News Digest - September 1, 2021

News Digest

By Frank Pellegrini

As we head into Fall following a productive Spring and Summer in the real estate industry, let’s take a look at the trends in our business. In the newest issue of News Digest, we’ve compiled stories of interest from expert real estate sources. We believe you’ll continue to find that News Digest is a valued source of information.

U.S. New Home Sales Creep up; Supply, Prices Remain

Reuters reports that sales of new U.S. single-family homes increased in July after three straight monthly declines, but housing market momentum is slowing as surging housing prices amid tight supply sideline some first-time buyers.

But, NAHB Reports Cooling Trends Continue for Building

The pace of home building continued to slow in July, blighted by a combination of supply-chain constraints and diminishing housing affordability as the NAHB/Wells Fargo Housing Market Index fell 5 points to a level of 75.

United Wholesale Mortgage Plans to Accept Bitcoin for Mortgage Payments Detroit Free Press

United Wholesale Mortgage CEO Mat Ishbia said in August that the Pontiac-based company plans to start accepting cryptocurrency for payments before year’s end, making it the first major nationwide mortgage lender to do.

Realtor Magazine: 5 Mortgage Trends to Watch

Buyers have fueled a red-hot housing market over the last year as they rushed to secure record-low mortgage rates. But shifts are underway, which may affect borrowers planning for their next home.

How flexibility, Innovation and Strategic Foresight Helped Chicago’s Construction Industry Push through the

When in a pinch, general contractors have to do more than put on their thinking caps — the pandemic-related supply chain issues and runaway costs have forced the industry to innovate and become resourceful in an era when time is more precious than ever.