Chicago, Illinois (3,101 foreclosure starts), New York, New York (2,580 foreclosure starts), Los Angeles, California (1,554 foreclosure starts), Houston, Texas (1,431 foreclosure starts), and Philadelphia, Pennsylvania (1,375 foreclosure starts). Highest foreclosure rates in Illinois, New Jersey and Ohio Nationwide one in every 1,795 housing units had a foreclosure filing in Q1 2022. States with the highest foreclosure rates were Illinois (one in every 791 housing units with a foreclosure filing); New Jersey (one in every 792 housing units); Ohio (one in every 991 housing units); South Carolina (one in every 1,081 housing units); and Nevada (one in every 1,090 housing units). Among 223 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in Q1 2022 were Cleveland, Ohio (one in every 535 housing units); Atlantic City, New Jersey (one in 600); Jacksonville, North Carolina (one in 633); Rockford, Illinois (one in 634); and Columbia, South Carolina (one in 672). Other major metros with a population of at least 1 million and foreclosure rates in the top 20 highest nationwide, included Cleveland, Ohio at No.1, Chicago, Illinois at No. 6, Detroit, Michigan at No. 10, Las Vegas, Nevada at No. 13, and Jacksonville, Florida at No. 16. Bank repossessions increase 41 percent from last quarter Lenders repossessed 11,824 U.S. properties through foreclosure (REO) in Q1 2022, up 41 percent from the previous quarter and up 160 percent from a year ago. Those states that had the greatest number of REOs in Q1 2022 were Michigan (1,592 REOs); Illinois (1,288 REOs); Florida (673 REOs); California (655 REOs); and Pennsylvania (639 REOs). Average time to foreclose decreases 3 percent from previous quarter Properties foreclosed in Q1 2022 had been in the foreclosure process an average of 917 days, down slightly from 941 days in the previous quarter and down 1 percent from 930 days in Q1 2021. States with the longest average foreclosure timelines for homes foreclosed in Q1 2022 were Hawaii (2,578 days); Louisiana (1,976 days); Kentucky (1,891 days); Nevada (1,808 days); and Connecticut (1,632 days). States with the shortest average foreclosure timelines for homes foreclosed in Q1 2022 were Montana (133 days); Mississippi (146 days); West Virginia (197 days); Wyoming (226 days); and Minnesota (228 days). March 2022 Foreclosure Activity High-Level Takeaways "March foreclosure activity was at its highest level in exactly two years – since March 2020, when there were almost 47,000 foreclosure filings across the country," Sharga added. "It's likely that we'll continue to see significant month-over-month and year-over-year growth through the second quarter of 2022, but still won't reach historically normal levels of foreclosures until the end of the year at the earliest, unless the U.S. economy takes a significant turn for the worse." Nationwide in March 2022, one in every 4,215 properties had a foreclosure filing. States with the highest foreclosure rates in March 2022 were Illinois (one in every 1,825 housing units with a foreclosure filing); New Jersey (one in every 2,022 housing units); South Carolina (one in every 2,299 housing units); Delaware (one in every 2,579 housing units); and Ohio (one in every 2,604 housing units). 22,360 U.S. properties started the foreclosure process in March 2022, up 35 percent from the previous month and up 248 percent from March 2021. Lenders completed the foreclosure process on 4,406 U.S. properties in March 2022, up 67 percent from the previous month and up 180 percent from March 2021. U.S. Foreclosure Market Data by State – Q1 2022 Report Methodology The ATTOM U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the ATTOM Data Warehouse during the month and quarter. Some foreclosure filings entered into the database during the quarter may have been recorded in the previous quarter. Data is collected from more than 3,000 counties nationwide, and those counties account for more than 99 percent of the U.S. population. ATTOM's report incorporates documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). For the annual, midyear and quarterly reports, if more than one type of foreclosure document is received for a property during the timeframe, only the most recent filing is counted in the report. The annual, midyear, quarterly and monthly reports all check if the same type of document was filed against a property previously. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state where the property is located, the report does not count the property in the current year, quarter, or month. About ATTOM ATTOM provides foreclosure data licenses that can power various enterprise industries including real estate, insurance, marketing, government, mortgage and more. ATTOM multi-sources from 3,000 counties property tax, deed, mortgage, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. About RealtyTrac (Powered by ATTOM's Property Data) RealtyTrac.com is the largest online marketplace for foreclosure and distressed properties, helping individual investors and real estate agents looking to gain a competitive edge in the distressed market. Realtytrac.com enables real estate professionals the ability to find, analyze and invest in residential properties.

Home Prices Hit $405,000 for the First Time Ever
Inventory is predicted to hit positive territory year-over-year in June or July and provide some much needed relief for buyers who can afford to persist in their search for a home SANTA CLARA, Calif., March 31, 2022 -- Home prices hit $405,000 for the first time ever in March, but data reveals there is some hope on the horizon for pandemic-era buyers. With demand beginning to moderate as some home shoppers are priced out of the market and new construction at near 16-year highs, inventory is expected to hit positive territory year-over-year this summer, according to the Realtor.com® Monthly Housing Trends Report released today. "Despite the $405,000 price tag, March data reveals we are starting to take some steps towards a more balanced market," said Danielle Hale, Chief Economist for Realtor.com®. "Buyer demand is moderating in the face of high costs, and we're beginning to see more homeowners take price cuts on their listings and overall inventory declines lessen in response. Assuming all these factors and new construction hold steady, we could begin to see inventory increases this summer – welcome news for buyers who have endured pandemic home shopping and can continue their journey despite higher buying costs. For buyers currently in the market, there's good reason to aim to find a home before interest rates increase further. But if it takes longer than a few months, don't give up hope, as there may be more to choose from in the summer months." March 2022 Housing Metrics – National Home prices hit $405,000 with an increase in price reductions The median U.S. listing price grew to a new all-time high of $405,000 in March as prices rose 13.5% year-over-year, faster than is typical for this time of year, and about the same annual growth rate as last month. At the same time, data shows the beginnings of softening demand and sellers responding to it. The share of homes having their price reduced increased slightly from 5.8% last March to 6.0% this year, but still remains 9 percentage points below typical 2017 to 2019 levels. Twenty-five of the largest 50 metros saw an increasing share of price reductions in March, compared to 18 in February. Listing prices in the top 50 metros grew by an average of 9.1% in March over last year. Their price growth has been lower than other areas across the country, but much of this can still be attributed to new inventory bringing relatively smaller homes to the market this year. The median listing price per square foot in these large metros grew by 12.5% over the same period, not as high as, but close to, the national rate of 15.7%. Miami (+37.0%), Las Vegas (+35.2%), and Tampa, Fla. (+32.0%) posted the highest year-over-year median list price growth in March. Austin, Texas homes showed the greatest growth in the share of homes with price reductions compared to last year (+2.9 percentage points), followed by Sacramento, Calif. and Memphis, Tenn. (+2.3 percentage points). Inventory declines lessen as some buyers are priced out Nationally, the inventory of homes actively for sale on a typical day in March decreased by 18.9% over last year, a smaller rate of decline compared to the 24.5% drop in February. However, this moderation in active inventory is not a supply-driven improvement. In March, newly-listed homes decreased by 3.4% year-over-year and sellers were still listing at rates 12.2% lower than typical 2017-2019 March levels. The number of pending listings (listings that are at various stages of the closing process, but are not yet sold) has declined by 7.4% compared to last March, indicating that a moderation in demand is softening the rate of home sales. This is likely caused by the affordability one-two-punch of rising interest rates and all-time high listing prices. For buyers still actively searching for a home, this could provide some relief as competition declines. However, it indicates that some homebuyers may have put plans on hold, despite the fact that the current rental market offers little relief from high prices. The inventory of homes actively for sale in the 50 largest U.S. metros overall decreased by 16.0% year-over-year in March, an improvement in the rate of decline compared to last month's 22.1% decrease. Inventory declined over March 2021 in 44 out of 50 of the largest metros, but six metros saw inventory growth, up from four last month: Riverside, Calif. (+17.8%), Sacramento (+7.6%), Kansas City (+6.0%), Austin (+3.9%), Detroit (+3.5%), and Phoenix (+0.4%). Eight metros also saw the number of newly-listed homes increase compared to last year, led by Rochester, N.Y. (+7.2%), Detroit (+6.7%), and Memphis (+5.4%). Homes Consistently Spend Less Time on the Market Than Previous Years The typical home spent 38 days on the market this March, which is 11 days less than last year. Homes spent 29 fewer days on the market than typical March 2017-2019 timing. However, while homes are selling more quickly than last year, the gap has been shrinking as demand moderates. Last month, homes spent 17 days less on the market than the previous year. In March, the gap narrowed down to 11 days. In the 50 largest U.S. metros, the typical home spent 31 days on the market, and homes spent 8 fewer days on the market, on average, compared to March 2021. Among larger metropolitan areas, homes saw the greatest yearly decline in time spent on market in the southern metros of Miami (-32 days), Raleigh, S.C. (-19 days), and Orlando, Fla. (-19 days). Only Buffalo, N.Y. saw time on market increase compared to last year (+2 days). March 2022 Housing Metrics – 50 Largest U.S. Metros Methodology Realtor.com® housing data as of March 2022. Listings include active inventory of existing single-family homes and condos/townhomes for the given level of geography; new construction is excluded unless listed via an MLS. *Oklahoma City's March new listings data is currently under review. Note: With the release of its January 2022 housing trends report, Realtor.com® incorporated a new and improved methodology for capturing and reporting housing inventory trends and metrics. As a result of these changes, this release is not directly comparable with previous data releases and reports. However, future data releases, including historical data, will consistently apply the new methodology. About Realtor.com® Realtor.com® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago, and today through its website and mobile apps offers a marketplace where people can learn about their options, trust in the transparency of information provided to them, and get services and resources that are personalized to their needs. Using proprietary data science and machine learning technology, Realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, Realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com.

Realtor.com February Housing Report: Home Prices Hit All-Time High Ahead of Spring Buying Season
In February, listing prices grew at a double-digit annual pace nationwide (+12.9%) and in nearly half of the 50 largest U.S. markets, led by the southern (+12.5%) and western (+12.1%) regions SANTA CLARA, Calif., March 3, 2022 -- New data suggests Spring homebuying fever has already set in, as the U.S. median listing price hit a new all-time high of $392,000 in February, according to the Realtor.com® Monthly Housing Trends Report released today. Additionally, home prices grew at an unusually-fast February pace in many of the 50 largest metros, led by Las Vegas, Miami and Tampa, Fla. with annual increases of at least 31% each. "Over the last five years, we have seen home prices break records early in the season as buyers try to get ahead of the competition. But this is the first time the record has been broken in February, signaling that competition is already heating up weeks before the start of the Spring buying season in a typical year," said Realtor.com® Chief Economist Danielle Hale. "While the number of homes on the market remains woefully behind buyer demand, in February we saw declines in new listings improve for the first time since November 2021, indicating potential hope on the horizon. Whether inventory continues to improve will depend on a variety of economic and geopolitical factors, including the conflict in Ukraine and mortgage rate hikes, which haven't impacted home sales or price growth so far, but will increasingly lessen buyers' purchasing power." February 2022 Housing Metrics – National The national listing price broke a new record in February, signaling an early start to the 2022 Spring buying season Housing affordability is increasingly an issue for 2022 buyers, partly due to climbing mortgage rates, which reached the highest level in nearly three years within the first two months of the year. With further hikes looming, February data suggests competition intensified as motivated buyers raced to lock in relatively affordable monthly payments. As a result, the national listing price exceeded the record set during the 2021 summer frenzy. While it's not uncommon for home price growth to begin accelerating in February, Realtor.com® data history shows listing prices didn't surpass previous peaks until at least March in every year from 2017-2021. In February, the U.S. median listing price increased 12.9% year-over-year to a new all-time high of $392,000, surpassing the 2021 peak (at $385,000 in July). Home prices posted smaller yearly gains in the 50 largest U.S. markets, up by an average of 7.8% year-over-year, mostly due to a larger number of smaller homes coming on the market. On average, big metro listing prices per square foot (+11.6% year-over-year) increased nearly as quickly as the overall national pace. February's biggest listing price gains were in southern (+12.5%) and western (+12.1%) metros, led by Las Vegas (+39.6%), Miami (+31.6%) and Tampa, Fla. (+31.5%). Home prices declined over last year in 13 markets, including Rochester, N.Y. (-18.2%), Detroit (-16.5%) and Pittsburgh (-14.0%). However, on a square foot basis, February listing prices were down in just five metros. Inventory improvements offer buyers a potential light in the supply shortage storm For the first time since last fall, yearly inventory declines improved slightly in February, largely due to rising numbers of new sellers. In fact, during the final two weeks of the month, more new sellers entered the market than during the same time last year. Further new listings growth, which is typical heading into the spring, will be key to inventory's forecasted recovery from 2021 lows. However, with 5.8 million new homes missing from the market and millions of millennials at first-time buying ages, housing supply faces a long road to catching up with demand. Additionally, recent bigger picture developments, like geopolitical tensions in Europe, could play a wildcard in consumer sentiment related to major financial decisions, including homebuying and selling. The U.S. inventory of active listings declined 24.5% year-over-year in February, improving slightly over last month's annual gap (-28.4%). However, there were still 122,000 fewer available listings than during a typical day in February 2021 and inventory was down 62.6% from February 2020. Relative to all active inventory, annual declines in new listings improved more significantly in February, down just 0.5% nationwide versus the 9.1% drop registered last month. Additionally, new listings grew on a year-over-year basis in the final two weeks of the month. Inventory remained below February 2021 levels in 46 of the 50 largest U.S. markets, but grew in Riverside, Calif. (+6.3%), Phoenix (+4.2%), Austin, Texas (+1.5%) and Sacramento, Calif. (+0.3%), marking the first month that supply increased in any large metro since October 2021. In another early Spring sign of rising for-sale home options, more new sellers entered the market than last year in nearly half (23) of the 50 largest markets. Furthermore, seven of these metros posted double-digit annual new listings gains: Milwaukee (+21.9%), New York (+19.5%), Oklahoma City (+16.3%), Kansas City (+15.6%), Philadelphia (+15.5%), Portland, Ore. (+12.5%) and Birmingham (+11.6%). Homes continue to fly off the market, selling a month faster than in 2017-2019 Following a record-setting first month of the year, February time on market trends showed no signs of slowing down. Likely motivated in large part by climbing mortgage rates, buyers snatched up the inventory of new and active listings more quickly than in any prior February, and over a month faster than in 2017-2019, before the onset of COVID. Relative to national time on market, home sales notched an even faster-moving February across the 50 largest U.S. metros, only three of which posted time on market gains. In February, the typical U.S. home spent 47 days on market, over two weeks faster (-17 days) than in 2021 and over a month (-38 days) faster than typical February timing from 2017-2019. Homes moved even more quickly in the 50 largest U.S. metros, at an average of 39 days on market in February. Homes sold in the least amount of time, at 16 days or less each, in Denver, San Jose, Calif. and Nashville, Tenn. Among large metros, February's biggest declines in time on market were registered in Miami (-34 days), Orlando, Fla. (-29 days) and Indianapolis (-21 days). Time on market increased in just three metros, which were Buffalo, N.Y. (+10 days), Oklahoma City (+6 days) and Cincinnati (+4 days). "It can be easy to get swept up in competition, so buyers should take the time to assess how higher mortgage rates could impact the affordability of monthly payments and consider adding a cushion at the top of their budgets. Tools like the Realtor.com® Mortgage Calculator can help you scenario plan for various rates so you're better prepared – not only for a successful buying experience, but also to comfortably afford your monthly housing costs once you have the keys in-hand," said George Ratiu, Manager of Economic Research and Senior Economist at Realtor.com®. Ratiu's advice is also relevant to the many sellers simultaneously buying a home, who can use tools like the Realtor.com® Seller's Marketplace to help them manage the many fast-moving parts of both processes and explore selling options like initial cash offers from Opendoor. January 2022 Housing Metrics – 50 Largest U.S. Metros Methodology Realtor.com® housing data as of February 2022. Listings include active inventory of existing single-family homes and condos/townhomes for the given level of geography; new construction is excluded unless listed via an MLS. Note: With the release of its January 2022 housing trends report, Realtor.com® incorporated a new and improved methodology for capturing and reporting housing inventory trends and metrics (see more details here). As a result of these changes, this release is not directly comparable with previous data releases and reports. However, future data releases, including historical data, will consistently apply the new methodology. About Realtor.com® Realtor.com® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago, and today through its website and mobile apps offers a marketplace where people can learn about their options, trust in the transparency of information provided to them, and get services and resources that are personalized to their needs. Using proprietary data science and machine learning technology, Realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, Realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.

