With the June 2022 real estate market, housing affordability continued its affordability crisis for potential home buyers. However, New Home Sales offer a beacon of hope with a notable gain.

With the recent Fed testimony, Federal Reserve Chairman Jerome Powell assured lawmakers about their plans to bring down inflation. Not only does Fed Chair Jerome Powell seek to avoid a recession, he believes the Federal Reserve has the tools to do so.

May 2022 highlighted numerous real estate market challenges facing prospective home buyers. Now, the data directly supports the drop-off in activity.

As inflation soars and loan applications plummet, real estate analysts are starting to see evidence of a buyers’ market in 2022. For the past several years, many real estate analysts considered the housing market to be a ‘seller’s market’. In the real estate world, home prices rose, interest rates fell, and demand reached one of the highest points in decades. Now, though, that trend may be changing. As the United States housing market shows a slowdown in purchasing, the tide shifts towards buyers instead.

Throughout 2021, the United States real estate market experienced a massive resurgence, however, total mortgage originations are now plummeting this year.

After last year’s record-setting real estate year, 2022 is displaying declining loan originations and refinancing activity. Since the start of the coronavirus pandemic, the housing market has taken center stage while home demand has skyrocketed. As the dust settles, the numbers now point in the opposite direction. As demand wanes, prices surge, and mortgage, refinancing, and loan applications begin to decline.

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.

Owner’s title insurance contains a fascinating history, dating back over 150 years to 1868. In the case of Watson v. Muirhead, the transaction conveyancer discovered that the property in question was under lien. Although an attorney advised the conveyancer that the lien was invalid, a court ruled that it was in fact valid, after all.

As a direct result of the case outcome, a consortium of Philadelphia conveyancers banned together to form the first title insurance entity. With a clear goal in mind, the group set out to prevent innocent home buyers from falling victim to matters such as the aforementioned.Today, many in the real estate industry debate the merits of an owner’s title insurance policy. While lenders typically require their own policy to protect their interests, the same as generally not said for the end homeowner. However, as the real estate market progressively grows in its complexity, we firmly believe that an owner’s policy represents a saving grace for many.

As previously mentioned, 2021 marked one of the best years for real estate in recent memory. After the coronavirus pandemic stifled home sales throughout the country, the real estate market rebounded at a quicker pace than anticipated. However, the real estate market still deals with longstanding housing inventory challenges. In addition, rising home prices and mortgage rates produce a barrier to entry for prospective first-time home buyers.

With the United States continuing to witness record-setting inflation levels, Chicago home prices see massive appreciation. Of course, this market correction comes after a two-year period of record-low mortgage rates and a lackluster 2020 real estate year. Hot off the trail of 2021’s real estate market rebound, Chicagoland real estate affordability grows farther out of reach for first-time buyers.

After a strong performance towards the end of 2021, existing home sales experienced an unanticipated decline in December. Thus, home sales fell 5% from November to December 2021. However, the United States real estate market realized a massive 8.5% improvement over 2020. In doing so, existing home sales achieved their best year since 2006.

After years of record-low figures, mortgage rates turn volatile as we progress into 2022. With the onset of the novel coronavirus pandemic, mortgage rates plummeted alongside the global economic uncertainty. However, last year, the United States generated a much faster than anticipated economic rebound. In fact, 2021 home sales achieved their best year on record since 2006. One month into 2022, analysts already predict higher mortgage rates before the end of the year.

In the United States housing sector, home buyers face strong barriers heading into 2022. While December 2021 saw major FHFA changes, housing starts and home sales remain competitive.

2021 represented a banner year for real estate, leaving many to inquire about 2022 mortgage rates. Last year, mortgage rates hovered around record low numbers. Real estate experts largely attributed this to the prevalence of the coronavirus pandemic, and its numerous variants.

The end of the year saw housing starts fall short of expectations. Meanwhile, consumer spending skyrocketed heading into the holiday season. After November surpassed October’s 30-year inflation high, the Fed planned to expedite its timeline for tapering bond purchasing. Finally, analysts expect to see plenty of volatility in mortgage markets towards the end of December as trading activity normally declines.

With 2021’s low interest rates, real estate analysts noticed a surprising trend: demand for second homes. In today’s competitive real estate market, buying one home can be challenging enough. This is especially true in the era of COVID-19. However, analysts did not originally predict current homeowners to lead the charge on purchasing that second property.

As the holiday season approaches, investors saw new home sales jump. Additionally, home values rose this year. Many factors play a role in the increase, particularly limited inventory and inflation. Currently, investors worry about future economic growth. This past month, the United States witnessed record-high inflation, supply chain struggles, and job growth struggles.

Last month, the US Supreme Court pass a vote, which lifted the eviction moratorium. Previously, the Biden administration expanded the eviction moratorium.