Housing Wire

NOVEMBER 9, 2022

But I need to explain why this level has more in common with 2014 housing data than the credit stress markets of 2005-2008, and why you should care. This time around, we have not seen the kind of housing credit boom that we did from 2002-2005. Purchase application data is now below 2008 levels! This means less demand for housing.

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New Listings Inventory Housing Market Sellers 494

Housing Wire

JANUARY 2, 2024

And the peak in existing home sales was 2005 when you had around 7 million transactions.” That’s what I think is invariably going to happen because you’re going to have more seniors, the silver tsunami, selling and there are fewer buyers so the give is going to be lower home prices.” homeowners.

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Housing Wire

AUGUST 30, 2022

However, we haven’t had a credit sales boom like the one we saw from 2002-2005. Total Inventory had been growing from 2001-2005; total listings data in 2005 was at the higher historical range of 2.5 However, not to the degree we saw from 2005-2008. million listings. Today, we stand at 1,310,000 active listings.

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Inventory New Listings Law Housing Market 384

Housing Wire

FEBRUARY 15, 2024

years in 2005, according to a Redfin analysis of median U.S. Long homeowner tenure, particularly among baby boomers, is an obstacle for young first-time buyers trying to break into the market,” the report read. “A years last year, up from 6.5 homeowner tenure by year using county records.

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Property Taxes Insurance Construction Inventory 466

Housing Wire

MAY 9, 2022

housing market is more tied to mortgage buyers. Unlike those two cities in Canada, we aren’t as reliant on foreign buyers to such a great extent. foreign buyers have always been less than 300,000 of total home sales for many years. from 2002-to 2005, which led to forced credit selling. In addition, the U.S.

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Buyers Housing Market Mortgage Marketing 530

Housing Wire

MARCH 1, 2023

The goal of the expansion is to provide homeowners and buyers, along with real estate, legal, and tax professionals, the option to order an appraisal directly through Opteon’s services, according to a statement from the company. Opteon, founded in 2005, operated in Australia and New Zealand before expanding into the U.S.

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Appraisal Valuation Technology Real Estate 365

Housing Wire

SEPTEMBER 28, 2020

No, this is not a new home sales housing bubble as we are far from total new home sales being where they were in 2005. The monthly supply of new homes was mostly higher every month in the previous expansion (2008-2019) than any period from 1996-2005. At that time, the new home sales sector got so bad that I put it in the penalty box.

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Inventory Buyers Mortgage Housing Market 527

Housing Wire

NOVEMBER 13, 2023

The writer in the Economist says, “…either the fat fee [real estate commission] inflates the house price, or the buyer ends up paying a similar fee when he or she sells.” This is from the Editorial Board of The Wall Street Journal, “Ninety percent of transactions offer buyer agent commissions of exactly 3%.”

Real Estate 358

Real Estate Realtors Agents Buyers 358

Housing Wire

AUGUST 21, 2020

The second part of this story that folks seem to forget is that the existing home sales market only needs 4 million mortgage buyers a year to remain stable. Note too, that the housing market for the last many years has been composed of 15-20% cash buyers – that is a big chunk of buyers that don’t need a mortgage in order to purchase.

Housing Market 544

Housing Market Mortgage Buyers Marketing 544

Housing Wire

MAY 18, 2023

We don’t have a massive credit boom as purchase application data is at historical lows; we haven’t had the same run-up in credit as we saw from 2002-2005. You would need years of credit stress building up, as we saw in 2005-2008, all before the job loss recession data. This is not, nor can it ever be, like 2008.

Housing Market 539

Housing Market Marketing Inventory Mortgage 539

Housing Wire

JUNE 30, 2021

Pending home sales reached its highest mark for the month of May since 2005, up 8% from the previous month of April as low inventory continues driving buyers to snatch up available real estate. “Buyers are still lining up a feverish pace,” Yun said. “Buyers are still lining up a feverish pace,” Yun said.