Vacant Zombie Properties Inch Down Again in First Quarter of 2022 Even as Foreclosure Activity Rises
Zombie Foreclosures Comprise Only One of Every 13,400 Residential Properties in U.S.; Number of Zombie Properties Dips Another 1 Percent in First Quarter of 2022; But Foreclosure Activity Increases for Second Straight Quarter IRVINE, CA - Feb. 24, 2022 -- ATTOM, a leading curator of real estate data nationwide for land and property data, today released its first-quarter 2022 Vacant Property and Zombie Foreclosure Report showing that 1.4 million (1,354,579) residential properties in the United States sit vacant. That represents 1.4 percent, or one in 73 homes, across the nation. The report analyzes publicly recorded real estate data collected by ATTOM — including foreclosure status, equity and owner-occupancy status — matched against monthly updated vacancy data. (See full methodology enclosed below). Vacancy data is available for U.S. residential properties here. The report also reveals that 229,864 residential properties in the U.S. are in the process of foreclosure in the first quarter of this year, up 3 percent from the fourth quarter of 2021 and up 31 percent from the first quarter of 2021. The increase marked the second straight quarter that the count of pre-foreclosure properties has gone up since a nationwide moratorium on most lender takeovers of delinquent mortgages was lifted at the end of July. Among those pre-foreclosure properties, 7,363 sit vacant in the first quarter of 2022, down quarterly by 0.9 percent but up annually by 10.3 percent. The portion of pre-foreclosure properties that have been abandoned into zombie status dropped slightly from 3.3 percent in the fourth quarter of 2021 to 3.2 percent in the first quarter of this year. Despite the year-over-year increase, zombie foreclosures continue to represent only a miniscule portion of the nation's total stock of 98.8 million residential properties. Just one of every 13,424 homes in the first quarter of 2022 are vacant and in foreclosure. That's slightly better than ratio of one in 13,292 during the fourth quarter of 2021 although worse than the one-in-14,825 level in the first quarter of last year. "Even with foreclosure activity rising, it doesn't seem likely that we'll see a significant increase in the number of zombie properties," said Rick Sharga, executive vice president of RealtyTrac, an ATTOM company. "Zombie status is most likely during a long, protracted foreclosure process, but with $23 trillion in homeowner equity, and demand outstripping supply, most distressed borrowers should be able to sell their home at a profit before the process drags on." The first-quarter zombie foreclosure trend remains among a host of measures showing how the decade-long surge in the U.S. housing market continues both in spite and because of the ongoing Coronavirus pandemic that damaged the U.S. economy after hitting in 2020. Home prices in much of the country have soared more than 10 percent over the past year. Seller profits commonly exceed 40 percent. And a tour of most neighborhoods would not turn up a single home in the foreclosure process sitting vacant and exposed to vandalism or decay. That has happened as a glut of home buyers has flooded the market, largely driven by historically low mortgages rates and a desire by many to flee congested virus-prone areas for the relative safety and larger spaces offered by houses or condominiums. Prices continue to soar as buyers chase a tight supply of homes for sale, including those in foreclosure. However, the number of zombie foreclosures could rise this year amid the recent increase in banks and other lenders pursuing homeowners who have fallen behind on mortgages payments during the pandemic. Pre-foreclosure numbers have jumped since the federal government lifted the moratorium, imposed in 2020, on lenders taking back properties. Employment is rising as the U.S. economy slowly recovers from the pandemic's effects, which should help tamp down foreclosures. But an estimated 1.5 to 2 million homeowners were in some kind of forbearance when the moratorium ended. "The problem of empty properties in foreclosure and the blight they can cause still remains off the table almost everywhere in the country. You'd need to search far and wide in most communities to find even one," said Todd Teta, chief product officer with ATTOM. "But the rosy picture is again in danger. That's because foreclosure activity has started to kick upward since the moratorium was lifted. While it's unlikely that a tidal wave of zombie properties is headed our way as the economy improves, the number seems likely to head up to some degree this year. It will depend on how fast the courts process cases and how many delinquent homeowners can catch up on mortgages." Zombie foreclosures down quarterly but up annually A total of 7,363 residential properties facing possible foreclosure have been vacated by their owners nationwide in the first quarter of 2022, down from 7,432 in the fourth quarter of 2021 but up from 6,677 in the first quarter of 2021. The number has decreased, quarter over quarter, in 25 states. But it is up, year over year, in 30. Among states with at least 50 zombie foreclosures during the first quarter of this year, the biggest decreases from the fourth quarter of 2021 to the first quarter of 2022 are in Michigan (zombie properties down 29 percent, from 76 to 54), New Jersey (down 18 percent, from 337 to 275), Illinois (down 11 percent, from 758 to 676), Oklahoma (down 10 percent, from 104 to 94) and North Carolina (down 8 percent, from to 146 to 134). While the numbers remain low, the biggest increases from the first quarter of 2021 to the first quarter of 2022 among states with at least 50 zombie foreclosures during the first quarter of this year are in Connecticut (zombie properties up 520 percent, from 10 to 62), Iowa (up 207 percent, from 43 to 132), Maryland (up 182 percent, from 44 to 124), Maine (up 174 percent, from 23 to 63) and Nevada (up 119 percent, from 31 to 68). Largest zombie property counts remain in Northeast and Midwest Six of the seven states with the most zombie foreclosures again are in the Northeast and Midwest. New York continues to have the highest number of zombie properties (2,074 the first quarter of 2022), followed by Ohio (942), Florida (916), Illinois (676) and Pennsylvania (356). "If we do see a jump in the number of zombie properties, it will likely happen in states like New York, Illinois, and Florida," Sharga noted. "Judicial foreclosures in these states often get delayed by court backlogs, and the foreclosure process has sometimes dragged on for over 1,000 days." Overall vacancy rates down over the past year in 38 states The vacancy rate for all residential properties in the U.S. has increased to 1.37 percent in the first quarter of 2022 (one in 73 properties). That's up from 1.33 percent in the fourth quarter of 2021 (one in 75), but remains down from 1.46 percent in the first quarter of last year (one in 68). Overall vacancy rates have decreased in 38 states from the first quarter of 2021 to the first quarter of 2022. States with the biggest annual drops are Oregon (down from 1.9 percent of all homes in the first quarter of 2021 to 1.1 percent in the first quarter of this year), Mississippi (down from 2.5 percent to 1.8 percent), Tennessee (down from 2.5 percent to 1.9 percent), Wisconsin (down from 1.4 percent to 0.8 percent) and Minnesota (down from 1.5 percent to 1 percent). Other high-level findings from the first-quarter-of-2022 data: Among 163 metropolitan statistical areas in the U.S. with at least 100,000 residential properties and at least 100 properties facing possible foreclosure in the first quarter of 2022, the highest zombie rates are in Wichita, KS (14.8 percent of properties in the foreclosure process are vacant); Springfield, MO (14.7 percent); Peoria, IL (11.6 percent); Fort Wayne, IN (10.9 percent) and Cleveland, OH (10.8 percent). Aside from Cleveland, the highest zombie-foreclosure rates in major metro areas with at least 500,000 residential properties and at least 100 homes facing foreclosure in the first quarter of 2022 are in Indianapolis, IN (9.7 percent of homes in the foreclosure process are vacant); Portland, OR (9.6 percent); Baltimore, MD (8.1 percent) and Pittsburgh, PA (6.8 percent). Among the 27.7 million investor-owned homes throughout the U.S. in the first quarter of 2022, about 935,200 are vacant, or 3.4 percent. The highest levels of vacant investor-owned homes are in Indiana (7.1 percent), Kansas (6 percent), Oklahoma (5.5 percent), Ohio (5.2 percent) and Alabama (5.2 percent). Among the roughly 3,100 foreclosed, bank-owned homes in the U.S. during the first quarter of 2022, 14.4 percent are vacant. In states with at least 50 bank-owned homes, the largest percentages are in Alabama (21.6 percent vacant), Michigan (20.8 percent), Georgia (20.2 percent), Ohio (19.9 percent) and Illinois (19.7 percent). The highest zombie-foreclosure rates among counties with at least 500 properties in the foreclosure process during the first quarter of 2022 are in Broome County (Binghamton), NY (12.9 percent of pre-foreclosure homes are empty); Cuyahoga County (Cleveland), OH (12.5 percent); Pinellas County (Clearwater), FL (9.7 percent); Onondaga County (Syracuse), NY (9 percent) and Oneida County, NY (outside Syracuse) (8.2 percent). The lowest zombie rates among counties with at least 500 properties in foreclosure in the first quarter of 2022 are in Mecklenburg County (Charlotte), NC (0.3 percent of pre-foreclosure homes are empty); Mercer County (Trenton), NJ (0.3 percent); San Diego County, CA (0.4 percent); Atlantic County (Atlantic City), NJ (0.4 percent) and Lexington County (Columbia), SC (0.6 percent). Among 419 counties with at least 50,000 residential properties, those with the largest portion of total homes in zombie foreclosure status in the first quarter of 2022 are Broome County (Binghamton), NY (one of every 614 properties); Cuyahoga County (Cleveland), OH (one in 901); Suffolk County (eastern Long Island), NY (one in 1,132); Peoria County, IL (one in 1,283) and Albany County, NY (one in 1,383). Report Methodology ATTOM analyzed county tax assessor data for about 99 million residential properties for vacancy, broken down by foreclosure status and, owner-occupancy status. Only metropolitan statistical areas with at least 100,000 residential properties and counties with at least 50,000 residential properties were included in the analysis. Vacancy data is available here. About ATTOM ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 20TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, property reports and more. Also, introducing our newest innovative solution, that offers immediate access and streamlines data management – ATTOM Cloud.

Two-Thirds of Metros Reached Double-Digit Price Appreciation in Fourth Quarter of 2021
In the fourth quarter of 2021, fewer markets -- 67% of 183 metro areas -- had a double-digit increase in the median single-family existing-home sales price (78% in the prior quarter). WASHINGTON (February 10, 2022) -- The fourth quarter of 2021, much like the third quarter, saw home prices continue to increase, although at a slower pace. Fewer markets in the last quarter experienced double-digit price gains. According to the latest quarterly report from the National Association of Realtors®, out of 183 measured markets, 67% of the metros reached double-digit price appreciation compared to 78% in the prior quarter. Nationally, the median single-family existing-home price rose at a slower rate of 14.6% year-over-year to $361,700 compared to the year-over-year pace in the previous quarter (15.9%). While the third quarter of 2021 witnessed all regions achieve double-digit price gains, the fourth quarter saw only the South experience double-digit price appreciation (17.9%), and single-digit price gains in the Northeast (6.8%), Midwest (8.6%), and the West (7.7%).1 "Homebuyers in the last quarter saw little relief as home prices continued to climb, albeit not as fast as earlier in the year," said Lawrence Yun, NAR chief economist. "The increasing prices are indicative of a seller's market, with an abundance of eager buyers and very limited supply." Metros in the Sunbelt and Mountain states topped the list of areas with the highest yearly price gains: Punta Gorda, Fla. (28.7%); Ocala, Fla. (28.2%); Austin-Round Rock, Texas (25.8%); Phoenix-Mesa-Scottsdale, Ariz. (25.7%); Sherman-Denison, Texas (25.1%); Tucson, Ariz. (24.9%); Las Vegas-Henderson-Paradise, Nev. (24.7%); Ogden-Clearfield, Utah (24.7%); Salt Lake City, Utah (24.4%); and Boise City-Nampa, Idaho (24.3%). The top 10 most expensive markets in the fourth quarter witnessed prices surge, with nine of them doing so by double-digit percentages. California led the way with five metros in the top 10, along with five other areas, including: San Jose-Sunnyvale-Sta. Clara, Calif. ($1,675,000; 19.6%); San Francisco-Oakland-Hayward, Calif. ($1,310,000; 14.9%); Anaheim-Santa Ana-Irvine, Calif. ($1,150,000; 23%); Urban Honolulu, Hawaii ($1,054,500; 16.8%); San Diego-Carlsbad, Calif. ($845,000; 14.2%); Los Angeles-Long Beach-Glendale, Calif. ($797,900; 15.9%); Boulder, Colo. ($775,100; 17.2%); Seattle-Tacoma-Bellevue, Wash. ($700,000; 13.9%); Naples-Immokalee-Marco Island, Fla. ($685,000; 21.2%); and Nassau County-Suffolk County, N.Y. (644,600; 9%). "The strength of price gains are associated with the strength of the local job market, but the escalating prices took a toll on home shoppers, compelling many to come up with extra cash, and forcing others to delay making a purchase altogether," said Yun. "A number of families, especially would-be first-time buyers, are increasingly being forced out of the market, and this is why supply is critical to expanding homeownership opportunity." While mounting housing costs were problematic for the entire year, affordability worsened in the fourth quarter compared to one year ago. Making the marketplace even more of a challenge was the certainty of increasing mortgage rates. In the fourth quarter, the average monthly mortgage payment on an existing single-family home –valued at $361,700 and financed with a 20% down payment, 30-year loan at a mortgage rate of 3.13% – rose to $1,240. This was an increase of $201 from one year ago (median price of $315,700; mortgage rate of 2.81%). Families typically spent 16.9% of their income on mortgage payments, while one year ago families spent 14.7%. During this same period, a home purchase was unaffordable for a typical first-time buyer who was intending to purchase a home. The typical mortgage payment on a 10% down payment loan on a typical starter home valued at $307,400 increased to $1,224, a rise of $198 from one year ago (starter home price of $268,300; mortgage rate of 2.81%). First-time buyers generally spent 25.6% of their household income on mortgage payments, making a home purchase unaffordable. A mortgage is considered affordable if its payment (principal and interest) amounts to 25% or less of a family's income.2 "The good news is that home prices should begin to normalize later in 2022 as more homes come on the market," said Yun. In 20 markets where the median home sales price ranged from $537,400 to $1.675 million, a family needed more than $100,000 to afford a 10% down payment mortgage (17 markets in the previous quarter). These metros were found in California (San Jose-Sunnyvale-Santa Clara, San Francisco-Oakland-Hayward, Anaheim-Santa Ana-Irvine, San Diego-Carlsbad, Los Angeles-Long Beach-Glendale), Hawaii (Urban Honolulu), Colorado (Boulder, Denver-Aurora-Lakewood, Fort Collins), Washington and Oregon (Seattle-Tacoma-Bellevue, Portland-Vancouver-Hillsboro), Florida (Naples-Immokalee-Marco Island), Massachusetts and New Hampshire (Barnstable Town, Boston-Cambridge-Newton), New York, New Jersey, and Pennsylvania (Nassau County-Suffolk County, New York-Newark-Jersey City, New York-Jersey City-White Plains), Connecticut (Bridgeport-Stamford-Norwalk), Nevada (Reno), and the Washington, D.C.-Arlington-Alexandria metro area.3 Conversely, in 81 other markets – where the median sales price was at least $267,700 or less – a family needed less than $50,000 to afford a home (83 markets in the prior quarter). In 12 metro areas where the median home sales price was less than $160,000, a family generally needed less than $30,000 to purchase a home. Those areas were in Illinois and Iowa (Decatur, Peoria, Davenport-Moline-Rock Island, Waterloo-Cedar Falls, Springfield, Rockford), Ohio and Pennsylvania (Youngstown-Warren-Boardman, Toledo, Erie), New York (Binghamton, Elmira), and Maryland and West Virginia (Cumberland). The National Association of Realtors® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries.

Annual Existing-Home Sales Hit Highest Mark Since 2006
In 2021, existing-home sales totaled 6.12 million – an increase of 8.5% from the prior year and the highest annual level since 2006. WASHINGTON (January 20, 2022) -- Existing-home sales declined in December, snapping a streak of three straight months of gains, according to the National Association of Realtors. Each of the four major U.S. regions witnessed sales fall in December from both a month-over-month and a year-over-year basis. Despite the drop, overall sales for 2021 increased 8.5%. Total existing-home sales completed transactions that include single-family homes, townhomes, condominiums and co-ops, dropped 4.6% from November to a seasonally adjusted annual rate of 6.18 million in December. From a year-over-year perspective, sales waned 7.1% (6.65 million in December 2020). "December saw sales retreat, but the pull back was more a sign of supply constraints than an indication of a weakened demand for housing," said Lawrence Yun, NAR's chief economist. "Sales for the entire year finished strong, reaching the highest annual level since 2006." Yun, however, does expect existing-home sales to slow slightly in the coming months due to higher mortgage rates, but noted that recent employment gains and stricter underwriting standards ensure home sales are in no danger of crashing. He forecasts rates to remain below 4% by year-end and wages to hold firm due to a tight labor market. "This year, consumers should prepare to endure some increases in mortgage rates," Yun cautioned. "I also expect home prices to grow more moderately by 3% to 5% in 2022, and then similarly in 2023 as more supply reaches the market." Total housing inventory at the end of December amounted to 910,000 units, down 18.0% from November and down 14.2% from one year ago (1.06 million). Unsold inventory sits at a 1.8-month supply at the present sales pace, down from 2.1 months in November and from 1.9 months in December 2020. "We saw inventory numbers hit an all-time low in December," Yun said. "Home builders have already made strides in 2022 to increase supply, but reversing gaps like the ones we've seen recently will take years to correct." The median existing-home price for all housing types in December was $358,000, up 15.8% from December 2020 ($309,200), as prices rose in each region. The South witnessed the highest pace of appreciation. This marks 118 straight months of year-over-year increases, the longest-running streak on record. Properties typically remained on the market for 19 days in December, one day more than the 18 days seen in November, and down from 21 days in December 2020. Seventy-nine percent of homes sold in December 2021 were on the market for less than a month. First-time buyers were responsible for 30% of sales in December, up from 26% in November and down from 31% in December 2020. NAR's 2021 Profile of Home Buyers and Sellers – released in late 2021 – reported that the annual share of first-time buyers was 34%. "There was a significant surge in first-time buyers at the end of the year," Yun said. "With mortgage rates expected to rise in 2022, it's likely that a portion of December buyers were intent on avoiding the inevitable rate increases." Individual investors or second-home buyers, who make up many cash sales, purchased 17% of homes in December, up from 15% in November and up from 14% in December 2020. All-cash sales accounted for 23% of transactions in December, down from 24% in November, and up from 19% from December 2020. Distressed sales – foreclosures and short sales – represented less than 1% of sales in December, equal to the percentage seen in both November 2021 and December 2020. Realtor.com®'s Market Trends Report in December shows that the greatest year-over-year median list price growth occurred in Las Vegas (+32.4%), Austin (+28.8%), and Tampa (+25.4%). Austin also registered the highest growth in the number of homes which had their prices reduced compared to last year (+3.4 percentage points), followed by Pittsburgh (+3.2 percentage points) and Buffalo (+2.1 percentage points). According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage was 3.10 in December, up from 3.07 in November. The average commitment rate across all of 2021 was 2.96%. Single-family and Condo/Co-op Sales Single-family home sales dropped to a seasonally adjusted annual rate of 5.52 million in December, down 4.3% from 5.77 million in November and down 6.8% from one year ago. The median existing single-family home price was $364,300 in December, up 16.1% from December 2020. Existing condominium and co-op sales were recorded at a seasonally adjusted annual rate of 660,000 units in December, down 7.0% from 710,000 in November and down 9.6% from one year ago. The median existing condo price was $305,100 in December, an annual increase of 11.9%. "We wrapped up the year witnessing home sales exceed the previous year's total and saw millions of families secure housing," said NAR President Leslie Rouda Smith, a Realtor® from Plano, Texas, and a broker associate at Dave Perry-Miller Real Estate in Dallas. "I think the positive momentum will continue as the market prepares to finally see more supply in the coming months, meaning more buyers will be able to land their dream home." Regional Breakdown Existing-home sales in the Northeast fell 1.3% in December, registering an annual rate of 750,000, a 15.7% decrease from December 2020. The median price in the Northeast was $384,600, up 6.3% from one year ago. Existing-home sales in the Midwest slid 1.3% to an annual rate of 1,500,000 in December, a 2.6% decline from a year ago. The median price in the Midwest was $256,900, a 10.0% climb from December 2020. Existing-home sales in the South retreated 6.3% in December, posting an annual rate of 2,700,000, a drop of 5.3% from one year ago. The median price in the South was $323,000, a 20.2% ascension from one year prior. Existing-home sales in the West decreased 6.8%, reporting an annual rate of 1,230,000 in December, down 10.2% from one year ago. The median price in the West was $507,100, up 8.4% from December 2020. The National Association of Realtors® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries.

