Housing Wire

AUGUST 23, 2023

Bad news for mortgage professionals: not only are mortgage rates at their highest level in over two decades, they might not drop anytime soon. On Wednesday morning, the 30-year fixed mortgage rate was 7.29% at HousingWire’s Mortgage Rates Center and 7.49% on Mortgage News Daily. But it would require the U.S.

Mortgage 353

Mortgage Loan Officers Inventory Housing Market 353

Housing Wire

MARCH 12, 2024

Despite elevated interest rates and tight inventory, the national Hispanic homeownership rate reached 49.5% homeownership rate was close to a record high in census data going back to 2000. Latinos have historically relied on low down payment mortgage options for home purchases. In total, more than 9.5 of overall U.S. And the 49.5%

Real Estate Agent 436

Real Estate Agent Real Estate Buyers Realty 436

Housing Wire

APRIL 25, 2023

Mortgage financing and the prospect of economic weakness are therefore likely to remain a headwind for housing prices for at least the next several months,” Lazzara said. However, despite the recent uptick, the continued low inventory conditions are expected to keep home prices elevated nationally. yearly increase, down from 2.5%

Inventory 309

Inventory Contracts Buyers Sellers 309

Housing Wire

MAY 16, 2023

The NAHB/HMI report is based on a monthly survey of NAHB members, in which homebuilders are asked to rate both current market conditions for the sale of new homes and expected conditions for the next six months, as well as traffic of prospective buyers of new homes. That share from 2000-2019 was a 12.7%

Construction 393

Construction Inventory Buyers Housing Market 393

Housing Wire

NOVEMBER 21, 2022

The latest forecast also projects that total mortgage origination activity is slightly increased at $2.34 The mortgage market is projected to slip further, however, to $1.74 With rates at escalated levels, it is affecting home buyers facing affordability challenges. . million in 2022 before dropping to 4.42 million in 2024.

Contracts 353

Contracts Government Mortgage Buyers 353

Housing Wire

MAY 2, 2023

And there’s another thing that separates the housing market from other markets — the buyer is often also the seller. In most markets, the seller, or supplier, makes their decision about adding supply to the market independent of the buyer, or source of demand, and their decision to buy. years in March 2023, according to recent data.

Housing Market 344

Housing Market Marketing Sellers Inventory 344

Housing Wire

NOVEMBER 29, 2023

Cutting prices is one of several mechanisms homebuilders have employed to keep buyers interested since rates began skyrocketing. Home construction New home construction ramped up early in the pandemic but moderated as interest rates ticked up and mortgage rates followed.

Construction 358

Construction Finance Inventory Development 358

Housing Wire

OCTOBER 26, 2022

New home sales are now below the recession levels of 2000 and have fallen all the way to 1996 levels, when interest rates were near 8%. This doesn’t mean sales can’t fall further from here, especially with rising mortgage rates. We saw some stabilization in the data when mortgage rates fell from 6.25% to 5%. When supply is 4.4

Construction 433

Construction Inventory Contracts Buyers 433

Housing Wire

DECEMBER 12, 2023

While sellers of existing homes have struggled with rising rates and softening demand, homebuilders have not only survived, but thrived in this market thanks to the use of mortgage rate buydowns , a tool more widely used by builders since their business is selling homes and clearing inventory.

Tools 365

Tools Inventory Sellers Buyers 365

Housing Wire

FEBRUARY 24, 2023

9 up until the early part of February as mortgage rates fell from 7.37% to 5.99%. They don’t ever have to have the conversation about how low their total payment is in the new home they’re buying, unlike some of their buyers (which explains higher cancellation rates). However, this isn’t how inventory grows in America.

Inventory 418

Inventory Construction Housing Market Mortgage 418

Housing Wire

DECEMBER 29, 2022

The housing sector — especially real estate and mortgage — has seen significant layoffs , while the general economy will create more than 4 million jobs in 2022. Then we had the biggest mortgage rate shock in recent history and yet even with that, we will have over 5 million total home sales this year. Housing inventory.

Housing Market 544

Housing Market Marketing Inventory Sellers 544

Housing Wire

JANUARY 6, 2022

In November 2021, the supply of homes for sale nationwide as a percentage of occupied residential inventory remained near historic lows at 1.19% — meaning only 119 in every 10,000 homes were for sale — much lower than the historical average of 2.5%.

Supply Chain 493

Supply Chain Housing Market Construction Inventory 493

Cleveland Appraisal Blog

OCTOBER 14, 2021

At that time, the handful of bad appraisers doing this kind of thing were also getting a lot of business from lenders and mortgage companies, because they were hitting the numbers, while honest appraisers were beginning to lose business. It is interesting that inventory levels were increasing rapidly in the years leading up to 2008.