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Supply Chain Inventory Buyers Realtors 421

Housing Wire

JULY 1, 2021

Pending home sales metrics released by the National Association of Realtors on Wednesday revealed pending home sales reached its highest mark for the month of May since 2005, up 8% from the previous month of April. More recently, however, mortgage applications dipped 6.9% last week, according to data from the Mortgage Bankers Association.

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Mortgage Housing Market Realtors Inventory 500

Eyes on Housing

MARCH 2, 2023

In 2005, Congress established several energy-efficiency tax incentives related to housing that benefit new-home buyers and remodeling homeowners. Taxpayers claim these residential energy credits using Form 5695.

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Buyers 117

Housing Wire

JULY 29, 2021

Though the desire for buyers to purchase a new home remains strong, skyrocketing prices are putting the dream out of reach for some buyers, economists in the housing industry said. May’s 8% increase was the highest jump for that month since 2005, according to NAR. The overall pending home sales index fell 1.9% in 2022.

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Marketing Buyers Realtors Real Estate 441

Housing Wire

DECEMBER 21, 2022

” One of the housing economic realities that I have been trying to stress this year is that a traditional seller of a home is typically a buyer as well. This means what we saw in 2005-2008 with the inventory spike was a historic event that hasn’t been replicated at any time in recent U.S. economic history. .

Inventory 527

Inventory New Listings Housing Market Sellers 527

Housing Wire

DECEMBER 7, 2022

As you can see from the chart above, the last several years have not had the FOMO (fear of missing out) housing credit boom we saw from 2002-2005. What I mean by a credit bust is that after the housing bubble burst in 2005 into 2006, we saw a massive increase in supply. Total inventory levels. NAR: Total Inventory levels 1.22

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Housing Market Mortgage Marketing Inventory 544

Housing Wire

APRIL 1, 2021

“This is confirmation that while purchase demand remains strong, the marginal buyer is feeling the affordability squeeze resulting from the increases in mortgage rates and home prices we’ve experienced in recent months.”. The housing market is in desperate need of more inventory to cool price growth and preserve affordability.

Mortgage 421

Mortgage Inventory Housing Market Marketing 421

Housing Wire

OCTOBER 8, 2021

Homes remain much more affordable in 2021 than they were during the home price runup in 2005 and 2006, but the seven-month trend in deteriorating affordability is starting to gradually slow demand. Auction.com buyer Steve Johnson purchases and renovates distressed homes in Georgia and Tennessee. Homebuyers Losing Heart.

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Renovations Inventory Marketing Property Taxes 543

Housing Wire

DECEMBER 23, 2020

a record low in the series dating back to 1963, while the share of homes sold-but-not-yet-started was at a level only seen during the housing bubble in 2005.” Eager buyers have been snapping up available new homes, an increasing share of which have not even begun construction, at their highest pace in years.

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Construction Inventory Buyers Marketing 348

Housing Wire

MARCH 18, 2022

NAR Research : First-time buyers were responsible for 29% of sales in February; Individual investors purchased 19% of homes; All-cash sales accounted for 25% of transactions; Distressed sales represented less than 1% of sales; Properties typically remained on the market for 18 days. We have solid replacement buyers: people needing shelter.

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Housing Market Marketing Inventory Sellers 542

Housing Wire

MAY 26, 2022

Some buyers who couldn’t qualify for a conventional mortgage turned to an ARM to make lower monthly payments. But when rates began to soar starting in 2005, increased foreclosure rates led to a housing market crash in 2008. The post Financial institutions jump into ARMs amid high rates appeared first on HousingWire.

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Loan Officers Housing Market Mortgage Buyers 397

Housing Wire

SEPTEMBER 8, 2022

So when you add move-up buyers, move-down buyers, first-time homebuyers, cash buyers and investors together, this can get out of hand. The National Association of Realtors’ total Inventory data shows that historically we have between 2 to 2.5 million homes for sale, but in 2022 we got as low as 870,000 in total inventory.

