Seattle Real Estate News
Seattle
New Home Mortgage Applications in U.S. Spike 35 Percent in July
Based on the Mortgage Bankers Association's latest Builder Application Survey for July 2023 shows U.S. mortgage applications for new home purchases increased 35.5 percent compared from a year ago. Compared to June 2023, applications increased by 0.2 percent. This change does not include any adjustment for typical seasonal patterns.
U.S. Foreclosures Uptick 5 Percent Annually in July
Based on ATTOM's newly released July 2023 U.S. Foreclosure Market Report, there were a total of 31,877 U.S. properties with foreclosure filings -- default notices, scheduled auctions or bank repossessions -- down 9 percent from a month ago but up 5 percent from a year ago.
U.S. Housing Hits Record Setting $47 Trillion in Total Value in June
According to national property broker Redfin, the total worth of U.S. homes hit a record $46.8 trillion in June 2023. This overtakes the prior all-time high of $46.6 trillion set a year earlier, as a shortage of homes for sale propped up housing values.
U.S. Homebuyer Monthly Payments Up 20 Percent Annually in July
Based on new data from Redfin, the typical U.S. homebuyer's monthly mortgage payment was $2,605 during the four weeks ending in late July 2023, up 19% from a year earlier.