Inventory 243

Inventory Market Value Appraisal Contracts 243

Housing Wire

AUGUST 23, 2022

Tuesday’s new home sales report missed expectations and had negative revisions, which isn’t surprising given this sector of our economy simply can’t handle higher mortgage rates. This is below the recession levels of 2000 and back to 1996 levels. After all, sales levels are already low historically for new homes.

Construction 369

Construction Housing Market Sellers Marketing 369

Lamacchia Realty

JANUARY 25, 2024

This scarcity in inventory exerted upward pressure on prices, although it coincided with a 19% decline in sales. Despite this decline, motivated buyers were out there trying to secure a home while also trying to navigate lower affordability and low inventory. Average prices for closed sales increased by 7.2% Sales Decline by 18.9%

Inventory 52

Inventory Sellers Buyers Contracts 52

Will Springer Realtor

APRIL 10, 2024

Allegations of collusion to inflate compensation paid to both buyer and seller agents in transactions prompted this landmark settlement, estimated at a staggering $418M. This move, while aiming to “decouple” buyer and seller compensation, may inadvertently reduce transparency for consumers when reviewing home-sale listings.

Real Estate 36

Real Estate Buyers Sellers Insurance 36

Lamacchia Realty

JANUARY 25, 2024

It kept inventory down, which propped up prices, but sales are down nearly 22%, and buyers are hungry. With rates trying to reach equilibrium after their nosedive in 2020, everyone has had to accept that pandemic-era rates are a thing of the past and therefore higher monthly mortgage payments are here to stay.

Inventory 69

Inventory Sellers Contracts Buyers 69

Lamacchia Realty

JANUARY 25, 2024

reduction in sales, leaving prospective buyers eager to make a move. As interest rates sought to stabilize following their sharp decline in 2020, both buyers and sellers had to acknowledge the end of the era of historically low pandemic-induced rates, and the beginning of higher monthly mortgage payments. Sales Decline by 23.2%

Inventory 57

Inventory Sellers Buyers Real Estate 57

Empire Appraisal Group

APRIL 13, 2023

LOS ANGELES (AP) – Homebuilder stocks are on a tear as investors bet that a dearth of previously occupied homes on the market and moderating mortgage rates will boost builders’ prospects in the spring homebuying season. An easing in average mortgage rates this year has also helped entice some buyers.

Marketing 78

Marketing Buyers Investors Realtors 78

Lamacchia Realty

JANUARY 30, 2024

This scarcity in inventory had the effect of keeping prices high, but there was a substantial decrease in sales, approximately 19%, leaving prospective buyers eager. This resilience is more attributable to the reduction in inventory rather than a decline in sales. Maine Sales Decreased by 18.9%

Inventory 54

Inventory Sellers Buyers Contracts 54

Lamacchia Realty

DECEMBER 28, 2022

It will be much like 2021, with record-breaking amounts of home sales, more record-breaking home price appreciation, and more buyers fighting over homes. Below is a bar graph of homes sales per year in Massachusetts back to 2000. At that time we had an extreme overabundance of sellers and not enough motivated buyers.

Sellers 78

Sellers Buyers Real Estate Inventory 78

Lamacchia Realty

JANUARY 27, 2023

in Massachusetts The 2022 Massachusetts Year in Review Housing Report breaks down average prices, sales, inventory, new active listings, and pending sales for 2022 compared to 2021 and illustrates what that means for the current market. Market adjustments, global pandemics, and anemic inventory are not for the faint of heart.

Inventory 63

Inventory Buyers Real Estate Sellers 63

Will Springer Realtor

FEBRUARY 9, 2022

The affordability question is becoming more difficult to justify too, as home prices and interest rates rise amid other challenges facing buyers.“That’s That’s a triple whammy hitting potential homebuyers,” notes Len Kiefer, deputy chief economist at Freddie Mac, which buys many of our mortgage loans from lenders.

Buyers 36

Buyers Law Inventory Development 36

Empire Appraisal Group

SEPTEMBER 8, 2022

The housing market has taken a few hits, such as a doubling of mortgage rates in 2022, but it remains solid even if legitimate news providers suggest doom and gloom. Scary times: builders are slashing home prices and slowing construction as buyers pull back, survey shows” (MarketWatch). Housing Market Collapse? Nowhere in Sight.

Housing Market 78

Housing Market Marketing Real Estate New Listings 78

Will Springer Realtor

OCTOBER 10, 2023

This is the season when buyers can take advantage of homeowners wishing to sell before the holidays and are showing a willingness to budge on price or make other concessions. The good news for buyers: Experts from the American Enterprise Institute believe prices will inch lower – down about 1.3% Single-family inventory is 1.8

Buyers 64

Buyers Inventory Sellers Housing Market 64

Will Springer Realtor

JUNE 13, 2023

Home prices and mortgage rates. Unfortunately for buyers, both figures – prices and rates – are climbing, raising the hurdle to homeownership even higher for many. Unfortunately for buyers, both figures – prices and rates – are climbing, raising the hurdle to homeownership even higher for many.

