Wood Markets News


US Multifamily For-Rent Housing Starts Climb Higher in Q3

According to US Census Bureau data, with additional analysis provided by the National Association of Home Builders, the number of multifamily, for-rent housing starts remained elevated in Q3 2022. With 141,000 units started in Q3, this was the largest quarter for rental multifamily construction since Q2 of 1986.

Investors’ Interest in US Housing Market Continues to Cool

Redfin reported today that investor home purchases fell 30.2% year-over-year in Q3. According to Redfin, this is the largest decline since the Great Recession, aside from 20Q2 amid the onset of the COVID-19 pandemic. The decline in investor home purchases outpaced the 27.4% drop in overall home purchases nationwide in Q3.

Mortgage Payments Continued to Rise in October

The Mortgage Bankers Association (MBA) reported on Tuesday that according to its Purchase Applications Payment Index (PAPI), homebuyer affordability continued its downward trend in October, as the national median payment applied for by applicants increased 3.7% to $2,012 from $1941 in September.

Shares of Mortgage Loans in Forbearance Edge Slightly Higher in October

According to the new monthly Mortgage Bankers Association (MBA) Loan Monitoring Survey, the total number of loans now in forbearance increased by 1 basis point, from 0.69% of servicers’ portfolio volume in the prior month to 0.70% as of October 31st. The MBA estimates that 350,000 homeowners are now in forbearance plans.