As previously mentioned, 2021 marked one of the best years for real estate in recent memory. After the coronavirus pandemic stifled home sales throughout the country, the real estate market rebounded at a quicker pace than anticipated. However, the real estate market still deals with longstanding housing inventory challenges. In addition, rising home prices and mortgage rates produce a barrier to entry for prospective first-time home buyers.

With the United States continuing to witness record-setting inflation levels, Chicago home prices see massive appreciation. Of course, this market correction comes after a two-year period of record-low mortgage rates and a lackluster 2020 real estate year. Hot off the trail of 2021’s real estate market rebound, Chicagoland real estate affordability grows farther out of reach for first-time buyers.

After a strong performance towards the end of 2021, existing home sales experienced an unanticipated decline in December. Thus, home sales fell 5% from November to December 2021. However, the United States real estate market realized a massive 8.5% improvement over 2020. In doing so, existing home sales achieved their best year since 2006.

After years of record-low figures, mortgage rates turn volatile as we progress into 2022. With the onset of the novel coronavirus pandemic, mortgage rates plummeted alongside the global economic uncertainty. However, last year, the United States generated a much faster than anticipated economic rebound. In fact, 2021 home sales achieved their best year on record since 2006. One month into 2022, analysts already predict higher mortgage rates before the end of the year.

In the United States housing sector, home buyers face strong barriers heading into 2022. While December 2021 saw major FHFA changes, housing starts and home sales remain competitive.

2021 represented a banner year for real estate, leaving many to inquire about 2022 mortgage rates. Last year, mortgage rates hovered around record low numbers. Real estate experts largely attributed this to the prevalence of the coronavirus pandemic, and its numerous variants.

The end of the year saw housing starts fall short of expectations. Meanwhile, consumer spending skyrocketed heading into the holiday season. After November surpassed October’s 30-year inflation high, the Fed planned to expedite its timeline for tapering bond purchasing. Finally, analysts expect to see plenty of volatility in mortgage markets towards the end of December as trading activity normally declines.

With 2021’s low interest rates, real estate analysts noticed a surprising trend: demand for second homes. In today’s competitive real estate market, buying one home can be challenging enough. This is especially true in the era of COVID-19. However, analysts did not originally predict current homeowners to lead the charge on purchasing that second property.

As the holiday season approaches, investors saw new home sales jump. Additionally, home values rose this year. Many factors play a role in the increase, particularly limited inventory and inflation. Currently, investors worry about future economic growth. This past month, the United States witnessed record-high inflation, supply chain struggles, and job growth struggles.

Last month, the US Supreme Court pass a vote, which lifted the eviction moratorium. Previously, the Biden administration expanded the eviction moratorium.

With COVID numbers growing but unemployment aid ending, it’s possibly very unstable for the economy as experts continue to monitor the ever-changing situations across the country concerning inflation, job growth, and the housing markets.

The Delta variant spurred a startling mortgage rate plummet as of late. Mortgage rates declined as a result of the increasing economic uncertainties. Analysts attribute the uncertainty to the COVID-19 Delta variant and its mutations. As a result, the average 30-year loan rate fell to a five-month record.

Housing and employment pulled pulled off a remarkable rebound after a tumultuous 2020. Last year, both sectors saw numerous setbacks as homes sat idle on the market while businesses laid off hundreds of thousands of workers. Taking a look at July’s data, we see that 2021 is singing a different tune.

An owner’s title insurance policy is critical for protecting you from all types of issues you might have with the title of your home. It is essential and should never be overlooked by homeowners who want to make sure they are fully protected from title issues that could arise. Here, we will go over some top reasons to never pass on title insurance.

The latest data shows that inflation continues its epic climb while home sales rapidly recover across the country. As a result, the outlook on economic growth and future Fed policy remains stagnant. The Fed stated that their core PCE target is 2.0%. In May 2021, core PCE rose 3.4% higher than a year ago. While this is slightly below the consensus forecast, core PCE jumped up from an annual rate of increase of 3.1% in April.

Public record errors have a tremendous impact on property titles. Imagine this. You spend months searching for that perfect dream home. You gain preapproval and sign the contract. The closing process is going smoothly. All of the hard work was worth it, and it’s time to reap the fruits of your labor. Then, all of a sudden, you smash into a major wall.

The property title has public record errors. This wasn’t your fault. But what are the negative consequences?Usually, real estate industry professionals trust public records to be completely true and accurate. But mistakes do happen from time to time. Sometimes, those mistakes affect a homeowner’s title.

Many reports have revealed numbers below expectations as investors begin to look into what the rest of the year has in store as the economy continues to recover from the COVID pandemic.

First-time home buyers search high and low for real estate closing advice. The real estate closing process generates unfathomable stress, especially for first-time home buyers. Prospective home Buyers await news regarding appraisals, property inspections, and title searches. With so many moving pieces, it is challenging to maintain constant vigilance over the process.

Plymouth Title Guaranty Corporation seeks to mitigate that. Some key pieces of advice (and information) help ease home buyers through their first foray in the world of property ownership.