Buyers 36

Buyers Inventory Construction Finance 36

Berkshire Hathaway

FEBRUARY 23, 2021

In real estate we measure supply and demand based on what we call “months’ supply of inventory.” What that is based on is the number of current homes for sale compared to the number of buyers that are on the market. This time around months’ inventory has been under 5 months for the last three years and it currently stands at 1.9

Home Value 36

Home Value Inventory Real Estate Mortgage 36

Will Springer Realtor

DECEMBER 14, 2021

Buyers will continue to outstrip sellers by a significant margin but less extreme than in 2021. A majority of those said their home no longer meets their needs – space, features, location – and they want to take advantage of favorable mortgage rates. mortgage rates sound? That was the average national figure in 2000.).

Real Estate 69

Real Estate Buyers Construction Sellers 69

Appraisal Today

MAY 17, 2024

NOTE: Please scroll down to read the other topics in this long blog post on Geographic Data and Comps, effect of renovation on value, very low foreclosures now, current real estate market, unusual homes, mortgage origination stats, etc. = = $99.5M For buyers, I tell them to look for these homes for sale. baths, 45,000 sq.ft.,

Tools 64

Tools Appraisal Renovations Design 64

Appraisal Today

JUNE 23, 2023

NOTE: Please scroll down to read the other topics in this long blog post on AVMs and AI, good appraisal book, Real estate market, Fannie, non-lender appraisals, unusual homes, mortgage origination stats, etc. He designed the estate, completed in 2000, from the ground up. Inaccurate or biased algorithms can lead to serious harm.

Appraisal 86

Appraisal Real Estate Valuation Contracts 86

Appraisal Today

OCTOBER 20, 2023

NOTE: Please scroll down to read the other topics in this long blog post Modular Homes Data Plates, ADU income, Pickleball courts and other interesting home improvements, , unusual homes, mortgage origination and more! Some use postal mailings or office visits, such as you did in the mortgage broker days.

Appraisal 71

Appraisal Design Contracts Inspection 71

Appraisal Today

JULY 29, 2022

NOTE: Please scroll down to read the other topics in this long blog post on USPAP Update Mistakes on Bias, Real Estate Market analysis, the FED raises interest rates, unusual homes, mortgage origination stats, etc. Spiking housing supply & fewer buyers. We’ve seen a massive change in housing inventory. July 25, 2022 .

Real Estate Agent 52

Real Estate Agent Real Estate Appraisal Agents 52

Houston Properties

JANUARY 12, 2022

Why We're Fearful: Buyer & Seller Mistakes. I’m A Buyer. Why We’re Fearful: Buyer & Seller Mistakes. "A The root causes of buyers overpaying are similar: Using an inexperienced agent (one with less than 6 transactions in total). This is the classic case of a buyer putting emotions over data.

Real Estate 36

Real Estate Marketing Real Estate Agent Realtors 36

Appraisal Today

SEPTEMBER 1, 2023

NOTE: Please scroll down to read the other topics in this long blog post on MLS hacked, Wells Fargo discrimination, unusual homes, mortgage origination = $274K Bedford, Pennsylvania Mansion Comes With Its Own Jail Excerpts: 5 bedroom, 1.5+ Mortgage applications increased 2.3 August 30, 2023) — Mortgage applications increased 2.3

Appraisal 78

Appraisal Contracts Mortgage Real Estate 78

Appraisal Today

MAY 12, 2023

NOTE: Please scroll down to read the other topics in this long blog post on humor, non-lender appraisals, mortgage forecast, staying positive when you’re slow, unusual homes, mortgage origination stats, etc. In 2000 and 2002, Architectural Digest named him one of the top 100 architects in the United States.

Appraisal 52

Appraisal Architecture Business Contracts 52

Will Springer Realtor

MARCH 11, 2024

However, in today’s market, the overlooked costs of running a household have taken center stage, demanding attention and strategic planning from homeowners and prospective buyers alike. Some are even considering forgoing insurance altogether, risking their financial security once mandated by mortgage lenders. in Q3 to 53.5%

Insurance 36

Insurance Sellers Real Estate Buyers 36

Appraisal Today

MAY 5, 2023

NOTE: Please scroll down to read the other topics in this long blog post on Appraisal Institute President, non-lender appraisals, Changing state appraisal laws, Fannie modernization, unusual homes, mortgage origination stats, etc. Mortgage applications decreased 1.2 percent from one week earlier Mortgage applications decreased 1.2

Appraisal 52

Appraisal Contracts Architecture Law 52