New Home Mortgage Applications Surged Nearly 40 Percent in October

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Remote Work Leading To More Revenue Growth For Companies link

• Companies with rigid office attendance policies are experiencing slower revenue growth compared to those with flexible work arrangements. Firms enforcing a five-day office week have seen a 1.1% increase in revenue, significantly lower than the 3.2% growth of companies with flexible policies.

• Employee preferences are shifting towards flexible work environments. 43% of workers prefer a mix of remote and office work, indicating a strong trend towards hybrid models.

• The impact of strict office policies extends to talent retention and recruitment. Companies with inflexible policies are facing challenges in attracting and retaining talent, as employees increasingly value flexibility.

New Home Mortgage Applications Surged Nearly 40 Percent in October link

• October saw a dramatic 40% surge in new home mortgage applications compared to September, indicating a robust rebound in the housing market. This increase is a significant shift from previous trends, reflecting growing consumer confidence and demand for new homes.

• The average loan size for new homes reached $412,000 in October, an increase from September's $408,000. This rise in loan size suggests that buyers are investing in more expensive properties, possibly due to a combination of low mortgage rates and a competitive housing market.

• Despite the surge in applications, the actual number of completed new home sales did not match the pace, remaining relatively flat. This discrepancy highlights the ongoing challenges in the housing supply chain, including material shortages and labor constraints, which are affecting the completion of new homes.

Realtor.com Reports: Active Inventory Up, New Listings Down in October 2023 link

• October 2023 saw a significant 33% year-over-year increase in active housing inventory, indicating a shift in the housing market. This change suggests more options for buyers, potentially easing the competitive market conditions experienced in previous months.

• Despite the rise in active listings, new listings dropped by 16% compared to October 2022. This decrease could signal a reluctance among sellers to enter the market, possibly due to economic uncertainties or waiting for better pricing conditions.

• The median listing price continued to grow, but at a slower pace of 13.3% year-over-year. This slower rate of increase may reflect a balancing market, where price growth aligns more closely with historical norms, offering some relief to buyers.