Homeownership in U.S. Again Less Affordable in Fourth Quarter as Prices Keep Soaring
Typical Home Remains Within Means of Average Wage Earner in Fourth Quarter of 2021; But Historic Affordability Down in Three-Quarters of U.S. Markets; National Median Home Price Hits $317,500, Another New High IRVINE, Calif. - Dec. 30, 2021 -- ATTOM, curator of the nation's premier property database, today released its fourth-quarter 2021 U.S. Home Affordability Report, showing that median-priced single-family homes are less affordable in the fourth quarter compared to historical averages in 77 percent of counties across the nation with enough data to analyze. That's up from just 39 percent of counties that were historically less affordable in the fourth quarter of 2020, to the highest point in 13 years, as home prices continue rising faster than wages throughout much of the country. The report determined affordability for average wage earners by calculating the amount of income needed to meet major monthly home ownership expenses — including mortgage, property taxes and insurance — on a median-priced single-family home, assuming a 20 percent down payment and a 28 percent maximum "front-end" debt-to-income ratio. That required income was then compared to annualized average weekly wage data from the Bureau of Labor Statistics (see full methodology below). Compared to historical levels, median home prices in 440 of the 575 counties analyzed in the fourth quarter of 2021 are less affordable than past averages. The latest number is up from 428 of the same group of counties in the third quarter of 2021 and 224 in the fourth quarter of 2020 – an increase that has continued as the median national home price has shot up 17 percent over the past year to a record high of $317,500. While major ownership costs on median-priced homes do remain within the financial means of average workers across the nation in the fourth quarter of 2021, the percentage of counties where affordability is worse than historical averages has hit another high point since the third quarter of 2008. The latest pattern – home prices still manageable but getting less affordable – has resulted in major ownership costs on the typical home consuming 25.2 percent of the average national wage of $65,546 in the fourth quarter of this year. That is up from 24.4 percent in the third quarter of 2021 and 21.5 percent in the fourth quarter of last year. Still, the latest level is within the 28 percent standard lenders prefer for how much homeowners should spend on mortgage payments, home insurance and property taxes. The mixed fourth-quarter patterns follow similar trends over the past year as the U.S. housing market continues booming for the 10th straight year both because of an in spite of the Coronavirus pandemic that hit in early 2020 and damaged major sectors of the U.S. economy. House hunters largely unscathed financially by the pandemic have surged into the market amid a combination of mortgage rates hovering around 3 percent and a desire to trade congested virus-prone areas for the perceived safety of a house and yard, as well as the space for growing work-at-home lifestyles. But they have been chasing a tight supply of homes made tighter by the pandemic. The soaring demand combined with the limited supply have pushed prices ever higher and affordability downward. "The average wage earner can still afford the typical home across the United States, but the financial comfort zone continues shrinking as home prices keep soaring and mortgage rates tick upward," said Todd Teta, chief product officer with ATTOM. "Historically low rates and rising wages are still big reasons why workers can meet or come very close to standard lending benchmarks in a majority of counties we analyze. But the portion of wages required for major ownership expenses nationwide is getting closer to levels where banks become less likely to offer home loans. Amid very uncertain times, with the pandemic again threatening the economy, we will keep watching this key measure of housing market stability." Despite the continued decline in historic affordability, major home-ownership expenses on typical homes still are affordable to average local wage earners in about half of the 575 counties in the report, based on the 28-percent guideline. The largest are Cook County (Chicago), IL; Harris County (Houston), TX; Dallas County, TX; Bexar County (San Antonio), TX, and Wayne County (Detroit), MI. The most populous of the 279 counties where major expenses on median-priced homes are unaffordable for average local workers in the fourth quarter of 2021 are Los Angeles County, CA; Maricopa County (Phoenix), AZ; San Diego County, CA; Orange County, CA (outside Los Angeles) and Miami-Dade County, FL. Home prices up at least 10 percent in two-thirds of country Median single-family home prices in the fourth quarter of 2021 are up by at least 10 percent over the fourth quarter of 2020 in 368, or 64 percent, of the 575 counties included in the report. Data was analyzed for counties with a population of at least 100,000 and at least 50 single-family home and condo sales in the fourth quarter of 2021. Among the 43 counties with a population of at least 1 million, the biggest year-over-year gains in median prices during the fourth quarter of 2021 are in Middlesex County (outside Boston), MA (up 42 percent); Wake County (Raleigh), NC (up 27 percent); Maricopa County (Phoenix), AZ (up 26 percent); Hillsborough County (Tampa), FL (up 26 percent) and Clark County (Las Vegas), NV (up 23 percent). Counties with a population of at least 1 million where median prices have decreased year-over-year in the fourth quarter of 2021, or gone up by the smallest amounts, are Wayne County (Detroit), MI (down 12 percent); Cook County (Chicago), IL (down 3 percent); Kings County (Brooklyn), NY (up 2 percent); Dallas County, TX (up 5 percent) and Contra Costa County, CA (outside San Francisco) (up 6 percent.) Price gains outpace wage growth in nearly 80 percent of markets Home-price appreciation is greater than weekly wage growth in the fourth quarter of 2021 in 447 of the 575 counties analyzed in the report (78 percent), with the largest including Harris County (Houston), TX; Maricopa County (Phoenix), AZ; San Diego County, CA; Orange County, CA (outside Los Angeles) and Miami-Dade County, FL. Average annualized wage growth is outpacing home-price appreciation in the fourth quarter of 2021 in 128 of the counties included in the report (22 percent), including Los Angeles County, CA; Cook County, (Chicago), IL; Dallas County, TX; Kings County (Brooklyn), NY, and King County (Seattle), WA. Ownership costs still require less than 28 percent of average local wages in half the nation Major ownership costs on median-priced homes in the fourth quarter of 2021 consume less than 28 percent of average local wages in 296 of the 575 counties analyzed in this report (51 percent), assuming a 20 percent down payment. That was about the same as in the third quarter of 2021 for the same group of counties, but down from about two-thirds in the fourth quarter of last year. Counties where the smallest portion of average local wages is required to afford the typical home are Schuylkill County, PA (outside Allentown) (6.5 percent of annualized weekly wages needed to buy a home); Macon County (Decatur), IL (9.2 percent); Bibb County (Macon), GA (9.5 percent); Wayne County (Detroit), MI (10.6 percent) and Peoria County, IL (11.3 percent). Aside from Wayne County, the counties with a population of at least 1 million where major ownership expenses typically consume less than 28 percent of average local wages in the fourth quarter of 2021 include Philadelphia County, PA (15.4 percent); Cuyahoga County (Cleveland), OH (15.7 percent); Cook County (Chicago), IL (20.6 percent) and Franklin County (Columbus), OH (21.8 percent). A total of 279 counties in the report (49 percent) require more than 28 percent of annualized local weekly wages to afford a typical home in the fourth quarter of 2021. Counties that require the greatest percentage of wages are Kings County (Brooklyn), NY (76.5 percent of annualized weekly wages needed to buy a home); Santa Cruz County, CA (73.7 percent); Marin County, CA (outside San Francisco) (71.4 percent); Maui County, HI (67.3 percent) and San Luis Obispo County, CA (64.7 percent). Aside from Kings County, NY, the counties with a population of at least 1 million where home ownership consumes the highest percentage of average annualized local wages in the fourth quarter include Orange County, CA (outside Los Angeles) (60.1 percent); Queens County, NY (59.9 percent); Nassau County, NY (outside New York City) (56.5 percent) and Alameda County (Oakland), CA (53.4 percent). Just one in five counties require annual wage of more than $75,000 to afford typical home Annual wages of more than $75,000 are needed to afford major costs on the median-priced home purchased during the fourth quarter of 2021 in just 114, or 20 percent, of the 575 markets in the report. The top 30 highest annual wages required to afford typical homes are all on the east or west coasts, led by New York County (Manhattan), NY ($274,679); San Mateo County (outside San Francisco), CA ($252,589); San Francisco County, CA ($251,054); Santa Clara County (San Jose), CA ($229,301) and Marin County (outside San Francisco), CA ($223,713). The lowest annual wages required to afford a median-priced home in the fourth quarter of 2021 are in Schuylkill County, PA (outside Allentown) ($10,927); Bibb County (Macon), GA ($16,483); Cambria County, PA (outside Pittsburgh) ($17,784); Macon County (Decatur), IL ($19,317) and Blair County (Altoona), PA ($20,363). Homeownership less affordable than historic averages in three-quarters of counties Among the 575 counties analyzed in the report, 440 (77 percent) are less affordable in the fourth quarter of 2021 than their historic affordability averages. That is about the same as in the third quarter of 2020, when 74 percent of the same group of counties were historically less affordable, but far higher than the 39 percent level in the fourth quarter of last year. Counties with a population of at least 1 million that are less affordable than their historic averages (indexes of less than 100 are considered less affordable compared to historic averages) include Tarrant County (Fort Worth), TX (index of 75); Maricopa County (Phoenix), AZ (76); Mecklenburg County (Charlotte), NC (77); Hillsborough County (Tampa), FL (78) and Clark County (Las Vegas), NV (79). Counties with the worst affordability indexes in the fourth quarter of 2021 include Rankin County (Jackson), MS (index of 50); Canyon County, ID (outside Boise) (60); Rutherford County (Murfreesboro), TN (62); Gaston County, NC (outside Charlotte) (63) and Wayne County, OH (outside Akron) (63). Among counties with a population of at least 1 million, those where the affordability indexes worsened most from the fourth quarter of 2020 to the fourth quarter of 2021 are Middlesex County, MA (outside Boston) (index down 29 percent); Wake County (Raleigh), NC (down 21 percent); Maricopa County (Phoenix), AZ (down 21 percent); Hillsborough County (Tampa), FL (down 21 percent) and Clark County (Las Vegas), NV (down 19 percent). Only a quarter of markets are more affordable than historic averages Among the 575 counties in the report, 135 (23 percent) are more affordable than their historic affordability averages in the fourth quarter of 2021, down slightly from 26 percent of the same group in the prior quarter and 61 percent in the fourth quarter of last year. Counties with a population of at least 1 million that are more affordable than their historic averages (indexes of more than 100 are considered more affordable compared to historic averages) include New York County (Manhattan), NY (index of 129); Montgomery County, MD (outside Washington, D.C.) (119); Cook County (Chicago), IL (113); Santa Clara County (San Jose), CA (113) and Fairfax County, VA (outside Washington, D.C.) (109). Counties with the best affordability indexes in the fourth quarter of 2021 include Macon County (Decatur), IL (index of 191); Schuylkill County, PA (outside Allentown) (160); San Francisco County, CA (144); Peoria County, IL (135) and Columbiana County, OH (west of Pittsburgh, PA) (135). Counties with a population of least 1 million residents where the affordability index improved most or declined the least from the fourth quarter of last year to the same period this year are Wayne County (Detroit), MI (index up 11 percent); Cook County (Chicago), IL (up 3 percent); Santa Clara County (San Jose), CA (down 2 percent); Kings County (Brooklyn), NY (down 4 percent) and Montgomery County, MD (outside Washington, DC) (down 4 percent). Report Methodology The ATTOM U.S. Home Affordability Index analyzes median home prices derived from publicly recorded sales deed data collected by ATTOM and average wage data from the U.S. Bureau of Labor Statistics in 575 U.S. counties with a combined population of 252.6 million. The affordability index is based on the percentage of average wages needed to pay for major expenses on a median-priced home with a 30-year fixed rate mortgage and a 20 percent down payment. Those expenses include property taxes, home insurance, mortgage payments and mortgage insurance. Average 30-year fixed interest rates from the Freddie Mac Primary Mortgage Market Survey were used to calculate the monthly house payments. The report determined affordability for average wage earners by calculating the amount of income needed for major home ownership expenses on a median-priced home, assuming a loan of 80 percent of the purchase price and a 28 percent maximum "front-end" debt-to-income ratio. For example, the nationwide median home price of $317,500 in the fourth quarter of 2021 requires an annual wage of $58,970, based on a $63,500 down payment, a $254,000 loan and monthly expenses not exceeding the 28 percent barrier — meaning households would not be spending more than 28 percent of their income on mortgage payments, property taxes and insurance. That required income was less than the $65,546 average wage nationwide based on the most recent average weekly wage data available from the Bureau of Labor Statistics, making a median-priced home nationwide affordable for average workers. About ATTOM ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 20TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, property reports and more. Also, introducing our newest innovative solution, that offers immediate access and streamlines data management – ATTOM Cloud.

Mortgage Lending Declines Aat Unusually Fast Pace Across U.S. During Third Quarter of 2021
Overall Loan Activity Down 8 Percent, Marking Second Straight Quarterly Decrease; Mortgage Lending Down in Both Second and Third Quarters for First Time This Century; Refinance Mortgages Drop 13 Percent Quarterly, Purchase Loans Off 2 Percent IRVINE, Calif. - Dec. 2, 2021 -- ATTOM, curator of the nation's premier property database, today released its third-quarter 2021 U.S. Residential Property Mortgage Origination Report, which shows that 3.59 million mortgages secured by residential property (1 to 4 units) were originated in the third quarter of 2021 in the United States. That figure was up 3 percent from the third quarter of 2020, but down 8 percent from the second quarter of 2021 – the largest quarterly dip in over a year. The quarterly decline also was the second in a row and pointed to two unusual patterns developing in the lending industry. It marked the first time in more than two years that total lending decreased in two consecutive quarters. More notably, it was the first time in any year since at least 2000 that lending activity declined in both the second and third quarters, which usually are peak buying seasons. That pattern emerged amid declines in both refinance and purchase lending which more than made up for a bump up in home-equity lines of credit. Overall, with average interest rates remaining below 3 percent for 30-year home loans, lenders issued $1.15 trillion worth of mortgages in the third quarter of 2021. That was up annually by 11 percent, but down quarterly by 6 percent. The quarterly decrease in the dollar volume of loans was the first since the early part of 2020. On the refinance side, 1.99 million home loans were rolled over into new mortgages during the third quarter of 2021, a figure that was down 13 percent from the second quarter and down 3 percent from a year earlier. The total number of refinance mortgages has declined for the second straight quarter, while the quarterly decrease was the largest in three years. The dollar volume of refinance loans was down 10 percent from the second quarter of 2021, to $624.1 billion, although still up annually by 1 percent. Refinance mortgages remained a majority of all residential lending activity during the third quarter of 2021. But that portion dipped to 55 percent, down from 59 percent in both the second quarter of 2021 and the third quarter of 2020. The number of purchase loans also declined in the third quarter of 2021 as lenders issued 1.36 million mortgages to buyers. That was down 2 percent quarterly, although still up annually by 17 percent. The dollar value of loans taken out to buy property dipped to $482.6 billion, down 1 percent from the second quarter of this year but still up 30 percent from the third quarter of 2020. Home-equity lending, meanwhile, rose for the second straight quarter, which last happened in mid-2019. The tally of home-equity lines of credit, while down annually by 9 percent, rose 2 percent between the second and third quarters of 2021, to about 238,500. The continued dip in total loan activity during the third quarter represented a growing sign that the nation's appetite for new home loans is easing – and that the nation's decade-long housing market boom could even be cooling off. The latest trends have reversed patterns seen from early 2019 through early 2021, when total lending activity nearly tripled amid various forces that pushed a frenzy of refinancing and purchasing. That surge came as interest rates dropped to historic lows and the Coronavirus pandemic which hit early last year spurred a rush of home buying among households looking for larger spaces and the perceived safety offered by a house and yard. That spike in buying has driven home prices to record highs. "The overflow stack of work that was hitting lenders for several years shrank again in the third quarter across the U.S. amid a few emerging trends," said Todd Teta, chief product officer at ATTOM. "It looks more and more like homeowner's voracious appetites for refinance deals has eased notably, while purchase lending also dipped. It's still too early to say if the trends point to major shifts in lending patterns or the broader housing market boom. But the drop-off is significant, especially for home buying, which could suggest an impending housing market slowdown. We will be watching the lending trends extra closely in the coming months." Total mortgages drop for second straight quarter in a pattern not seen this century Banks and other lenders issued 3,591,794 residential mortgages in the third quarter of 2021. That was down 8.4 percent from 3,922,248 in second quarter of 2021, although still up 3.2 percent from 3,479,655 in the third quarter of 2020. The quarterly decrease was the second in a row, which had not happened since a period running from late 2018 into early 2019. It also stood out as the first time since at least 2000 that total lending activity went down from both the first to the second quarter and from the second to the third quarter of any year. The $1.15 trillion dollar volume of all loans in the third quarter remained up 10.7 percent from $1.04 trillion a year earlier, but was down 6 percent from $1.23 trillion in the second quarter of 2021. Overall lending activity decreased from the second quarter of 2021 to the third quarter of 2021 in 186, or 86 percent, of the 216 metropolitan statistical areas around the country with a population greater than 200,000 and at least 1,000 total loans in the third quarter. Total lending activity was down at least 5 percent in 126 metros (58 percent). The largest quarterly decreases were in Pittsburgh, PA (down 52.3 percent); Charleston, SC (down 48.2 percent); Myrtle Beach, SC (down 46.8 percent); Provo, UT (down 39.5 percent) and Peoria, IL (down 33.9 percent). Aside from Pittsburgh, metro areas with a population of least 1 million that had the biggest decreases in total loans from the second quarter to the third quarter of 2021 were Buffalo, NY (down 29.8 percent); Baltimore, MD (down 20.9 percent); New Orleans, LA (down 20.4 percent) and Atlanta, GA (down 17.5 percent). Metro areas with the biggest increases in the total number of mortgages from the second to the third quarter of 2021 were Ann Arbor, MI (up 122.7 percent); Des Moines, IA (up 70.5 percent); Sioux Falls, SD (up 51.5 percent); Yakima, WA (up 31.4 percent) and Dayton, OH (up 30.6 percent). The only metro areas with a population of at least 1 million and an increase in total mortgages from the second quarter to the third quarter of 2021 were Jacksonville, FL (up 5.5 percent); Memphis, TN (up 4.3 percent) and Columbus, OH (up 2.7 percent). Refinance mortgage originations down 13 percent from second quarter Lenders issued 1,993,407 residential refinance mortgages in the third quarter of 2021, down 13.4 percent from 2,301,654 in second quarter of 2021 and down 2.9 percent from 2,053,918 in the third quarter of last year. The total was down for the second straight quarter, which had not happened since late 2018 into early 2019, while the latest decrease was the largest since the first quarter of 2018. The $624.1 billion dollar volume of refinance packages in the third quarter of 2021 was down 10.1 percent from $694.3 billion in the prior quarter, while it remained up 1.4 percent from $615.6 billion in the third quarter of 2020. Refinancing activity decreased from the second quarter of 2021 to the third quarter of 2021 in 199, or 92 percent, of the 216 metropolitan statistical areas around the country with enough data to analyze. Activity dropped at least 10 percent in 121 metro areas (56 percent). The largest quarterly decreases were in Pittsburgh, PA (down 61.5 percent); Myrtle Beach, SC (down 54.7 percent); Charleston, SC (down 49.9 percent); Tuscaloosa, AL (down 48.8 percent) and Buffalo, NY (down 47.5 percent). Aside from Pittsburgh and Buffalo, metro areas with a population of least 1 million that had the biggest decreases in refinance activity from the second to the third quarter of 2021 were Rochester, NY (down 28.2 percent); Baltimore, MD (down 26.8 percent) and New York, NY (down 25.8 percent). Counter to the national trend, metro areas with the biggest increases in refinancing loans from the second quarter of 2021 to the third quarter of 2021 were Ann Arbor, MI (up 128.8 percent); Des Moines, IA (up 91.3 percent); Sioux Falls, SD (up 36.6 percent); Dayton, OH (up 13.4 percent) and Yakima, WA (up 9.9 percent). The only metro area with a population of at least 1 million where refinance mortgages increased from the second to the third quarter of 2021 was Jacksonville, FL (up 5.9 percent). Refinance lending still represents at least 50 percent of all loans in two-thirds of metros Refinance mortgages accounted for at least 50 percent of all loans in 151 (70 percent) of the 216 metro areas with sufficient data in the third quarter of 2021. But that was down from 83 percent in the second quarter of 2021 and 80 percent a year earlier. By the end of the third quarter, refinance mortgages took up a smaller portion of all loans issued in 174 (81 percent) of the metros analyzed. Metro areas with a population of at least 1 million where refinance loans represented the largest portion of all mortgages in the third quarter of 2021 were Atlanta, GA (72.2 of all mortgages); Detroit, MI (66.9 percent); Kansas City, MO (63.2 percent); New Orleans, LA (62.2 percent) and New York, NY (62.1 percent). Metro areas with a population of at least 1 million where refinance loans represented the smallest portion of all mortgages in the third quarter of 2021 were Rochester, NY (40.9 percent of all mortgages); Oklahoma City, OK (43.2 percent); Pittsburgh, PA (48.1 percent); Miami, FL (48.2 percent) and Cleveland, OH (48.6 percent). Purchase originations decrease 2 percent in third quarter Lenders originated 1,359,888 purchase mortgages in the third quarter of 2021. That was down 2 percent from 1,387,307 in the second quarter, although still up 16.8 percent from 1,163,790 in the third quarter of last year. The $482.6 billion dollar volume of purchase loans in the third quarter was down 0.7 percent from $486 billion in the prior quarter, but remained up 29.9 percent from $371.6 billion a year earlier. Residential purchase-mortgage originations decreased from the second to the third quarter of 2021 in 111 of the 216 metro areas in the report (51 percent). The largest quarterly decreases were in Jackson, MS (down 57.1 percent); Charleston, SC (down 43.8 percent); Provo, UT (down 43.6 percent); Pittsburgh, PA (down 42.2 percent) and Myrtle Beach, SC (down 38.4 percent). Aside from Pittsburgh, metro areas with a population of at least 1 million and the biggest quarterly decreases in purchase originations in the third quarter of 2021 were New Orleans, LA (down 21.4 percent); Atlanta, GA (down 18 percent); Austin, TX, (down 16.9 percent) and San Jose, CA (down 15.7 percent). Residential purchase-mortgage lending increased from the second quarter of 2021 to the third quarter of 2021 in 105 of the 216 metro areas in the report (49 percent). The largest increases were in Tuscaloosa, AL (up 553.7 percent); Ann Arbor, MI (up 120.6 percent); Yakima, WA (up 66.2 percent); Dayton, OH (up 63.3 percent) and Sioux Falls, SC (up 61.7 percent). Metro areas with a population of at least 1 million and the largest increases in purchase originations from the second to the third quarter of 2021 were Rochester, NY (up 50.4 percent); Buffalo, NY (up 37.4 percent); Philadelphia, PA (up 25.2 percent); Columbus, OH (up 24.5 percent) and Detroit, MI (up 20.1 percent). Metro areas with a population of at least 1 million where purchase loans represented the largest portion of all mortgages in the third quarter of 2021 were Oklahoma City, OK (51.9 percent of all mortgages); Miami, FL (46.7 percent); Las Vegas, NV (45 percent); Virginia Beach, VA (43.7 percent) and San Antonio, TX (41.9 percent). Metro areas with a population of at least 1 million where purchase loans represented the smallest portion of all mortgages in the third quarter of 2021 were Detroit, MI (25.8 percent of all mortgages); Salt Lake City, UT (26.9 percent); Atlanta, GA (27.4 percent); Kansas City, MO (29.2 percent) and Boston, MA (30.1 percent). HELOC lending up for second straight quarter A total of 238,499 home-equity lines of credit (HELOCs) were originated on residential properties in the third quarter of 2021, up 2.2 from 233,287 during the prior quarter, but still down 9 percent from 261,947 in the third quarter of 2020. HELOC activity rose for the second straight quarter – the first time that happened since the middle of 2019. The $46 billion third-quarter volume of HELOC loans, though, was still down 0.8 percent from the second quarter and down 15 percent from the third quarter of 2020. HELOC mortgage originations increased from the second to the third quarter of 2021 in 60 percent of metro areas analyzed for this report. The largest increases in metro areas with a population of at least 1 million were in Jacksonville, FL (up 45.6 percent); San Diego, CA (up 25.4 percent); Houston, TX (up 24.7 percent); Riverside, CA (up 23.1 percent) and Tucson, AZ (up 22.2 percent). The biggest quarterly decreases in HELOCs among metro areas with a population of at least 1 million were in Atlanta, GA (down 58.9 percent); Buffalo, NY (down 30.9 percent); Pittsburgh, PA (down 29.9 percent); Hartford, CT (down 29.3 percent) and New Orleans, LA (down 19.5 percent). FHA and VA loan shares inch down Mortgages backed by the Federal Housing Administration (FHA) accounted for 336,483, or 9.4 percent of all residential property loans originated in the third quarter of 2021. That was down slightly from 9.6 percent in the second quarter of 2020. It also was down from 10.5 percent in the third quarter of 2020. Residential loans backed by the U.S. Department of Veterans Affairs (VA) accounted for 229,456, or 6.4 percent, of all residential property loans originated in the third quarter of 2021, down from 6.9 percent in the previous quarter and 8.8 percent a year earlier. Median down payments and loan amounts rise again The national median down payment, the amount borrowed and the ratio of down payments to median home prices during the third quarter of 2021 again hit the highest levels since at least 2005. The median down payment on single-family homes purchased with financing in the third quarter of 2021 stood at $27,500, up 5.8 percent from $26,000 in the previous quarter and up 41 percent from $19,502 in the third quarter of 2020. The median down payment of $27,500 represented 8 percent of the nationwide median sales price for homes purchased with financing during the third quarter of 2021, up from 7.8 percent in the previous quarter and 6.5 percent a year earlier. Among homes purchased in the third quarter of 2021, the median loan amount was $295,954. That was up 2.8 percent from the prior quarter and up 13 percent from the same period last year. Report methodology ATTOM analyzed recorded mortgage and deed of trust data for single-family homes, condos, town homes and multi-family properties of two to four units for this report. Each recorded mortgage or deed of trust was counted as a separate loan origination. Dollar volume was calculated by multiplying the total number of loan originations by the average loan amount for those loan originations. About ATTOM ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 20TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, and more. Also, introducing our latest solution, that offers immediate access and streamlines data management – ATTOM Cloud.

