Black Knight:
- Black Knight’s HPI showed that while home prices continued to pull back in October, the month’s 0.43% decline (a seasonally adjusted 0.13% decrease) was the smallest seen since prices peaked in June
- Annualized appreciation slowed to 9.3% from September’s 10.7%, marking the seventh consecutive month of cooling, but the smallest such decline since May
- New for-sale listings in October were 19% (-94K) below 2017-2019 levels, marking the largest deficit in six years – outside of March and April 2020 when much of the country was in lockdown
- Three months of stalled inventory growth is softening downward pressure on home prices from home affordability that still remains near 35-year lows
- Despite the slowdown in price corrections, equity risk among 2022 purchase mortgages persists, while risk remains minimal among those who bought 12 or more months ago
- Of all homes purchased with a mortgage in 2022, 8% are now at least marginally underwater and nearly 40% have less than 10% equity stakes in their home, a situation most concentrated among FHA/VA loans
- Overall, at just 0.84%, negative equity rates among all mortgaged properties remain extremely low by historical standards
- More than 25% of 2022 FHA/VA purchase mortgage holders have now dipped into negative equity, with 80% having less than 10% equity
- Early-payment defaults – loans delinquent within six months of origination – have been rising among FHA borrowers over the past year and now sit above pre-pandemic levels
JACKSONVILLE, Fla. – Dec. 5, 2022 – Today, the Data & Analytics division of Black Knight, Inc. (NYSE:BKI) released its latest Mortgage Monitor Report, based on the company’s industry-leading mortgage, real estate and public records datasets. Despite home price corrections continuing in many markets nationwide driven by tight affordability and higher rates, the pace of price declines has slowed measurably over the past two months. As Black Knight Data & Analytics President Ben Graboske explains, what would ordinarily be an environment ripe for steep declines in home prices has been offset somewhat by stagnant levels of for-sale inventory. more
I hope every one of them voted Democrat.
Fuck Em!
Live within your means Tic Toc-ers, Social infuencers, & Imbeciles.
I do, and I’ve been working steady since I was 16 years old, and 6 days a week since the SCAM-DEMIC.
My personal vehicle is a 2014 Subaru Legacy Base model but I KILLED my mortgage in 1994.
Understand what they are saying
Despite Corrections, Tight Affordability
Higher Rates, Price Declines
Steep Decline, Stagnant Inventory
Annualized Appreciation
Bottom Line: It’s a Buyers Merket
Buy Buy Buy
Rates have never been lower
They want your Money
Buy One McMansion, Full Bankers Rate
Get One minimcMansion Free for investing and taxes
Everyone of them will be bailed out by the Federal Government prior to the next election as sponsored by Democrats and paid for by you, taxpayer.
I have been paying my mortgage for 24 years and have 3 payments (refinanced in 2014 to add an addition) left. Just in time for us to begin thinking about a tiny house in Florida away from the tourists areas.
This is not my government’s bidness nor should it interest them but the demmies want it to house welfare illegals in it. Saw a bus load of illegals parked at a warehouse complex today just south of my house. Started the community phone reminding everyone to be careful about their kids, doors, cars, and stores.
Point is this: all of those illegals will end up in these repossessed homes and the originals who can no longer afford them will be in FEMA camps guarded by UN troops.
Democrat governance ALWAYS fu*ks things up and the useful idiots always follow along, voting for the free cheese (token cash handouts).
Underwater and less than 10% equity; first balloon payment and they’ll walk away, or just quit paying and squat.
In order for people to buy low & sell high, they require others who buy high & sell low.
We’re in the market for a home in another state. Unfortunately, I have to do to a seller what my buyer is going to do to us.
I close next week on the home my parents left to me. I worry about the young family buying it because of where Biden and the Commiecrats are taking the country. I wish them well, but they have a real struggle ahead of them. I hope they make it.
Dr. Hambone,
We wanted to own something & have our tiny piece of something ours.
Many young people are happy to live in a virtual world where they are Wizards, influencers & super heros.
They won’t notice shit nor care. (unless the inter webby thing goes down)
cheers.
@Kcir
I hate to sell the place as it has wooded land with plenty of game, wonderful well water and good rich soil to grow things in. It’s where you can blast bad guys and the sheriff will thank you for it. Alas, it’s too much to maintain for a guy like me who is getting up there in age. I can’t tell you how many deer I have killed there over the years, but I believe I shot my last deer there on December 5th. Going miss that a lot. Fresh venison is good.
Black Knight’s HPI showed that while home prices continued to pull back in October, the month’s 0.43% decline (a seasonally adjusted 0.13% decrease) was the smallest seen since prices peaked in June
Annualized appreciation slowed to 9.3% from September’s 10.7%, marking the seventh consecutive month of cooling, but the smallest such decline since May
New for-sale listings in October were 19% (-94K) below 2017-2019 levels, marking the largest deficit in six years – outside of March and April 2020 when much of the country was in lockdown
Three months of stalled inventory growth is softening downward pressure on home prices from home affordability that still remains near 35-year lows
Despite the slowdown in price corrections, equity risk among 2022 purchase mortgages persists, while risk remains minimal among those who bought 12 or more months ago
Of all homes purchased with a mortgage in 2022, 8% are now at least marginally underwater and nearly 40% have less than 10% equity stakes in their home, a situation most concentrated among FHA/VA loans
Overall, at just 0.84%, negative equity rates among all mortgaged properties remain extremely low by historical standards
More than 25% of 2022 FHA/VA purchase mortgage holders have now dipped into negative equity, with 80% having less than 10% equity
Early-payment defaults – loans delinquent within six months of origination – have been rising among FHA borrowers over the past year and now sit above pre-pandemic levels
JACKSONVILLE, Fla. – Dec. 5, 2022 – Today, the Data & Analytics division of Black Knight, Inc. (NYSE:BKI) released its latest Mortgage Monitor Report, based on the company’s industry-leading mortgage, real estate and public records datasets. Despite home price corrections continuing in many markets nationwide driven by tight affordability and higher rates, the pace of price declines has slowed measurably over the past two months. As Black Knight Data & Analytics President Ben Graboske explains, what would ordinarily be an environment ripe for steep declines in home prices has been offset somewhat by stagnant levels of for-sale inventory. more
And 99% of all financed cars are underwater. That hasn’t destroyed the auto sales market.