Did you know?
* After peaking at $47.7 trillion in June 2022, the total value of US homes declined by $2.3 trillion, or 4.9%, in the second half of 2022. (Bloomberg)
* Of homes purchased in January, 29% were all-cash transactions, up from 28% in December and 27% one year ago. (BARRONS)
* The Federal Housing Administration will reduce the fee borrowers pay to have their mortgages insured by the agency by about $800 a year on a typical loan, or 0.3 percentage point. (Bloomberg)
* In less than one month the price of lumber dropped over 27%….down over 75% off its 2021 high…….lumber is a good indicator of builder demand…..
Compiled by Leonard Steinberg, Compass Manhattan