Seller Profits Increase Across U.S. in Third Quarter as National Median Home Price Reaches Another Record
Typical Profit Margin on Home Sales Nationwide Increases to 48 Percent, Hitting Highest Level in Past 10 Years; Returns Rise at Fastest Pace Quarterly in Seven Years and Annually in More Than a Decade; Median U.S. Home Price Jumps 16 Percent, to $310,500 IRVINE, Calif. - Nov. 4, 2021 -- ATTOM, curator of the nation's premier property database, today released its third-quarter 2021 U.S. Home Sales Report, which shows that profit margins on median-priced single-family home and condo sales across the United States jumped to 47.6 percent – the highest level since the end of the Great Recession a decade ago. In yet another sign of how strong the U.S. housing market remains, the report reveals that the typical home sale across the country during the third quarter of 2021 generated a profit of $100,178 as the national median home price hit a record of $310,500. The latest profit level – also a new high – was up from $88,800 in the second quarter of 2021 and from $69,000 in the third quarter of 2020. Those gains raised the typical return on investment that sellers made on their original purchase price nationwide from 42 percent in the second quarter of this year and 34.5 percent a year earlier. The investment-return increases marked the biggest quarterly jump since 2014 and the biggest annual surge since at least 2008. Soaring profits in the third quarter came as the national median home price increased 3.5 percent from the second quarter of 2021 and 15.9 percent from the third quarter of 2020. The annual price surge marked the fifth straight quarter with year-over-year increases of at least 10 percent. So hot was the national market in the third quarter that median home prices rose annually in 93 percent of U.S. metropolitan areas with enough data to analyze, while profit margins increased in 86 percent. The latest price and profit improvements reflect a housing market that kept speeding ahead even as the U.S. economy only gradually recovered from widespread damage caused by the Coronavirus pandemic that hit early last year and continues to pose a threat. Amid rock-bottom interest rates and worries about living in congested virus-prone parts of the country, a glut of buyers has been chasing a tight supply of homes for sale over the past year and a half, raising demand and spiking prices. "The third quarter of this year marked another period in a banner year for a housing market boom that's steaming ahead through its 10th year. Prices and seller profits again hit new highs since the market started coming back from the Great Recession in 2012," said Todd Teta, chief product officer at ATTOM. "There have been a couple of small hints of a possible slowdown in recent months, as we head into the normally quiet Fall and Winter seasons. The pandemic also remains a constant presence that could tamp things down. But, for now, the market engine seems to have nothing but high-octane gas in the tank." Profit margins rise annually in nearly 90 percent of metro areas around the U.S. Typical profit margins – the percent change between median purchase and resale prices – rose from the third quarter of 2020 to the third quarter of 2021 in 175 (86 percent) of 204 metro areas around the United States with sufficient data to analyze. Margins also increased from the second to the third quarter of this year in 168 of the 204 metros (82 percent). Metro areas were included if they had at least 1,000 single-family home and condo sales in the third quarter of 2021 and a population of at least 200,000. The biggest annual increases in profit margins came in the metro areas of Boise City, ID (margin up from 61.4 percent in the third quarter of 2020 to 130.3 percent in the third quarter of 2021); Claremont-Lebanon, NH (up from 41.1 percent to 93.8 percent); Augusta, GA (up from 19.6 percent to 56.6 percent); Raleigh, NC (up from 30.4 percent to 67 percent) and Bellingham, WA (up from 69.5 percent to 105.6 percent). Aside from Raleigh, the biggest annual profit-margin increases in metro areas with a population of at least 1 million in the third quarter of 2021 were in Detroit, MI (margin up from 43 percent to 68 percent); Rochester, NY (up from 39.4 percent to 63.8 percent); Austin, TX (up from 47.6 percent to 70.9 percent) and Pittsburgh, PA (up from 40.1 percent to 61.9 percent). Profit margins stayed the same or dropped, year over year, in just 29 of the 204 metro areas analyzed (14 percent) while they declined quarterly in 36 (18 percent). The biggest annual decreases were in Salem, OR (margin down from 75.6 percent in the third quarter of 2020 to 48.3 percent in the third quarter of 2021); Brownsville, TX (down from 37.1 percent to 13 percent); Kansas City, MO (down from 43.6 percent to 25.1 percent); San Jose, CA (down from 86.2 percent to 71 percent) and McAllen, TX (down from 33.4 percent to 19.9 percent). Aside from Kansas City and San Jose, the largest annual drops in profit margins among metro areas with a population of at least 1 million came in Los Angeles, CA (down from 54.3 percent to 44.5 percent); Cleveland, OH (down from 32.8 percent to 25.7 percent) and Las Vegas, NV (down from 43.8 percent to 37.2 percent). Largest profit margins again in West; smallest in South The West continued to have the largest profit margins on typical home sales around the country, with eight of the top 10 returns on investment in the third quarter of 2021 from among the 204 metropolitan areas with enough data to analyze. They were led by Boise City, ID (130.3 percent return); Bellingham, WA (105.6 percent); Claremont-Lebanon, NH (93.8 percent); Spokane, WA (87.7 percent) and Prescott, AZ (84.7 percent). Eleven of the 15 smallest margins were in the South region of the country. The lowest were in Shreveport, LA (2 percent); Gulfport, MS (7.4 percent); Columbus, GA (9.9 percent); Atlantic City, NJ (12.4 percent) and Brownsville, TX (13 percent). Prices up at least 10 percent in two-thirds of nation Median home prices in the third quarter of 2021 exceeded values from a year earlier by at least 10 percent in 136 (67 percent) of the 204 metropolitan statistical areas with enough data to analyze. Nationally, the median price of $310,500 in the third quarter was up from $300,000 in the second quarter of 2021 and $268,000 in the third quarter of last year. The biggest year-over-year increases in median home prices during the third quarter of 2021 came in Worcester, MA (up 42.9 percent); Barnstable, MA (up 32.5 percent); Boston, MA (up 28.4 percent); Boise, ID (up 28.3 percent) and Lakeland, FL (up 27.8 percent). Aside from Boston, the largest annual increases in metro areas with a population of at least 1 million in the third quarter of 2021 were in Austin, TX (up 26 percent); Phoenix, AZ (up 25.5 percent); Las Vegas, NV (up 22.8 percent) and Tucson, AZ (up 22.4 percent). Home prices in the third quarter of 2021 hit or tied all-time highs in 84 percent of the metro areas in the report, including New York, NY; Los Angeles, CA; Chicago, IL; Dallas, TX, and Houston, TX. The largest year-over-year decreases in median prices during the third quarter of 2021 were in Brownsville, TX (down 11.9 percent); Pittsburgh, PA (down 10.1 percent); Gulfport, MS (down 8.8 percent); Santa Maria, CA (down 7 percent) and Charleston, SC (down 4.9 percent). Homeownership tenure remains at eight-year low Homeowners who sold in the third quarter of 2021 had owned their homes an average of 6.31 years, virtually unchanged from 6.29 years in the second quarter of 2021 and down by more than a year from 7.85 years in the third quarter of 2020. The last two quarters marked the shortest times between purchase and resale since the first quarter of 2013. Among 109 metro areas with sufficient data to analyze, tenure decreased from the third quarter 2020 to the same period this year in 101 (93 percent). They were led by Lakeland, FL (tenure down 74 percent); Tucson, AZ (down 53 percent); Madera, CA (down 44 percent); Springfield, MA (down 43 percent) and Memphis, TN (down 43 percent). Fifteen of the 20 longest average tenures among sellers in the third quarter of 2021 were in the Northeast or West regions. They were led by Manchester, NH (10.09 years); Bellingham, WA (9.91 years); Lake Havasu City, AZ (9.69 years); Kahului-Wailuku-Lahaina, HI (9.21) and Rockford, IL (8.81 years). The smallest average tenures among third-quarter sellers were in Lakeland, FL (1.97 years); Bremerton, WA (2.79 years); Portland, ME (3.39 years); Gulfport, MS (4.05 years) and Tucson, AZ (4.06 years). Cash sales at six-year high Nationwide, all-cash purchases accounted for 34 percent of all single-family house and condo sales in the third quarter of 2021, the highest level since the first quarter of 2015. The third-quarter 2021 number was up from 33.2 percent in the second quarter of 2021 and from 21.4 percent in the third quarter of last year. Among metropolitan statistical areas with a population of at least 200,000 and sufficient cash-sales data, those where cash sales represented the largest share all transactions in the third quarter of 2021 were Columbus, GA (74.6 percent of all sales); Atlanta, GA (69 percent); Macon, GA (59.3 percent); Youngstown, OH (56.6 percent) and Detroit, MI (56.2 percent). Those where cash sales represented the smallest share of all transactions in the third quarter of 2021 included Lincoln, NE (15.7 percent); Greeley, CO (17 percent); Salem, OR (17.1 percent) and Washington, DC (17.2 percent) and Worcester, MA (18.7 percent). Institutional investment up to seven-year high Institutional investors nationwide accounted for 7.3 percent of all single-family house and condo purchases in the third quarter of 2021, the highest level since the first quarter of 2014. The latest figure was up from 5 percent in the second quarter of 2021 and was up three-fold from 2.4 percent in the third quarter of last year. Among states with enough data to analyze, those with the largest percentages of sales to institutional investors in the third quarter of 2021 were Arizona (17.4 percent of all sales), Georgia (13.9 percent), Mississippi (12.8 percent), Nevada (12.7 percent) and North Carolina (11.3 percent). States with the smallest levels of sales to institutional investors in the third quarter of 2021 were Hawaii (1.7 percent of all sales), Maine (1.8 percent), Vermont (2.2 percent), New Hampshire (2.5 percent) and Rhode Island (2.5 percent). FHA-financed purchases remain at nearly 14-year low Nationwide, buyers using Federal Housing Administration (FHA) loans accounted for only 8.3 percent of all single-family home and condo purchases in the third quarter of 2021, the second-lowest level since the fourth quarter of 2007. The latest figure was up slightly from 8.1 percent in the previous quarter but down from 11.8 percent a year earlier. Among metropolitan statistical areas with a population of at least 200,000 and sufficient FHA-buyer data, those with the highest levels of FHA buyers in the third quarter of 2021 were Lakeland, FL (21 percent of all sales); Mobile, AL (18.3 percent); Visalia, CA (17.7 percent); Bakersfield, CA (17.3 percent) and Yuma, AZ (16.9 percent). Lender-owned foreclosures represent just 1 percent of all sales Home sales following foreclosures by banks and other lenders represented just 1.1 percent of all sales in the third quarter of 2021. That was down from 1.3 percent in the second quarter of 2021 and from 2.9 percent in the third quarter of last year. Metro areas where so-called REO sales represented the largest portions of all sales in the third quarter of 2021 with a population of 200K or more and with sufficient data to analyze were Macon, GA (4.6 percent of all sales); Lansing, MI (3.1 percent); St. Louis, MO (2.4 percent); South Bend, IN (2.3 percent) and Baltimore, MD (2.3 percent). Report methodology The ATTOM Data Solutions U.S. Home Sales Report provides percentages of distressed sales and all sales that are sold to investors, institutional investors and cash buyers, at the state and metropolitan statistical areas. Data is also available at the county and zip code levels upon request. The data is derived from recorded sales deeds, foreclosure filings and loan data. Statistics for previous quarters are revised when each new report is issued as more deed data becomes available. About ATTOM ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 20TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, and more. Also, introducing our latest solution, that offers immediate access and streamlines data management – ATTOM Cloud.

