BAM Key Details:
ATTOM released its U.S. Residential Property Mortgage Origination Report for Q1 2023, showing a 19% quarterly drop in the total number of residential loans—to its lowest point since 2000.
Both refinance and purchase mortgage originations fell nearly 20% from the previous quarter, with refis down 85% year over year.
Home equity lending also fell for the second quarter in a row.
The Federal Housing Finance Agency (FHFA) released its House Price Index (HPI®) for Q1 and March of 2023. House prices climbed 4.3% from Q1 2022 to Q1 2023. They also rose 0.5% compared to Q4 2022, while, on a monthly basis, they rose 0.6% from February.
A new report from Redfin shows an almost 50% annual drop in the number of investor home purchases in Q1 2023, outpacing the 40.7% annual drop in overall home purchases.
ATTOM released its Q1 2023 U.S. Home Sales Report, which shows seller profit margins on single-family home and condo sales across the country fell to 44.2% as home prices remained flat in three quarters of the U.S.
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