Industry News

Industry news plays a vital role in understanding the latest trends in housing, title insurance, and escrow services. From monthly housing market updates to practical tips and best practices, staying informed can help navigate the complexities of real estate with confidence. Plymouth Title Guaranty Corporation shares insights and updates designed to keep professionals and homebuyers prepared for every step of the process.

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January 2025 Housing Market: Sales Decline While Inventory Shows Improvement

The January 2025 Housing Market saw a decline in sales of existing homes, falling 5% from December. However, sales were still slightly higher than a year ago, indicating some resilience despite ongoing challenges in affordability and supply. The median existing-home price stood at $396,900, marking a 5% increase compared to the previous year and setting a record high for January. Inventory levels remained at historically low levels, with a 3.5-month supply nationally—still far below the six-month supply that characterizes a balanced market. However, there was a silver lining: inventory levels were 17% higher than a year ago, providing some relief for prospective buyers.

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December 2024 Housing Market: Sales Rise While Inventory Remains Tight

The December 2024 Housing Market experienced a modest but notable increase in sales of existing homes, reaching the highest level since February. Sales were 9% higher than a year ago, signaling some resilience despite ongoing challenges in affordability and inventory. The median existing-home price climbed to $404,400, reflecting a 6% increase compared to the previous year. While this uptick in sales is encouraging, the market remains constrained by historically low inventory levels, which stood at just a 3.3-month supply nationally—far below the six-month supply typical of a balanced market. However, there was a silver lining: inventory levels were 16% higher than a year ago, offering some hope for prospective buyers.

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June 2024 Housing Market: United States Home Prices Rise Again

The June 2024 housing market has witnessed a significant rise in home prices across the United States. This trend, coupled with various economic and market factors, paints a comprehensive picture of the current real estate landscape. Understanding these trends is crucial for buyers, sellers, investors, and industry professionals as they navigate the complexities of the housing market.

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May 2024 Housing Market: Home Prices Hit a Record-High

The May 2024 housing market data reveals significant fluctuations in home sales, prices, inventory levels, and new construction activities. As we navigate through 2024, the housing market continues to present a mixed bag of trends and challenges. For Illinois residents and those involved in the real estate sector, understanding these dynamics is crucial for making informed decisions.

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March 2024 Housing Market: Home Buyers Walk the Tightrope

The March 2024 housing market data exhibits a complex and challenging landscape, marked by fluctuating sales figures, low inventory, and escalating prices. These conditions, reflecting broader economic trends and local market pressures, create a mixed bag of opportunities and obstacles for buyers, sellers, and investors alike. The March housing statistics provide a telling snapshot of the current dynamics.

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December 2023 Housing Market: Navigating Current Real Estate Trends

The December 2023 housing market offers a comprehensive snapshot of the current real estate landscape, revealing trends that are crucial for buyers and sellers alike to understand. With the fluctuation in sales, inventory levels, and prices, this period has become a focal point for those looking to navigate the market effectively. Plymouth Title Guaranty Corporation is here to guide our clients through these developments, ensuring they are well-informed to make strategic decisions in their real estate endeavors.

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August 2023 Housing Update: Home Sales Dip, Inventory Shortage Persists

In the dynamic landscape of the housing market, recent data unveils a mixed bag of news that underscores the ongoing challenges and opportunities within the industry.

Existing home sales for the month of June saw a decline of 3% compared to May, marking a 19% drop from the previous year at the same time. This sluggish sales pace, the slowest for June since 2009, raises questions about the factors at play in the real estate market.

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May 2023 Housing Market: Rebounding Activity and Persistent Challenges

In May, the housing market witnessed a glimmer of hope as mortgage activity rebounded following a period of decline. The Mortgage Bankers Association (MBA) reported a 5% increase in purchase applications compared to the previous month, indicating increased demand for housing. Refinancing applications also experienced a notable uptick, rising by 10%. However, it is important to note that both purchase and refinance applications remained lower compared to the previous year.

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July 2022 Real Estate: Mortgage Applications Plummet with Affordability Challenges

Heading into the July 2022 real estate market, the United States continues to face timeless obstacles. As the latest inflation data shows year-over-year growth, the white-hot U.S. real estate market displays signs of stalling.

Despite 2021 reflecting a surge in home sales activity, sales of existing homes just achieved their fifth month in a row of declining statistics. As a matter of fact, sales of existing homes fell to their lowest point since June 2020.

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Housing Inventory Fell to New Record-Low Level in March 2022

With the release of last month’s real estate market report, housing inventory fell to a new record-low level. Meanwhile, both existing and new home sales disappointed as prices jumped higher. As the United States first experienced the coronavirus pandemic in 2020, the housing market suffered. One year later, the United States surged through an unprecedented economic rebound. In the wake of the rebound, 2021’s real estate market performed very well. In fact, 2021 saw the United States reach its best year in home sales since 2006.

However, housing is a game of give and take. And now, the market is facing another slowdown. With mortgage rates exceeding 5%, loan applications declined considerably. In addition, existing home inventory fell to a record-low level in March. Because of this, prospective home buyers face tougher competition for fewer properties.

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