Inventory Just Hit a 2021 High, which Means More Choices for Fall Buyers
U.S. inventory declines continued to shrink (-22.2% year-over-year) despite a dip in new listings in September SANTA CLARA, Calif., Sept. 30, 2021 -- New housing data shows inventory hit a 2021 high in September, giving buyers more choices than they have had all year, according to the Realtor.com® Monthly Housing Report released today. Nearly one-third of the 50 largest metros continued to see increases in newly-listed homes compared to last year and in Austin, Texas; Portland, Ore.; Jacksonville, Fla.; and Washington, D.C., new listings were up more than 10% year-over-year. "Put simply, this September buyers had more options than they've had all year and while that's typical of early fall, that's not what happened in 2020. Still, it's important to remember that while buyers may have an easier time this fall than they did in the spring, the market remains more competitive than it has been historically at this time of year," said Realtor.com® Chief Economist Danielle Hale. "There are fewer homes for sale than last year and less than half as many as two years ago; homes are also selling a lot faster. With new listings in September dipping below last year for the first time in 5 months, next month's data will yield important clues about whether this setback is going to be temporary or a new trend." Inventory holds steady despite the first new-listings dip in 5 months The U.S. supply of for-sale homes reached a new 2021 high in September, as buyers continued to see steady improvement in the number of active listings compared to earlier this year, the typical seasonal pattern that was notably missing in 2020. The pace at which inventory has been closing-in on the yearly gap slipped in September. Nationally, available inventory – or active listings on Realtor.com® without a contract – reached a new 2021 high of 646,053 for-sale homes in September. U.S. housing inventory declined 22.2% year-over-year in September, an improvement over August (-25.8%), but is still less than half (-52.5%) of typical 2017-2019 levels. Compared to the national rate, inventory declines were improving more quickly in the 50 largest U.S. metros, down by an average of 18.5% year-over-year. Overall new listings posted an annual decline nationwide (-3.9%) for the first time in five months in September, while newly-listed entry-level single-family homes continued to rise (+8.0%). Although the 50 largest U.S. markets saw an average new listings decline of 3.4% year-over-year in September, nearly one-third (16) of those metros continued to post new listings gains, on par with August. The biggest new listings growth was seen in Austin, Texas (+19.9%), Portland, Ore. (+16.3%), Jacksonville, Fla. (+15.1%) and Washington, D.C. (+10.7%). Among the areas with the biggest drops in newly-listed homes in September were those affected by Hurricane Ida, including the Northeast (-5.4%) and South (-3.2%), as well as the West (-4.7%) where wildfires may have delayed new sellers' plans to enter the market. Uncertainty from resurgent COVID cases, which had an outsized impact on sellers earlier in the pandemic, may also be playing a role. Hard-hit metros in these regions registered the highest yearly new listings declines, including New Orleans (-51.2%), Hartford, Conn. (-22.4%), Miami (-14.5%) and Los Angeles (-14.5%). Sellers can still cash in but should check expectations against recent local trends September data also offered good news for sellers as listing prices remained historically-high nationwide. However, September pricing trends reflected more normal seasonal cooling compared to fall 2020, offering buyers some lower cost options, after the double-digit growth seen from August 2020 through July 2021. The U.S. median home price held at last month's near record-high of $380,000 and grew at the same annual rate (+8.6%) in September, and was up 20.6% from 2019. In further signs of some sellers competing more for buyers, the share of active listings with price adjustments grew for the second month in a row in September, up 1.5% year-over-year to 17.9% of active listings. In the nation's 50 largest metros, home prices increased by an average of 4.1% year-over-year in September, an uptick from the August yearly growth rate (+3.5%). The West (+9.1%) and South (+7.9%) posted the biggest regional price gains over last year. Additionally, western and southern metros dominated the top five list of markets by highest price growth: Austin (+33.6%), Las Vegas (+24.6%), Tampa (+20.8%), Orlando (+16.9%) and Riverside, Calif. (+15.4%). Time on market follows more normal seasonality compared to last fall In September, homes sat on the market for slightly longer compared to the feverish pace seen over the summer, giving buyers relatively more time to make decisions. Time on market remains faster than in 2019-2020, but is following more typical seasonality compared to 2020 when homes sold fastest during the Fall. The typical U.S. home spent 43 days on the market in September, an increase over the record-fast pace seen in June (37 days), but home sales were still faster than in 2020 (-11 days) and 2019 (-22 days). Homes sold at a faster pace than the national median in the 50 largest metros in September (37 days), on average, but the gap from last year is shrinking more quickly (-7 days). Time on market trends varied depending on where you live: The South saw the fastest home sales compared to last year (-12 days), with the biggest metro-level declines seen in southern cities like Miami (-32 days) and Raleigh (-29 days). Five metros saw a yearly increase in time on market in September: Washington, D.C. (+7 days), San Diego (+7 days), Philadelphia (+4 days), Buffalo (+2 days) and Baltimore (+2 days). Methodology Housing data as of September 2021. Listings include the active inventory of existing single-family homes and condos/townhomes for the given level of geography on Realtor.com®; new construction is excluded unless listed via the MLS. In this analysis, entry-level homes are defined as 750-1,750 square-foot single family homes. In this release, price adjustments are defined as home listings that had their price reduced in September 2021. Listings that had their prices increased during the month are excluded. In September, the count of listing price reductions was more than 8 times higher than the count of listing price increases. About Realtor.com® Realtor.com® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate more than 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, Realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, Realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit Realtor.com.

Home Affordability Slips Again for Average Workers Across U.S. in Third Quarter Amid Ongoing Price Runup
Typical Home Still Within Means of Average Wage Earner in Third Quarter of 2021; But Historic Affordability Drops in Three-Quarters of U.S. Housing Markets; National Median Home Price Rises 18 Percent to Another New High IRVINE, Calif. - Sept. 23, 2021 -- ATTOM, curator of the nation's premier property database, today released its third-quarter 2021 U.S. Home Affordability Report, showing that median-priced single-family homes are less affordable in the third quarter compared to historical averages in 75 percent of counties across the nation with enough data to analyze. That is up from 56 percent of counties in the third quarter of 2020, to the highest point in 13 years, as home prices have increased faster than wages in much of the country. The report determined affordability for average wage earners by calculating the amount of income needed to meet monthly home ownership expenses — including mortgage, property taxes and insurance — on a median-priced single-family home, assuming a 20 percent down payment and a 28 percent maximum "front-end" debt-to-income ratio. That required income was then compared to annualized average weekly wage data from the Bureau of Labor Statistics (see full methodology below). Compared to historical levels, median home prices in 430 of the 572 counties analyzed in the third quarter of 2021 are less affordable than past averages. The latest number is up from 317 of the same group of counties in the third quarter of 2020 – a downturn that developed as the median national home price shot up 18 percent to a record high of $315,500. While major ownership costs on median-priced homes do remain within the financial means of average workers across the nation in the third quarter of 2021, the percentage of counties where affordability is worse than historical averages has hit its highest point since the third quarter of 2008. The latest pattern – home prices still manageable but getting less affordable – has resulted in major ownership costs on the typical home consuming 24.9 percent of the average national wage of $64,857 in the third quarter of this year. That is up from 24.3 percent in the second quarter of 2021 and 22.3 percent in the third quarter of last year. Still, the latest level is within the 28 percent standard lenders prefer for how much homeowners should spend on mortgage payments, home insurance and property taxes. Those mixed patterns in the third quarter have followed similar trends from earlier in 2021 as the U.S. housing market continues booming despite damage to large segments of the U.S. economy caused by the Coronavirus pandemic that struck in early 2020. Home prices have continued rising in most of the country for the 10th straight year as a glut of home buyers chase a tight supply of homes for sale made even worse by the pandemic. The surge has come amid historically low home-mortgage rates and a desire of many households, largely unscathed financially by the crisis, to seek the relative safety a house or condominium and space for developing work-at-home lifestyles. Mortgage rates below 3 percent throughout most of the past year have helped offset the impact of rising prices, but not enough to prevent the cost of home ownership from getting closer to the unaffordable benchmark. "The typical median-priced home around the U.S. remains affordable to workers earning an average wage, despite prices that keep going through the roof. Super-low interests and rising pay continue to be the main reasons why," said Todd Teta, chief product officer with ATTOM. "But affordability keeps inching in the wrong direction as the housing market boom keeps roaring ahead. That's pushing average workers closer and closer to the point where lenders might be reluctant to give them a mortgage. With much still uncertain about how the pandemic and many other forces could still affect the economy, affordability remains a crucial measure of market stability that could easily keep going in the same direction or swing back the other way." As historic affordability slides this quarter, major home-ownership expenses on typical homes still are affordable to average local wage earners in 303 of the 572 counties in the report (53 percent), based on the 28-percent guideline. The largest counties include Cook County (Chicago), IL; Harris County (Houston), TX; Dallas County, TX; Bexar County (San Antonio), TX, and Wayne County (Detroit), MI. The most populous of the 269 counties where major expenses on median-priced homes are unaffordable for average local workers in the third quarter of 2021 (47 percent of the counties analyzed) are Los Angeles County, CA; Maricopa County (Phoenix), AZ; San Diego County, CA; Orange County, (outside Los Angeles), CA, and Miami-Dade County, FL. Home prices up at least 10 percent in almost two-thirds of country Median single-family home prices in the third quarter of 2021 are up by at least 10 percent from the third quarter of 2020 in 381, or 67 percent, of the 572 counties included in the report. Data was analyzed for counties with a population of at least 100,000 and at least 50 single-family home and condo sales in the third quarter of 2021. Among the 43 counties with a population of at least 1 million, the biggest year-over-year gains in median prices during the third quarter of 2021 are in Middlesex County (outside Boston), MA (up 32 percent); Maricopa County (Phoenix), AZ (up 24 percent); Travis County (Austin), TX (up 23 percent); Hillsborough County (Tampa), FL (up 22 percent) and Clark County (Las Vegas), NV (up 22 percent). Counties with a population of at least 1 million that have the smallest year-over-year median-price increases in the third quarter of 2021 are New York County (Manhattan), NY (up less than 1 percent); Fairfax County, VA (outside Washington, DC) (up 5 percent); Santa Clara County (San Jose), CA (up 6 percent); Suffolk County, NY (eastern Long Island) (up 7 percent) and Dallas County, TX (up 7 percent). Price gains outpace wage growth in three-quarters of markets Home-price appreciation is greater than weekly wage growth in the third quarter of 2021 in 428 of the 572 counties analyzed in the report (75 percent), with the largest including Los Angeles County, CA; Harris County (Houston), TX; Maricopa County (Phoenix), AZ; Miami-Dade County, FL, and Dallas County, TX. Average annualized wage growth is outpacing home-price appreciation in the third quarter of 2021 in 144 of the counties in the report (25 percent), including Cook County (Chicago), IL; San Diego County, CA; Orange County, CA (outside Los Angeles); Santa Clara County (San Jose), CA, and Alameda County (Oakland), CA. Less than 28 percent of average local wages required to buy a home in half the nation Major ownership costs on median-priced homes in the third quarter of 2021 consume less than 28 percent of average local wages in 303 of the 572 counties analyzed in this report (53 percent). Counties requiring the smallest portion are Schuylkill County, PA (outside Allentown) (9.5 percent of annualized weekly wages needed to buy a home); Fayette County, PA (outside Pittsburgh) (10.6 percent); Cambria County, PA (outside Pittsburgh) (10.9 percent); Macon County (Decatur), IL, (11.3 percent) and Bibb County (Macon), GA (11.4 percent). Among the 43 counties in the report with a population of at least 1 million, those where home ownership typically consumes less than 28 percent of average local wages in the third quarter of 2021 include Wayne County (Detroit), MI (12.8 percent); Philadelphia County, PA (15.2 percent); Cuyahoga County (Cleveland), OH (16.4 percent); Harris County (Houston), TX (21.6 percent) and Cook County (Chicago), IL (21.8 percent). A total of 269 counties in the report (47 percent) require more than 28 percent of annualized local weekly wages to afford a typical home in the third quarter of 2021. Counties that require the greatest percentage of wages are Kings County (Brooklyn), NY (78.7 percent of annualized weekly wages needed to buy a home); Santa Cruz County, CA (77.7 percent); Marin County, CA (outside San Francisco) (75.1 percent); Maui County, HI (66.2 percent) and Monterey County, CA (outside San Francisco) (63.7 percent). Aside from Kings County, NY, counties with a population of at least 1 million where home ownership consumes the highest percentage of average annualized local wages in the third quarter include Orange County, CA (outside Los Angeles) (57.9 percent); Queens County, NY (56 percent); Nassau County, NY (outside New York City) (55.3 percent) and Alameda County (Oakland), CA (54.3 percent). More than $75,000 in annual wages needed to afford median-priced home in just one of every five markets Annual wages of more than $75,000 are needed in the third quarter of 2021 to afford the typical home in just 106, or 19 percent, of the 572 markets in the report. The top 33 highest annual wages required to afford the typical home are all on the east or west coasts, led by New York County (Manhattan), NY ($247,479); San Mateo County (outside San Francisco), CA ($246,824); San Francisco County, CA ($241,125); Marin County (outside San Francisco), CA ($232,106) and Santa Clara County (San Jose), CA ($223,718). The lowest annual wages required to afford a median-priced home in the third quarter of 2021 are in Schuylkill County, PA (outside Allentown) ($15,834); Fayette County, PA (outside Pittsburgh) ($16,497); Cambria County, PA (outside Pittsburgh) ($16,895); Robeson County, NC (outside Fayetteville) ($19,358) and Bibb County (Macon), GA ($19,471). Homeownership less affordable than historic averages in three-quarters of counties Among the 572 counties analyzed in the report, 430 (75 percent) are less affordable in the third quarter of 2021 than their historic affordability averages, up from 56 percent of the same group of counties that were less affordable historically in the third quarter of 2020. Counties with a population of at least 1 million that are less affordable than their historic averages (indexes of less than 100 are considered less affordable compared to historic averages) include Wayne County (Detroit), MI (index of 71); Tarrant County (Fort Worth), TX (78); Oakland County, MI (outside Detroit) (78); Maricopa County (Phoenix), AZ (79) and Travis County (Austin), TX (79). Counties with the worst affordability indexes in the third quarter of 2021 include Canyon County, ID (outside Boise) (index of 58); Blount County, TN (outside Knoxville) (64); Ada County (Boise), ID (67); Grayson County, TX (outside Dallas) (67) and Rutherford County (Murfreesboro), TN (68). Among counties with a population of at least 1 million, those where the affordability indexes worsened most from the third quarter of 2020 to the third quarter of 2021 are Middlesex County, MA (outside Boston) (index down 19 percent); Maricopa County (Phoenix), AZ (down 15 percent); Hillsborough County (Tampa), FL (down 14 percent); Clark County (Las Vegas), NV (down 14 percent) and Pima County (Tucson), AZ (down 13 percent). Only a quarter of markets are more affordable than historic averages Among the 572 counties in the report, 142 (25 percent) are more affordable than their historic affordability averages in the third quarter of 2021, down from 44 percent of the same group in the third quarter of last year. Counties with a population of at least 1 million that are more affordable than their historic averages (indexes of more than 100 are considered more affordable compared to historic averages) include New York County (Manhattan), NY (index of 142); Suffolk County, NY (eastern Long Island) (116); Montgomery County, MD (outside Washington, D.C.) (114); Santa Clara County (San Jose), CA (112) and Fairfax County, VA (outside Washington, D.C.) (109). Outside of New York County, NY, counties with the best affordability indexes in the third quarter of 2021 include Macon County (Decatur), IL (index of 157); San Francisco County, CA (142); Charleston County, SC (137) and San Mateo County, CA (outside San Francisco) (127). Counties with a population of least 1 million residents where the affordability index improved most or declined the least from the third quarter of last year to the same period this year are New York County (Manhattan), NY (index up 12 percent); Santa Clara County (San Jose), CA (up 7 percent); Fairfax County, VA (outside Washington, DC) (up 1 percent); Contra Costa County, CA (outside San Francisco) (down less than 1 percent) and Suffolk County, NY (eastern Long Island (down 1 percent). Report Methodology The ATTOM U.S. Home Affordability Index analyzes median home prices derived from publicly recorded sales deed data collected by ATTOM and average wage data from the U.S. Bureau of Labor Statistics in 572 U.S. counties with a combined population of 252 million. The affordability index is based on the percentage of average wages needed to pay for major expenses on a median-priced home with a 30-year fixed rate mortgage and a 20 percent down payment. Those expenses include property taxes, home insurance, mortgage payments and mortgage insurance. Average 30-year fixed interest rates from the Freddie Mac Primary Mortgage Market Survey were used to calculate the monthly house payments. The report determined affordability for average wage earners by calculating the amount of income needed for major home ownership expenses on a median-priced home, assuming a loan of 80 percent of the purchase price and a 28 percent maximum "front-end" debt-to-income ratio. For example, the nationwide median home price of $315,500 in the third quarter of 2021 required an annual wage of $57,727, based on a $63,100 down payment, a $252,400 loan and monthly expenses not exceeding the 28 percent barrier — meaning households would not be spending more than 28 percent of their income on mortgage payments, property taxes and insurance. That required income was less than the $64,857 average wage nationwide based on the most recent average weekly wage data available from the Bureau of Labor Statistics, making a median-priced home nationwide affordable for average workers. About ATTOM ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 20TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, and more. Also, introducing our latest solution, that offers immediate access and streamlines data management – ATTOM Cloud.

August 2021 U.S. Foreclosure Activity Rises Following the End of the Foreclosure Moratorium
Foreclosure Starts Increase 27 Percent from Last Month; While Completed Foreclosures Increase 22 Percent from Last Year IRVINE, Calif. - September 9, 2021 -- ATTOM, licensor of the nation's most comprehensive foreclosure data and parent company to RealtyTrac, the largest online marketplace for foreclosure and distressed properties, released its August 2021 U.S. Foreclosure Market Report, which shows there were a total of 15,838 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 27 percent from a month ago and up 60 percent from a year ago. Numbers reflect the first month since the government moratorium has lifted. "As expected, foreclosure activity increased as the government's foreclosure moratorium expired, but this doesn't mean we should expect to see a flood of distressed properties coming to market," said Rick Sharga, Executive Vice President at RealtyTrac, an ATTOM company. "We'll continue to see foreclosure activity increase over the next three months as loans that were in default prior to the moratorium re-enter the foreclosure pipeline, and states begin to catch up on months of foreclosure filings that simply haven't been processed during the pandemic. But it's likely that foreclosures will remain below normal levels at least through the end of the year." Illinois, Nevada, and New Jersey had the highest foreclosure rates Nationwide one in every 8,677 housing units had a foreclosure filing in August 2021. States with the highest foreclosure rates were Illinois (one in every 3,848 housing units with a foreclosure filing); Nevada (one in every 4,738 housing units); New Jersey (one in every 4,868 housing units); Delaware (one in every 5,348 housing units); and Ohio (one in every 5,517 housing units). Among the 220 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in August 2021 were Bakersfield, CA (one in every 1,796 housing units with a foreclosure filing); Atlantic City, NJ (one in every 1,886 housing units); Cleveland, OH (one in every 2,259 housing units); Rockford, IL (one in every 3,037 housing units); and Las Vegas, NV (one in every 3,718 housing units). Those metropolitan areas with a population greater than 1 million with the worst foreclosure rates in August 2021 included Cleveland, OH and Las Vegas, NV were: Chicago, IL (one in every 3,754 housing units); Riverside, CA (one in every 4,098 housing units); and Birmingham, AL (one in every 4,649 housing units). Foreclosure starts increase 27 percent from last month Lenders started the foreclosure process on 8,348 U.S. properties in August 2021, up 27 percent from last month and up 49 percent from a year ago. "While foreclosure starts increased significantly compared to last month and last year, it's very important to keep these numbers in context," Sharga noted. "Both last year's and last month's foreclosure starts were artificially low due to the government's moratorium. But in August of 2019, the last year we had ‘normal' foreclosure activity, there were almost 28,000 foreclosure starts – over three times more than this year." States that had the greatest number of foreclosure starts in August 2021 were California (1,240 foreclosure starts); Texas (1,060 foreclosure starts); Florida (643 foreclosure starts); Illinois (506 foreclosure starts); and New York (479 foreclosure starts). Those major metropolitan areas with a population greater than 1 million with the greatest number of foreclosure starts in August 2021 included New York, NY (486 foreclosure starts); Chicago, IL (439 foreclosure starts); Los Angeles, CA (401 foreclosure starts); Houston, TX (322 foreclosure starts); and Dallas-Fort Worth, TX (248 foreclosure starts). Foreclosure completion numbers increase across the board Lenders repossessed 2,474 U.S. properties through completed foreclosures (REOs) in August 2021, up 2 percent from last month and up 22 percent from last year. States that had at least 100 REOs in August 2021 and saw the greatest monthly increase included: New York (up 136 percent); Michigan (up 62 percent); Illinois (up 24 percent); Florida (up 19 percent); and Texas (up 13 percent). Those major metropolitan statistical areas (MSAs) with a population greater than 1 million that saw the greatest number of REOs in August 2021 included Chicago, IL (177 REOs); New York, NY (84 REOs); Detroit, MI (78 REOs); Baltimore, MD (58 REOs); and Tampa, FL (43 REOs). Report Methodology The ATTOM U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the ATTOM Data Warehouse during the month and quarter. Some foreclosure filings entered into the database during the quarter may have been recorded in the previous quarter. Data is collected from more than 3,000 counties nationwide, and those counties account for more than 99 percent of the U.S. population. ATTOM's report incorporates documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). For the annual, midyear and quarterly reports, if more than one type of foreclosure document is received for a property during the timeframe, only the most recent filing is counted in the report. The annual, midyear, quarterly and monthly reports all check if the same type of document was filed against a property previously. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state where the property is located, the report does not count the property in the current year, quarter or month. About ATTOM ATTOM provides foreclosure data licenses that can power various enterprise industries including real estate, insurance, marketing, government, mortgage and more. ATTOM multi-sources from 3,000 counties property tax, deed, mortgage, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. About RealtyTrac (Powered by ATTOM's Property Data) RealtyTrac.com is the largest online marketplace for foreclosure and distressed properties, helping individual investors and real estate agents looking to gain a competitive edge in the distressed market. Realtytrac.com enables real estate professionals the ability to find, analyze and invest in residential properties.

Homebuyer Traffic Cools in July, Though Showings Remain at Historic Levels Per Data from ShowingTime
110 markets still averaged more than 20 showings per listing during the first five days listings are active – Lakeland, Fla., was one of the few markets that recorded a month-over-month increase in showings, while Seattle, Denver, Memphis and Orlando lead in double-digit showings CHICAGO (August 20, 2021) -- ShowingTime, the residential real estate industry's leading showing management and market stats technology provider, found that showing activity slowed during July compared to prior months, but still remained at historic levels with 110 markets averaging more than 20 showings per listing during the first five days, per data from the ShowingTime Showing Index. "In general, there are definite signs of cooling demand," said ShowingTime President Michael Lane. "However, buyer traffic is still at historically high levels compared to pre-pandemic showings." Of the top 30 markets tracked by ShowingTime, only Lakeland, Fla., recorded a month-over-month increase in showings per listing. The slowdown is consistent with the normal seasonality of residential real estate. According to the Showing Index, 41 markets still averaged double-digit showings per listing during the month, led by Seattle, Denver, Memphis and Orlando. That was down from June, when 64 markets averaged double-digit showings per listing. In May, 113 markets recorded double-digit showings per listing, while in April that number was 146. The South’s modest jump of 7.7 percent year-over-year growth in buyer demand put the region at the top of the country in July, followed by the West’s meager 0.4 percent uptick. The U.S. overall saw a 5.3 percent drop in showing traffic, with the Northeast seeing a 15.2 percent dip and the Midwest realizing a drop of 0.2 percent. "Although real estate demand continues to be in historic territory, for the first time this year the ShowingTime Showing Index posted a 5.3 percent year-over-year decline in July," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. "The average number of showings per listing have been declining for four months now, at a faster rate than the typical slowdown in this part of the year. Showings per listing declined by 33% from March levels in 2021, while in a typical pre-pandemic year, July would be about 20 percent slower than March." The ShowingTime Showing Index is compiled using data from more than six million property showings scheduled across the country each month on listings using ShowingTime products and services. The Showing Index tracks the average number of appointments received on active listings during the month. About ShowingTime ShowingTime is the residential real estate industry’s leading showing management and market stats technology provider, with more than 1.5 million active listings subscribed to its services. Its products are used in 370 MLSs representing 1.4 million real estate professionals across the U.S. and Canada. Contact us at [email protected].

Serious Improvement: CoreLogic Reports That in May, the U.S. Serious Delinquency Rate Fell to Lowest Level Since June 2020
Additionally, all US states and metro areas posted annual decreases in their overall delinquency rates IRVINE, Calif., August 10, 2021 -- CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for May 2021. For the month of May, 4.7% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 2.6-percentage point decrease in delinquency compared to May 2020, when it was 7.3%. However, overall delinquencies are above the early 2020, pre-pandemic rate of 3.5%. To gain an accurate view of the mortgage market and loan performance health, CoreLogic examines all stages of delinquency. In May 2021, the U.S. delinquency and transition rates, and their year-over-year changes, were as follows: Early-Stage Delinquencies (30 to 59 days past due): 1.2%, down from 3% in May 2020. Adverse Delinquency (60 to 89 days past due): 0.3%, down from 2.8% in May 2020. Serious Delinquency (90 days or more past due, including loans in foreclosure): 3.2%, up from 1.5% in May 2020. While still high, this is the lowest serious delinquency rate since an initial jump during the pandemic in June 2020. Foreclosure Inventory Rate (the share of mortgages in some stage of the foreclosure process): 0.3%, unchanged from May 2020. Transition Rate (the share of mortgages that transitioned from current to 30 days past due): 0.7%, down from 2.2% in May 2020. Many are concerned about a pending foreclosure crisis when government provisions lift. Fortunately, the average homeowner in forbearance has sizeable equity in their home, which has helped create an additional financial buffer for those struggling to make mortgage payments. Thanks to these strong equity gains, and the availability of loan modifications and federal resources, we expect most borrowers have had enough support to stave off a foreclosure wave. Additionally, a recent CoreLogic survey of mortgage holders reports 85% of respondents said they maintained employment through the pandemic, which has helped many homeowners avoid delinquency and prevented a broad-scale mortgage crisis. "The pandemic has created many challenges but, in the case of delinquencies, the impacts have been relatively muted thanks to numerous government support programs and the sharp snapback in economic activity over the past several quarters," said Frank Martell, president and CEO of CoreLogic. "Looking forward, we expect a robust economy and near-zero interest rates to hold delinquency levels at reasonable levels." "The rise in home prices has built a substantial home equity cushion for homeowners with a mortgage, reducing the risk of a foreclosure," said Dr. Frank Nothaft, chief economist at CoreLogic. "The CoreLogic Home Price Index recorded an annual increase of 17% in June. This price rise builds home equity. For most borrowers in forbearance, the equity gain means they'll still have some remaining — even if missed payments are added to their loan balance." State and Metro Takeaways: In May, all U.S. states and metro areas logged a decrease in annual overall delinquency rates, with New Jersey (down 4.8 percentage points), New York (down 4.2 percentage points) and Florida (down 4 percentage points) leading the pack with the largest state declines. The metros with the largest annual declines in overall delinquency rate also occurred in these states, in Miami (down 6.5 percentage points), Kingston, New York (down 5.5 percentage points) and Atlantic City, New Jersey (down 5.4 percentage points). Nevertheless, elevated overall delinquency rates remain in some metros, including Texas, (Odessa; Laredo), Arkansas (Pine Bluff) and New Jersey (Vineland). The next CoreLogic Loan Performance Insights Report will be released on September 14, 2021, featuring data for June 2021. For ongoing housing trends and data, visit the CoreLogic Intelligence Blog. Methodology The data in The CoreLogic LPI report represents foreclosure and delinquency activity reported through May 2021. The data in this report accounts for only first liens against a property and does not include secondary liens. The delinquency, transition and foreclosure rates are measured only against homes that have an outstanding mortgage. Homes without mortgage liens are not subject to foreclosure and are, therefore, excluded from the analysis. CoreLogic has approximately 75% coverage of U.S. foreclosure data. About the CoreLogic Consumer Housing Sentiment Study 3,000+ consumers were surveyed by CoreLogic via Qualtrics. The study is an annual pulse of U.S. housing market dynamics concentrated on consumers looking to purchase a home, consumers not looking to purchase a home, and current mortgage holder. The survey was conducted in April 2021 and hosted on Qualtrics. The survey has a sampling error of~3% at the total respondent level with a 95% confidence level. About CoreLogic CoreLogic, the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy and protect their homes. For more information, please visit www.corelogic.com.

Annual Foreign Investment in U.S. Existing-Home Sales Falls 27% to $54.4 Billion, Lowest Level in a Decade
International buyers purchased 107,000 U.S. residential properties totaling $54.4 billion from April 2020–March 2021, down 31% and 27%, respectively, from the previous year and the lowest volumes since 2011. WASHINGTON (July 26, 2021) -- Foreign buyers purchased $54.4 billion worth of U.S. existing homes from April 2020 through March 2021, a 27% decrease from the previous 12-month period and the fourth consecutive annual decline in foreign investment in U.S. residential real estate, according to a new report from the National Association of Realtors®. Foreign buyers purchased 107,000 properties, down 31% from the prior year, as the COVID-19 pandemic led to a strong global economic contraction and a decline in international tourist and business arrivals. The dollar and sales volumes are the lowest since 2011, when those figures were $66.4 billion and 210,800 properties, respectively. NAR's 2021 Profile of International Transactions in U.S. Residential Real Estate surveyed members about transactions with international clients who purchased and sold U.S. residential property from April 2020 through March 2021. Foreign buyers who resided in the U.S. as recent immigrants or who were holding visas that allowed them to live in the U.S. purchased $32.4 billion worth of U.S. existing homes, a 21% decrease from the prior year and representing 60% of the dollar volume of purchases. Foreign buyers who lived abroad purchased $22 billion worth of existing homes, down 33% from the 12 months prior and accounting for 40% of the dollar volume. International buyers accounted for 2.8% of the $5.8 trillion in existing-home sales during that time period. "The big decline in foreign purchases of homes in the U.S. in the past year is no surprise, given the pandemic-induced lockdowns and international travel restrictions," said NAR Chief Economist Lawrence Yun. "Yet, even with the absence of foreign buyers, the U.S. housing market strengthened solidly." Total U.S. existing-home sales plunged to a seasonally adjusted annual rate of 4.01 million in May 2020. Sales fully recovered by July, eventually reaching a peak of 6.73 million in October. China and Canada remained first and second in U.S. residential sales dollar volume at $4.5 billion and $4.2 billion, respectively, continuing a trend going back to 2013. India ($3.1 billion), Mexico ($2.9 billion), and the United Kingdom ($2.7 billion) rounded out the top five. The United Kingdom was the only country among the top five to see an increase in dollar volume from the previous year ($1.4 billion to $2.7 billion) and it replaced Colombia as the fifth largest country of origin by dollar volume of foreign buyers. The annual dollar volume dropped by at least 50% for foreign buyers from China ($4.5 billion from $11.5 billion), Canada ($4.2 billion from $9.5 billion) and Mexico ($2.9 billion from $5.8 billion). "As travel restrictions loosen and foreign students return to U.S. colleges in the upcoming year, there is likely to be some growth in foreign buying of U.S. real estate," Yun added. "High home prices and the ongoing lack of inventory could, however, pose a challenge for buyers." The median existing-home sales price among international buyers was $351,800, 15% more than the $305,500 median price for all existing homes sold in the U.S. The price difference primarily reflects the locations and type of properties desired by foreign buyers. At $476,500, Chinese buyers had the highest median purchase price, and more than a third – 34% – purchased property in California. For the 13th straight year, Florida remained the top destination for foreign buyers, accounting for 21% of all international purchases. California ranked second (16%), followed by Texas (9%) and Arizona (5%), with New Jersey and New York tied at 4%. All-cash sales accounted for almost two out of five – 39% – international buyer transactions, with a higher percentage among non-resident compared to resident foreign buyers at 61% and 24%, respectively. More than four out of five buyers from the United Kingdom – 82% – made all-cash purchases, the highest share among foreign buyers. Asian Indian buyers were the least likely to pay all-cash at just 8%. Two-thirds of Canadian buyers (66%), two out of five of Chinese buyers (40%), and a third of Mexican buyers (33%) made an all-cash purchase. Forty-three percent of foreign buyers purchased the property for primary residence use and 65% purchased detached single-family homes and townhouses. Nearly half of international buyers – 49% – purchased a home in the suburbs and 28% bought a home in an urban area, a figure that's held steady over the last six years. Seven percent of foreign buyers bought property in a resort area, down from 17% in 2012. "Driving economic development through our work to foster diverse and inclusive communities remains a top priority for NAR," said Katie Johnson, NAR's general counsel and chief member experience officer. "Our association collaborates with groups across the country to educate foreign buyers on the opportunities in U.S. real estate and to maximize the global business potential in our local markets. NAR and the Realtor® brand has grown to a network of more than 100 real estate associations across 85 countries, ensuring stable, accessible markets that allow our members to make direct connections with global real estate professionals and sources of foreign investment." View the full 2021 Profile of International Transactions in U.S. Residential Real Estate here. The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.

Realtor.com June Rental Report: Rents Surge to New Highs Nationwide
The U.S. median rental price increased 8.1% year-over-year to a median of $1,575 SANTA CLARA, Calif., July 15, 2021 -- The shortage of affordable housing inventory forced more prospective homebuyers into the rental market in June, driving the U.S. median rent price to a new high of $1,575, an 8.1% increase year-over-year, according to the Realtor.com® Monthly Rental Report released today. Additionally, rental prices in 44 of the 50 largest metros broke new records led by Riverside, Memphis, Tampa and Phoenix, which posted gains above 20% year-over-year. "The surge we're seeing in rental prices is likely to exacerbate the K-shaped, or uneven, nature of the pandemic recovery in the U.S. Rents are rising at a faster pace than income, which is adding to the challenges faced by lower-income Americans as they struggle to recover from job losses and other hardships brought about by COVID," said Realtor.com® Chief Economist Danielle Hale. "Looking forward, rents aren't expected to slow unless we see a fundamental shift in the number of homes for sale and for rent." Hale added, June's 3.2% price growth over May was more than just the usual seasonal trend of increasing summer rents. Rents typically fluctuate by less than 1% on a monthly basis. In June, rents in all but two of the 50 largest U.S. metros posted month-over-month gains of 1.0% or higher. Miami topped the list at an increase of 7.7% over May, a gain that would be exceptional over the course of 12-months, let alone one. Rents surge to new highs in 44 of the 50 largest U.S. metros The spike in demand for housing is putting pressure on markets already challenged by availability and affordability. Similar to the shortage of homes for sale, the number of homes available to rent is historically low, driving competition and surging rental prices. In June, rents in 44 of the 50 largest U.S. markets hit the highest levels seen in the past two years of Realtor.com® data. Additionally, nearly half of these metros posted month-over-month gains at or above the unusually high national rate. For the second straight month, Riverside, Calif., Memphis, Tenn., Tampa and Phoenix held the top spots by rent growth. Rents in these markets grew at a faster pace in June than last month, posting year-over-year gains of 20% or more in June. Riverside saw the highest growth in June, up 24.2% over last year and 4.6% from May (+19.2%) to a median $2,112. Strong demand for more space widens the rent gap between unit sizesThe desire for larger living space increased significantly during the pandemic, and this trend continued to play out this month. Two-bedroom rents increased at the fastest pace of all unit sizes in June, up 10.2% year-over-year to a new high of $1,770. Two-bedroom rents were up 13.6% in June compared to 2019, rising $212 per month in just two years. Although the gap between two-bedroom rents and smaller unit sizes is getting larger, one-bedroom (+8.0%) and studio (+4.0%) rents also posted significant gains in June, with one-bedroom rents reaching a new high of $1,466. More common to crowded cities, studios saw the steepest declines during COVID but are finally catching up with the overall rental market recovery. In June, studio rents rose 5.8% over 2019 to a new two-year high of $1,294. Realtor.com® June 2021 Rental Data - Top 10 Markets for Year-over-Year Rent Increases Realtor.com®June 2021 Rental Data - 50 Largest Metropolitan Areas Methodology Rental data as of June 2021. Rental units include apartment communities as well as private rentals (condos, townhomes, single-family homes). All units were studio, 1-bedroom, or 2-bedroom units. National rents were calculated by averaging the medians of the 50 largest metropolitan areas. About Realtor.com® Realtor.com® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate more than 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, Realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, Realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit Realtor.com®.

Home Affordability Declines for Average Workers Across U.S. in Second Quarter as Prices Soar
Average Wages Still Above Levels Needed To Afford Typical Home in Second Quarter of 2021; But Historic Affordability Dropped in Almost Two-Thirds of U.S. Housing Markets; National Median Prices Hits New High, Up 22 Percent Over Last Year IRVINE, Calif. - June 24, 2021 -- ATTOM, curator of the nation's premier property database, today released its second-quarter 2021 U.S. Home Affordability Report, showing that median home prices of single-family homes and condos in the second quarter of this year are less affordable than historical averages in 61 percent of counties across the nation with enough data to analyze. That was up from 48 percent of counties in the second quarter of 2020, to the highest point in two years, as home prices have increased faster than wages in much of the country. The report determined affordability for average wage earners by calculating the amount of income needed to meet monthly home ownership expenses — including mortgage, property taxes and insurance — on a median-priced single-family home, assuming a 20 percent down payment and a 28 percent maximum "front-end" debt-to-income ratio. That required income was then compared to annualized average weekly wage data from the Bureau of Labor Statistics (see full methodology below). Compared to historical levels, median home prices in 347 of the 569 counties analyzed in the second quarter of 2021 are less affordable than past averages. The latest number is up from 275 of the same group of counties in the second quarter of 2020 – a backslide that developed amid a 22 percent spike in the median national home price over the same period last year to a record of $305,000. While major ownership costs on median-priced homes do remain within the financial means of average workers across the nation in the second quarter of 2021, the percentage of counties where affordability is worse than historical averages has hit its highest point since the second quarter of 2019. The latest pattern – home prices still manageable but getting less affordable – has resulted in major ownership costs on the typical home consuming 25.2 percent of the average national wage of $63,986 in the second quarter of this year. That is up from 22.7 percent in the first quarter of 2021 and 22.2 percent in the second quarter of last year, to the highest point since the third quarter of 2008. Still, the latest level is within the 28 percent standard lenders prefer for how much homeowners should spend on mortgage payments, home insurance and property taxes. Those mixed trends in the second quarter have developed during a 12-month period in which a glut of home buyers chasing a tight supply of homes for sale has spiked prices in most parts of the nation. The surge has come amid rock-bottom home-mortgage rates and a desire of many households largely untouched by the financial damage caused by the worldwide Coronavirus pandemic to seek the relative safety of a house and yard and more space for developing work-at-home lifestyles. Mortgage rates below 3 percent have helped cushion the impact of rising prices, but not enough to prevent the cost of home ownership from getting closer to the unaffordable benchmark. "Average workers across the country can still manage the major expenses of owning a home, based on lender standards. But things have gone in the wrong direction this quarter in a majority of markets as the national housing market boom roars onward," said Todd Teta, chief product officer with ATTOM. "While super-low mortgage rates have certainly helped in a big way, prices have simply shot up too much to maintain historic affordability levels. The near future of affordability remains very uncertain, as it has throughout the pandemic. ATTOM continues to watch those trends closely. For the moment, the situation is a mix of positive and negative trends." A majority of markets still require less than 28 percent of wages to buy a home Major ownership costs on median-priced homes in the second quarter of 2021 consume less than 28 percent of average local wages in 327 of the 569 counties analyzed in this report (57 percent). Counties requiring the smallest portion are Schuylkill County, PA (outside Allentown) (5.5 percent of annualized weekly wages needed to buy a home); Bibb County (Macon), GA (8 percent); Cambria County, PA (outside Pittsburgh) (8.2 percent); Macon County (Decatur), IL, (9.1 percent) and Peoria County, IL (10.4 percent). Among the 43 counties in the report with a population of at least 1 million, those where home ownership typically consumes less than 28 percent of average local wages in the second quarter of 2021 include Wayne County (Detroit), MI (10.7 percent); Cuyahoga County (Cleveland), OH (12.9 percent); Philadelphia County, PA (18.1 percent); Harris County (Houston), TX (20.2 percent) and Franklin County (Columbus), OH (21 percent). A total of 242 counties in the report (43 percent) require more than 28 percent of annualized local weekly wages to afford a typical home in the second quarter of 2021. Counties that require the greatest percentage of wages are Kings County (Brooklyn), NY (100.8 percent of annualized weekly wages needed to buy a home); Marin County, CA (outside San Francisco) (81.4 percent); Santa Cruz County, CA (76.2 percent); Queens County, NY (68.7 percent) and Monterey County, CA (outside San Francisco) (65.9 percent). Aside from Kings County, NY, and Queens County, NY, counties with a population of at least 1 million where home ownership consumes the highest percentage of average annualized local wages in the second quarter include Nassau County, NY (outside New York City) (63 percent); Orange County, CA (outside Los Angeles) (59.2 percent) and Alameda County (Oakland), CA (54 percent). Home prices up at least 10 percent in almost two-thirds of country Median single-family home prices in the second quarter of 2021 are up by at least 10 percent from the second quarter of 2020 in 348, or 61 percent, of the 569 counties included in the report. Counties were included if they had a population of at least 100,000 and at least 50 single-family home and condo sales in the second quarter of 2021. Among the 43 counties with a population of at least 1 million, the biggest year-over-year gains in median prices during the second quarter of 2021 are in San Bernardino County, CA (up 25 percent); Mecklenburg County (Charlotte), NC (up 24 percent); Maricopa County (Phoenix), AZ (up 21 percent); Hillsborough County (Tampa), FL (up 20 percent) and Middlesex County (outside Boston), MA (up 20 percent). Counties with a population of at least 1 million that have the smallest year-over-year increases (or price declines) in the second quarter of 2021 are New York County (Manhattan), NY (down 21 percent); Wayne County (Detroit), MI (down 2 percent); Bronx County, NY (up 2 percent); Kings County (Brooklyn), NY (up 3 percent) and Santa Clara County (San Jose), CA (up 4 percent). Price gains outpace wage growth in almost three-quarters of markets Home-price appreciation is greater than annualized wage growth in the second quarter of 2021 in 409 of the 569 counties analyzed in the report (72 percent), with the largest including Los Angeles County, CA; Harris County (Houston), TX; Maricopa County (Phoenix), AZ; San Diego County, CA, and Orange County, CA (outside Los Angeles). Average annualized wage growth is outpacing home-price appreciation in the second quarter of 2021 in 160 of the 569 counties in the report (28 percent), including Cook County (Chicago), IL; Kings County (Brooklyn), NY; Bexar County (San Antonio), TX; Santa Clara County (San Jose), CA, and Wayne County (Detroit), MI. Annual wages needed to afford median-priced home exceed $75,000 in less than 20 percent of markets Annual wages of more than $75,000 are needed in the second quarter of 2021 to afford the typical home in just 104, or 18 percent, of the 569 markets in the report. The top 20 highest annual wages required to afford the typical home are all on the east or west coasts, led by San Mateo County (outside San Francisco), CA ($246,090); Marin County (outside San Francisco), CA ($245,914); San Francisco County, CA ($237,588); New York County (Manhattan), NY ($212,246) and Santa Clara County (San Jose), CA ($220,850). The lowest annual wages required to afford a median-priced home in the second quarter of 2021 are in Schuylkill County, PA (outside Allentown) ($9,055); Cambria County, PA (outside Pittsburgh) ($12,688); Bibb County (Macon), GA ($13,415); Robeson County, NC (outside Fayetteville) ($16,951) and Chautauqua County, NY (outside Buffalo) ($17,977). Homeownership less affordable than historic averages in almost two-thirds of counties Among the 569 counties analyzed in the report, 347 (61 percent) are less affordable in the second quarter of 2021 than their historic affordability averages, up from 48 percent of the same group of counties that were less affordable historically in the second quarter of 2020. Counties with a population of at least 1 million that are less affordable than their historic averages (indexes of less than 100 are considered less affordable compared to historic averages) include Mecklenburg County (Charlotte), NC (index of 77); Dallas County, TX (80); Oakland County, MI (outside Detroit) (81); Fulton County (Atlanta), GA (82) and Tarrant County (Fort Worth), TX (82). Counties with the worst affordability indexes in the second quarter of 2021 include Delaware County, PA (outside Philadelphia) (index of 48); Rankin County (Jackson), MS (52); Canyon County, ID (outside Boise) (59); Montgomery County (Dayton), OH (63) and Gaston County, NC (outside Charlotte) (67). Among counties with a population of at least 1 million, those where the affordability indexes worsened annually are Mecklenburg County (Charlotte), NC (index down 14 percent); San Bernardino County, CA (down 14 percent); Wake County (Raleigh), NC (down 11 percent); Hillsborough County (Tampa), FL (down 11 percent) and Maricopa County (Phoenix), AZ (down 11 percent). Roughly 40 percent of markets are more affordable than historic averages Among the 569 counties in the report, 222 (39 percent) are more affordable than their historic affordability averages in the second quarter of 2021, down from 51 percent of the same group in the second quarter of last year. Counties with a population of at least 1 million that are more affordable than their historic averages (indexes of more than 100 are considered more affordable compared to historic averages) include New York County (Manhattan), NY (index of 159); Montgomery County (outside Washington, D.C.), MD (118); Suffolk County, NY (outside New York City) (113); Santa Clara County (San Jose), CA (109) and Fairfax County, VA (outside Washington, D.C.) (108). Outside of New York County, NY, counties with the best affordability indexes in the second quarter of 2021 include Schuylkill County, PA (outside Allentown) (index of 201); Macon County (Decatur), IL (175); Ontario County (outside Rochester), NY (157) and Bibb County (Macon), GA (155). Counties with a population of least 1 million residents where affordability indexes improved the most, year over year, are New York County (Manhattan), NY (index up 40 percent); Santa Clara County (San Jose), CA (up 10 percent); Wayne County (Detroit), MI (up 8 percent); Bronx County, NY (up 4 percent) and Kings County (Brooklyn), NY (up 3 percent). Report Methodology The ATTOM Data Solutions U.S. Home Affordability Index analyzes median home prices derived from publicly recorded sales deed data collected by ATTOM Data Solutions and average wage data from the U.S. Bureau of Labor Statistics in 569 U.S. counties with a combined population of 250.8 million. The affordability index is based on the percentage of average wages needed to pay for major expenses on a median-priced home with a 30-year fixed rate mortgage and a 20 percent down payment. Those expenses include property taxes, home insurance, mortgage payments and mortgage insurance. Average 30-year fixed interest rates from the Freddie Mac Primary Mortgage Market Survey were used to calculate the monthly house payments. The report determined affordability for average wage earners by calculating the amount of income needed for major home ownership expenses on a median-priced home, assuming a loan of 80 percent of the purchase price and a 28 percent maximum "front-end" debt-to-income ratio. For example, the nationwide median home price of $305,000 in the second quarter of 2021 required an annual wage of $57,594, based on a $61,000 down payment, a $244,000 loan and monthly expenses not exceeding the 28 percent barrier — meaning households would not be spending more than 28 percent of their income on mortgage payments, property taxes and insurance. That required income was less than the $63,986 average wage nationwide based on the most recent average weekly wage data available from the Bureau of Labor Statistics, making a median-priced home nationwide affordable for average workers. About ATTOM ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 20TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, and more. Also, introducing our latest solution, that offers immediate access and streamlines data management – ATTOM Cloud.

Home Flipping Rate and Gross Profits Decline Across U.S. in First Quarter of 2021
Home Flipping Rate Falls in First Quarter to Lowest Level Since 2000; Prices on Flipped Homes Drop, Leading to Smallest Profit Margin in 10 Years IRVINE, Calif. - June 17, 2021 -- ATTOM, curator of the nation's premier property database, today released its first-quarter 2021 U.S. Home Flipping Report showing that 32,526 single-family homes and condominiums in the United States were flipped in the first quarter. Those transactions represented only 2.7 percent of all home sales in the first quarter of 2021, or one in 37 transactions – the lowest level since 2000. The latest figure was down from 4.8 percent, or one in every 21 home sales in the nation during the fourth quarter of 2020 and from 7.5 percent, or one in 13 sales, in the first quarter of last year. The quarterly and yearly drops in the flipping rate marked the largest decreases since at least 2000. As the flipping rate dropped, both profits and profit margins also declined. The gross profit on the typical home flip nationwide (the difference between the median sales price and the median price paid by investors) declined in the first quarter of 2021 to $63,500. That amount was down from $71,000 in the fourth quarter of 2020, although still up slightly from $62,000 in the first quarter of last year. The slide pushed profit margin returns down, with the typical gross flipping profit of $63,500 in the first quarter of 2021 translating into a 37.8 percent return on investment compared to the original acquisition price. The gross flipping ROI was down from 41.8 percent in the fourth quarter of 2020, and from 38.8 percent a year earlier, to its lowest point since the second quarter of 2011 when the housing market was still mired in the aftereffects of the Great Recession in the late 2000s. Profits and profit margins went down in the first quarter as median prices on flipped homes decreased quarterly for the first time in two years. Homes flipped in the first quarter of 2021 were sold for a median price of $231,500, down 3.9 percent from $241,000 in the fourth quarter of 2020. That marked the first quarterly decrease in typical resale prices since the fourth quarter of 2018 and the largest quarterly decline since the first quarter 2011. The first quarter-of-2021 median, however, was still up from $222,000 in the first quarter of last year. Home flipping and profit margins dropped in the first quarter of 2021 amid an ongoing housing boom that spiked housing prices but created conditions less favorable for investors. Median values of single-family houses and condominiums shot up more than 10 percent across most of the nation last year as a rush of house hunters jumped into the market, chasing an already-tight supply of homes squeezed further by the Coronavirus pandemic that hit early in 2020. The glut of buyers came as mortgage rates dipped below 3 percent and many households sought houses as a way to escape virus-prone areas and gain space for developing work-at-home lifestyles. That price run-up also raised the possibility that home values during the housing boom, now in its 10th year, had increased to the point where they could flatten out during the roughly six-month period most investors need to renovate and flip homes. "It's too early to say for sure whether home flippers indeed have gone into an extended holding pattern. But the first quarter of 2021 certainly marked a notable downturn for the flipping industry, with the big drop in activity suggesting that investors may be worried that prices have simply gone up too high," said Todd Teta, chief product officer at ATTOM. "After riding the housing boom along with others for years, they now might be having second thoughts. Whether this is the leading edge of a broader market downturn is little more than speculation. But ATTOM will be following all market measures very closely over the coming months to find out." Home flipping rates down in 70 percent of local markets Home flips as a portion of all home sales decreased from the fourth quarter of 2020 to the first quarter of 2021 in 76 of the 108 metropolitan statistical areas analyzed in the report (70.4 percent). The rate commonly dropped from about 5 percent to 3 percent. (Metro areas were included if they had at a population of 200,000 or more and at least 50 home flips in the first quarter of 2021.) Among those metro areas, the largest quarterly decreases in the home flipping rate came in Memphis, TN (rate down 80 percent); Lakeland, FL (down 75 percent); San Francisco, CA (down 74 percent); Columbia, SC (down 73 percent) and Palm Bay, FL (down 73 percent). Aside from Memphis and San Francisco, the biggest quarterly flipping-rate decreases in 51 metro areas with a population of 1 million or more were in Dallas, TX (rate down 72 percent); Orlando, FL (down 71 percent) and Tampa, FL (down 69 percent). The biggest increases in home-flipping rates were in Springfield, MA (rate up 114 percent); Albuquerque, NM (up 103 percent); Springfield, IL (up 95 percent); South Bend, IN (up 86 percent) and Boston, MA (up 79 percent). Typical home flipping returns drop in almost two-thirds of markets The median $231,500 resale price of home flips nationwide in the first quarter of 2021 generated a typical gross flipping profit of $63,500 above the median investor purchase price of $168,000. That gross-profit figure was down from $71,000 in the fourth quarter of 2020, decreasing the typical return on investment in the first quarter of 2021 to 37.8 percent. Profit margins dipped from the first quarter of 2020 to the first quarter of 2021 in 66 of the 108 metro areas with enough data to analyze (61.1 percent). Markets with the biggest declines were Savannah, GA (return on investment down 80 percent); Tuscaloosa, AL (down 76 percent); Salisbury, MD (down 73 percent); Evansville, IN (down 71 percent) and Davenport, IA (down 68 percent). Among metro areas with a population of at least 1 million, the biggest quarterly investment-return decreases during the first quarter of 2021 were in Memphis, TN (ROI down 64 percent); Austin, TX (down 54 percent); Houston, TX (down 50 percent); New Orleans, LA (down 38 percent) and Louisville, KY (down 37 percent). Metro areas with the biggest quarterly increases in profit margins during the first quarter of 2021 included Springfield, MO (ROI up 120 percent); Provo, UT (up 118 percent); Omaha, NE (up 101 percent); Lynchburg, VA (up 101 percent) and Pittsburgh, PA (up 88 percent). Investors sell for at least double their purchase price in only five markets Median resale prices on home flips in the first quarter of 2021 were at least twice the median investor purchase price in only five of the 108 metro areas with enough data to analyze (4.6 percent). They were led by Pittsburgh, PA (225.6 percent return, up from 120.1 percent in the first quarter of 2020); Springfield, IL (119.5 percent return, up from 74.6 percent a year ago); Chattanooga, TN (104.6 percent return, up from 93 percent a year ago); Philadelphia, PA (103.5 percent return, down from 104.1 percent a year ago) and Fayetteville, NC (100 percent return, down from 131 percent a year ago). The smallest first-quarter-of-2021 profit margins on typical home flips were in Austin, TX (9.2 percent return, down from 19.8 percent a year ago); Boise, ID (9.4 percent return, down from 25 percent a year ago); Evansville, IN (10 percent return, down from 35.1 percent a year ago); Houston, TX (10.2 percent return, down from 20.6 percent a year ago) and Raleigh, NC (12.9 percent return, up from 10.2 percent a year ago). Raw profits still highest in the West, Northeast and South; lowest in the Midwest and South The highest raw profits in the first quarter of 2021, measured in dollars, were again concentrated in the West, Northeast and South. Among metro areas with enough data to analyze, the top 20 all were in those regions, led by New York, NY (gross profit of $166,375); Pittsburgh, PA ($152,041); Los Angeles, CA ($145,000); San Francisco, CA ($139,250) and San Diego, CA ($136,000). Nineteen of the smallest 20 raw profits were spread across southern and midwestern metro areas, with the lowest in Gulfport, MS ($11,594 profit); Evansville, IN ($14,100); South Bend, IN ($18,000); Houston, TX ($24,486) and Austin, TX ($27,950). Home flips purchased with cash tick upward Nationally, the portion of flipped homes in the first quarter of 2021 that had been purchased with cash by investors rose to 59.2 percent, up from 57.7 percent in the fourth quarter of 2020, although still down from 59.9 percent a year ago. Meanwhile, 40.8 percent of homes flipped in the first quarter of 2021 had been bought with financing. That was down from 42.3 percent figure in the prior quarter, but still up from 40.1 percent a year earlier. Among metropolitan statistical areas with a population of 1 million or more and sufficient data to analyze, those with the highest percentage of flips in the first quarter of 2021 that had been purchased with cash by investors included Detroit, MI (82.3 percent); Pittsburgh, PA (77.3 percent); Cleveland, OH (74.6 percent); Charlotte, NC (72.5 percent) and Tampa, FL (72.3 percent). Average time to flip nationwide drops to smallest number since 2013 Home flippers who sold homes in the first quarter of 2021 took an average of 159 days to complete the transactions, the lowest level since the third quarter of 2013. The latest number was down from an average of 175 in both the fourth quarter and first quarter of 2020. FHA buyers purchase smaller portion of flipped homes Of the 32,526 U.S. homes flipped in the first quarter of 2021, 10 percent were sold to buyers using loans backed by the Federal Housing Administration (FHA), down from 11.6 percent in the prior quarter and from 14.7 percent in the first quarter of 2020. Among the 108 metro areas with a population of at least 200,000 and at least 50 home flips in the first quarter of 2021, those with the highest percentage of flipped properties sold to FHA buyers — typically first-time home buyers — were Philadelphia, PA (24.3 percent); Bakersfield, CA (24.1 percent); Hartford, CT (23.6 percent); Tulsa, OK (22.4 percent) and Brownsville, TX (21.1 percent). Only 57 counties had a home flipping rate of at least 10 percent Home flips accounted for more than 10 percent of all sales in 57 of the 677 counties around the U.S. with at least 10 home flips in the first quarter of 2021. The top five were McCurtain County, OK (outside Texarkana, AR) (18.5 percent); Montgomery County, IN (outside Indianapolis) (14.3 percent); Greene County, AR (outside Jonesboro) (13.4 percent); Coshocton County, OH (13.2 percent) and Crisp County, GA (outside Albany) (13.1 percent). Report methodology ATTOM analyzed sales deed data for this report. A single-family home or condo flip was any arms-length transaction that occurred in the quarter where a previous arms-length transaction on the same property had occurred within the last 12 months. The average gross flipping profit is the difference between the purchase price and the flipped price (not including rehab costs and other expenses incurred, which flipping veterans estimate typically run between 20 percent and 33 percent of the property's after-repair value). Gross flipping return on investment was calculated by dividing the gross flipping profit by the first sale (purchase) price. About ATTOM ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 20TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, and more. Also, introducing our latest solution, that offers immediate access and streamlines data management – ATTOM Cloud.

REALM and Aidentified Integration Drives the Future of Luxury Real Estate through Technology and Innovation
DENVER, CO - March 17, 2021 -- REALM, the leading global real estate membership, comprised of top agents in over 28 states and nine countries, takes high-powered global networking to a new level by marrying its patented technology, unprecedented data integration, and personal connections of the world's top real estate professionals with Aidentified's unmatched sales and relationship intelligence technology. This dynamic pairing enables REALM members to be matched with clients based upon pre-existing relationships and enhances client data to a level that has never been seen before in the industry. "REALM has always been at the forefront of leading technological advances, driven by lifestyle, culture, and defining shifts in luxury," says REALM Founder and CEO, Julie Faupel. "The integration of Aidentified into REALM's proprietary technology is yet another example of how REALM is redefining the future of luxury real estate." "We believe that the connection between Aidentified and REALM inspires an unparalleled level of connectivity between real estate brokers and their clients," says Tom Aley, Chairman and CEO of Aidentified. "We extend the broker network by leveraging AI-informed non-obvious connections including job positions and board overlap, even down to households and neighbor connections. This exponentially multiplies the reach of their sphere and uncovers new opportunities for brokers to engage." REALM's expanded offering through Aidentified's technology has already attracted some of the most luxurious new developments in the world. "At 181 Fremont in San Francisco, relationships and technology are key to sharing our spectacular residences with clients from Silicon Valley and around the world," says Leo Mederios, Director of Sales for 181 Fremont Residences. "The addition of Aidentified's intelligence to REALM delivers deeper connections that will be a game-changer for us." Aidentified's data integration is now available to all members of REALM to drive connections with hyper-targeted, qualified prospects using predictive analytics and next level AI-based relationship intelligence mapping. REALM member Nina Hatvany of Compass in San Francisco responds. "REALM launched as the pandemic drastically curbed the ability of real estate agents to connect to their peers and clients in person. This data-driven technology platform offers focused matching algorithms that help pair clients to the type of properties they will prefer. It has become an invaluable tool that fosters relationships with other top agents across the country providing a smarter way to acquire and sell properties on behalf of our clients in a historically competitive market." This is another example of how REALM has continued to forge strong with a myriad of data-rich firms to deepen the offerings to luxury agents whose clients expect only the best. About REALM REALM is the first globally collaborative real estate platform that combines real-time data with human experience and networking. Its membership is comprised of the most accomplished real estate professionals ever assembled. A REALM membership is a relationship enhancer, with a game-changing technology platform that will enhance client data, provide a lifestyle profile for a member's clients, and then match elite REALM members anywhere in the world based on the clients they represent and the listings they have. To learn more, go to https://www.realmglobal.com About Aidentified Aidentified was founded by twin brothers Darr and Tom Aley after a number of successful data related ventures and work at Amazon, D&B, and Dow Jones. The unmet opportunity they saw was the "Holy Grail" of combining an individual's consumer and professional attributes into a unified single household profile, using new technology to surface relevant relationships. Leveraging 210 million U.S. profiles, Aidentified uses the latest AI and machine learning technologies that allow its customers to search for prospects based on recent wealth events that include stock trades, mergers and acquisitions, IPOs, management changes, new company investments, income, age, location, position within a company, personal interests and more. Aidentified's proprietary Relationship Mapping algorithms further help by connecting customers' personal and corporate networks and their client networks to find the strongest path to a prospect. (www.aidentified.com)

Home Price Increases in Opportunity Zone Redevelopment Areas Keeping Pace with Nationwide Gains
Median Prices Rise Annually in Fourth Quarter of 2020 in Three-Quarters of Opportunity Zones; Median Values Jump At Least 10 Percent in Almost Two-Thirds of Zones; Prices Go Up at Roughly the Same Pace as Increases Outside of Zones IRVINE, Calif. - Feb. 18, 2021 -- ATTOM Data Solutions, curator of the nation's premier property database, today released its fourth-quarter 2020 special report analyzing qualified low-income Opportunity Zones established by Congress in the Tax Cuts and Jobs act of 2017 (see full methodology below). In this report, ATTOM looked at 3,588 zones around the United States with sufficient sales data to analyze, meaning they had at least five home sales in the fourth quarter of 2020. The report found that median home prices increased from the fourth quarter of 2019 to the fourth quarter of 2020 in 77 percent of Opportunity Zones with sufficient data and rose by more than 10 percent in nearly two-thirds of them. Those percentages were roughly the same as in areas of the U.S. outside of Opportunity Zones. With prices remaining well below average in most Opportunity Zones, about 38 percent of the zones with enough data to analyze still had median prices of less than $150,000 in the fourth quarter of 2020. However, that was down from 46 percent a year earlier as prices inside some of the nation's poorest communities rolled ahead with broader market, defying troubles flowing from the 2020 Coronavirus pandemic that slowed or idled significant sectors of the U.S. economy. The pandemic's impact generally has hit hardest in lower-income communities that comprise most of the zones targeted for tax breaks designed to spur economic redevelopment. Housing markets inside Opportunity Zones continued to benefit from the nation's nine-year price boom. Opportunity Zones are defined in the Tax Act legislation as census tracts in or along side low-income neighborhoods that met various criteria for redevelopment in all 50 states, the District of Columbia and U.S. territories. Census tracts, as defined by the U.S. Census Bureau, cover areas with 1,200 to 8,000 residents, with an average of about 4,000 people. "The country's long run of home-price increases continues to leave no part of the housing market untouched, boosting fortunes from the wealthiest to the poorest parts of the United States. The latest evidence is the fourth-quarter 2020 data showing prices going up in Opportunity Zone neighborhoods at around the same rate, and sometimes more, than in more well-off communities," said Todd Teta, chief product officer with ATTOM Data Solutions. "No doubt, prices remain substantially lower in Opportunity Zones, but the fact that they often rose by double-digit percentages in Q4 is significant. Not only does it show market strength, but it also suggests that many distressed communities are ripe for the redevelopment that the Opportunity Zone tax breaks are designed to promote." High-level findings from the report include: Median prices of single-family homes and condos rose from the fourth quarter of 2019 to the fourth quarter of 2020 in 77 percent of Opportunity Zones with sufficient data to analyze and increased in 58 percent of the zones from the third to the fourth quarters of 2020. By comparison, median prices rose annually in 79 percent of census tracts outside of Opportunity Zones and quarterly in 58 percent of them. (Of the 3,588 Opportunity Zones included in the report, 3,183 had enough data to generate usable median prices in the fourth quarters of both 2019 and 2020; 3,179 had enough data to make comparisons between the third and fourth quarters of 2020). Measured year over year, median home prices rose more than 10 percent in the fourth quarter of 2020 in 1,945 (61 percent) of Opportunity Zones with sufficient data to analyze. That price increase occurred in 56 percent of other census tracts throughout the country with sufficient data. A wider gap emerged when looking at areas where prices rose at least 25 percent from the fourth quarter of 2019 to the fourth quarter of 2020. Measured year over year, median home prices rose by that level in 1,098 (34 percent) of Opportunity Zones and 24 percent of census tracts elsewhere in the country. States with the largest percentage of zones with median prices that rose, year over year, during the fourth quarter of 2020 included Utah (median prices up, year over year, in 89 percent of zones), Oregon (86 percent), Washington (85 percent), Arizona (85 percent) and Connecticut (84 percent). Of all 3,588 zones in the report, 1,356 (38 percent) had a median price in the fourth quarter of 2020 that was less than $150,000 and 598 (17 percent) had medians ranging from $150,000 to $199,999. The total percentage of zones with typical values below $200,000 was down from 64 percent in the fourth quarter of 2019. Median values in the fourth quarter of 2020 ranged from $200,000 to $299,999 in 837 Opportunity Zones (23 percent) while they were at least $300,000 in 797 (22 percent). The Midwest continued to have the highest portion of Opportunity Zone tracts with a median home price of less than $150,000 (59 percent), followed by the South (49 percent), the Northeast (40 percent) and the West (6 percent). Median household incomes in 89 percent of Opportunity Zones were less than the medians in the counties where they were located. Median incomes were less than three-quarters of county level figures in 59 percent of zones and were less than half in 16 percent. Report methodology The ATTOM Data Solutions Opportunity Zones analysis is based on home sales price data derived from recorded sales deeds. Statistics for previous quarters are revised when each new report is issued as more deed data becomes available. ATTOM Data Solutions compared median home prices in census tracts designated as Opportunity Zones by the Internal Revenue Service. Except where noted, tracts were used for the analysis if they had at least five sales in the fourth quarter of 2020. Median household income data for tracts and counties comes from surveys taken by the U.S. Census Bureau (www.census.gov) from 2015 through 2019. The list of designated Qualified Opportunity Zones is located at U.S. Department of the Treasury. Regions are based on designations by the Census Bureau. Hawaii and Alaska, which the bureau designates as part of the Pacific region, were included in the West region for this report. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 20TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, marketing lists, match & append and introducing the first property data delivery solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).

Buyer Activity Continued Its Late-season Surge Across the U.S., Led by Denver, Colorado Springs and Three Utah Cities
Data from ShowingTime revealed double-digit showings per listing in multiple cities in the West including Ogden, Provo and Salt Lake City, Utah, while similar increases were recorded in Washington, D.C., Arlington & Alexandria, Va., and Worcester, Mass. CHICAGO - (January 27, 2021) -- ShowingTime, the residential real estate industry's leading showing management and market stats technology provider, found that December's usual seasonal slowdown was reversed in 2020, with showing traffic across the country surging 63.5 percent year-over-year as buyers had more on their minds than just shopping for gifts. "Of the 20 cities recording the heaviest showing traffic, all but three also had month-over-month increases. This is not what anyone expected, but 2020 was anything but normal," said ShowingTime President Michael Lane. "In December, Ogden and Provo were up 122 percent and 123 percent, respectively, compared to 2019. Denver had more than twice the average number of showings per listing, as did Colorado Springs. "While the year was a challenge for everyone, we've seen consumers in many markets make up for lost time shopping for homes. The industry adapted quickly, with the data suggesting the positive momentum will continue, so we're excited to help clients respond to the sustained demand." For the second consecutive month the West Region saw the most significant year-over-year increase in showing activity, with a jump of 82.1 percent. The South followed with a 69.7 percent increase, with the Midwest's 61.1 percent uptick and Northeast's 60.4 percent climb rounding out the gains. "2020 proved to be a tumultuous year, yet so far across the U.S. we continue to see increased levels of demand concentrated on a dwindling set of available listings," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. "Year-over-year increases are at historically high levels, especially on the West Coast, and although December's stats are more likely to be distorted by weather and other factors, the trajectory we've seen in 2020 points to continued upward pressure on prices in the next few months." The ShowingTime Showing Index is compiled using data from more than six million property showings scheduled across the country each month on listings using ShowingTime products and services. The Showing Index tracks the average number of appointments received on active listings during the month. About ShowingTime ShowingTime is the residential real estate industry's leading showing management and market stats technology provider, with more than 1.5 million active listings subscribed to its services. Its products are used in 370 MLSs representing 1.4 million real estate professionals across the U.S. and Canada. Contact us at [email protected].

Realtor.com December Housing Report: Number of Homes for Sale Hits an All-Time Low
Buyers and sellers remained active throughout holiday season, draining inventory while driving price growth and quick sales SANTA CLARA, Calif., Jan. 7, 2021 -- The number of homes for sale in the U.S. reached an all-time low in December, dipping below 700,000 for the first time as buyers remained active throughout the holiday season, according to realtor.com's Monthly Housing Trends Report released today. Due to unusually strong demand, home prices were up double digits compared to last year, however, the median listing price came down to $340,000 from a summer high of $350,000. "The shortage of homes for sale has been an ongoing issue for the last couple of years, but in December the combination of the holiday inventory slowdown and the pandemic buying trend caused it to dip to its lowest level in history," said realtor.com® Chief Economist, Danielle Hale. "Looking forward, we could see new lows in the next couple of months as buyers remain relatively active, but a surge of new COVID cases may slow the number of sellers entering the market. Newly listed properties have shown mixed trends. While December's data points to possible relief on the horizon, this figure has been impacted the most in areas with large COVID surges, and consistent improvement will be key in order to get out of this extreme shortage. We eventually expect to see improvements in the supply of homes for sale, especially in the second half of the year. Until then, finding a home will continue to be a top challenge for buyers across all price ranges." The number of homes for sale reached a historic low as buyer demand remained strong Nationally, the number of homes for sale was down 39.6%, amounting to 449,000 fewer homes for sale than last December. Newly listed homes were only down 0.8% compared to last year, a substantial improvement from November when new listings were down 8.7%. Western (+30.8%) and Northeastern larger markets (+15.0%) are seeing the strongest improvements with more new listings hitting the market, while the Midwest (+0.2%) and South (-4.0%) lagged behind. The West's surge in newly listed homes is primarily attributed to San Jose, Calif. (+123.8%) and San Francisco (+98.9%), which saw far more new listings this December compared to 2019. The metros with the largest declines in new listings compared to last year included: Nashville, Tenn. (-19.9%); Memphis, Tenn. (-18.5%); and Charlotte, N.C. (-16.0%). Home prices continued to grow at double-digits The median listing price grew 13.4% year-over-year, to $340,000 in December. This is a slight step back from its peak of $350,000. While prices increased nationwide, the largest gains were seen in the Northeast (+12.2%), followed by the West (+10.4%), Midwest (+8.6%) and South (+6.7%). Within the nation's 50 largest metros, prices increased by 8.8%, nearly the same as last month. The metros which had the largest gains in prices included: Austin, Texas (+20.0%), Riverside-San Bernardino, Calif (+17.2%), and New Orleans (+16.8%). Minneapolis (-1.6%) was the only metro to see price declines. Homes continued to sell rapidly during holiday season Homes sold in 66 days on average in December, which is 13 days faster than last year. Within the nation's 50 largest metros, homes sold even faster, spending only 56 days on average on market. The metros where homes sold the fastest compared to last year included: Virginia Beach, Va. (-28 days); Hartford, Conn. (-23 days); and Louisville, Ky. (-23 days). The four metros where homes sold more slowly compared to last included: San Diego (+6 days); Miami (+5 days); Buffalo, N.Y. (+3 days); and New York (+2 days). Metros With the Largest Increase in New Listings   *Some data for Pittsburgh has been excluded due to data quality. About realtor.com® Realtor.com® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate more than 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.

BoomTown Announces Direct Integration with Sisu Accountability Solution
Leveraging data from the BoomTown CRM, Sisu's software gamifies and visualizes data to empower agent performance, and deep integration keeps teams, tools and data in one platform. CHARLESTON, S.C., December 8, 2020 -- BoomTown, the leading sales and marketing platform for real estate professionals, is excited to announce a direct integration with Sisu, a performance management and business intelligence platform that helps real estate professionals take advantage of their data. The integration will allow users to leverage the powerful data in their BoomTown CRM to create real-time performance leaderboards and motivational tools to drive productivity without requiring any data export or third-party integration. "Top-producing agents, teams, and brokers ensure everything is measured, analyzed, and optimized in their businesses, and we noticed many of our clients were finding success leveraging their BoomTown CRM and Sisu's software," said Grier Allen, CEO & President of BoomTown. "We wanted to make that simpler and more seamless, for them, and help them leverage even deeper insights and tools without the need for duplicate entry, so I couldn't be more excited about this direct integration that delivers all of that and more." The integration, provided at no cost to BoomTown clients, allows users to bi-directionaly sync their leads, agent activities, and transaction data between BoomTown's CRM platform and Sisu's software. The data is then displayed in leaderboards for television display, real-time dashboards, and sales contests, visualizing these metrics to help agents pace with their team and brokerage goals in an engaging and effective manner that is proven to drive productivity. Complex transactions and heavy workloads are simplified with drag-and-drop task boards, as well as customer-created forms, fields, notifications and task templates. Back office reporting is simplified with intuitive auto-generated reports and commission management tools, to provide complete pipeline management and reporting from lead generation to closed transaction. "The industry has been asking for a lead-to-close platform since I entered the industry six years ago, and together with BoomTown, we are exactly that," said Brian Charlesworth, Founder and CEO of Sisu. "Our Growth Automation Software makes managing sales teams and administrative teams seamless, and turns team owners and broker owners into great leaders." Users can make data-driven decisions across their entire real estate transaction cycle timeline. The direct integration also provides automatic: Creation of a transaction in Sisu when leads hit specific categories (like "hot" or "pending") Inclusion of BoomTown communication activity into Sisu's solution Bi-directionaly synced appointment data (Set, Met) between Sisu and BoomTown Closed Transaction data bi-directionaly synced between Sisu and BoomTown Further optimization of the integration will include historical pull capabilities and in-depth lead source ROI reporting. About BoomTown BoomTown exists to make real estate agents successful. 40k+ of the industry's top professionals, and 40% of the Real Trends Top 250 teams, trust BoomTown to grow their real estate business with easy-to-use technology that creates opportunities and turns them into closings. Capabilities include a customizable real estate website integrated with local MLS data, client success management, a cutting-edge CRM (Customer Relationship Management) system with custom marketing automation, personalized advertising and lead generation services, and a mobile app for agents on the go. BoomTown's service offerings extend far beyond technology with coaching services from peers who have catapulted their growth with the system, lead qualification services to contact, qualify, and nurture leads, and dedicated advisors to offer personalized support at every step from onboarding and training to optimizing your business and planning for strategic growth. Founded in 2006 and headquartered in Charleston, SC, BoomTown has additional offices in Atlanta, GA and San Francisco, CA. For more about BoomTown visit boomtownroi.com. About Sisu Sisu is the complete sales and recruiting Growth Automation Software platform for real estate and mortgage. It was developed as a tool to simplify the tracking of sales metrics, provide critical analysis of those numbers, and gamify the entire real estate and mortgage sales experience. We have evolved to provide a central hub of real estate and mortgage sales transactions; consolidating disparate systems into one common view, while also managing commissions and tasks. While we love motivating and managing by data, our passion lies in motivating sales and admin teams by encouraging healthy competition and accountability. We want all of our users to reach their goals by understanding exactly what is needed in order to do so. Every sales environment could use more grit, determination, perseverance, and courage. In addition, with over 27K vendors on Sisu's platform, we are focused on being the centralized ecosystem for real estate and its ancillary industries to communicate and collaborate. For more information visit sisu.co.