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Inventory Law Housing Market Design 544

Appraisal Buzz

MAY 17, 2021

Between 2002-2005 in many markets, the real estate market was scorching, much like it is today. Prices were escalating quickly, and buyers were purchasing in a frenzy for fear of being left behind and not being able to get their foot on the property ladder. This is no different than ignoring declining trends. How do we combat this?

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Appraisal Clients Real Estate Sellers 418

Housing Wire

JANUARY 20, 2023

From NAR : “December was another difficult month for buyers, who continue to face limited inventory and high mortgage rates ,” said NAR Chief Economist Lawrence Yun. This means we don’t have enough housing inventory available because with lending standards back to normal we can’t replicate the credit demand we saw in housing from 2002-2005.

Inventory 541

Inventory Housing Market New Listings Marketing 541

Housing Wire

NOVEMBER 18, 2022

NAR Research : First-time buyers were responsible for 28% of sales in October; All-cash sales accounted for 26%; Individual investors purchased 16%; Distressed sales represented 1% of sales; Properties typically remained on the market for 21 days in October. Now we are getting the call back to balance, which is good.

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Inventory Marketing Housing Market New Listings 473

Housing Wire

OCTOBER 20, 2023

No buyer must use a real estate agent — ever. A meaningful percentage of buyers did not hire a real estate agent when they bought their last home. RealTrends + Harris Insights ‘ studies from 2002, 2005, 2006, 2011, 2014, and 2019 all show that consumers know that commissions are negotiable.

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Real Estate Agent Real Estate Brokerage Agents 431

Housing Wire

MAY 4, 2022

Demand driven by demographics is different than demand driven by mortgage finance innovation and “fix-and-flip” home buyers, as was the case in the mid-2000s. The only period when the median sale price was greater than house-buying power was from 2005 through 2007, indicating an overvaluation of housing, or a “housing bubble.”

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Housing Market Finance Marketing Mortgage 375

Housing Wire

APRIL 20, 2022

Housing demand has been stable for the past few years; we have never had a credit boom in demand since 2002-2005. So, we never had a credit bust as we saw from 2005 to 2008. From NAR : Total existing-home sales dipped 2.7% from February to a seasonally adjusted annual rate of 5.77 million in March.

Housing Market 491

Housing Market Marketing Inventory Mortgage 491

Housing Wire

DECEMBER 29, 2020

Built in 2005, the property was completely overhauled by Kardashian upon purchase. If you’re curious about the identity of the lucky buyer of Kardashian’s estate, cosmetics entrepreneur turned Youtube guru Dhar Mann is the chosen one, according to Variety. Even more impressive? That’s more than double the $7.2

Real Estate 384

Real Estate Decorating Architecture Buyers 384

Housing Wire

NOVEMBER 16, 2020

The city’s housing dynamics point to strong buyer demand, which fueled a 16.8% While about 50% of the metro area’s buyers are local, an additional 17% of buyers come from other Texas cities, like Dallas and Houston. Even the crazy market we had in 2005 and 2006, it was nothing like this. 7,” Raitu said.

Housing Market 421

Housing Market Real Estate Agent Marketing Real Estate 421

Housing Wire

MARCH 28, 2022

Logan Mohtashami: Rising rates make housing less affordable, so for a first-time home buyer that doesn’t have the benefit of selling their home with that nested equity, it makes it harder for them. This is much different from the marketplace we saw from 2002-2005, a massive credit bubble. months on a 3-month average.

Housing Market 353

Housing Market Marketing Supply Chain Inventory 353

Housing Wire

MAY 19, 2022

Because we had a housing credit bubble from 2002 to 2005, the credit demand push on exotic loan debt structures was a setup for future forced credit selling. Even though mortgage rates are historically low, they still always matter because mortgage buyers are the biggest homebuyers in America.

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Housing Market Marketing Inventory Realtors 524

Empire Appraisal Group

JULY 29, 2021

The April Case-Shiller home price report found prices rising at their highest pace since 2005, and the forces pushing prices higher offer “little evidence of abating.”. home prices soared in April at the fastest pace since 2005 as potential buyers bid up prices on a limited supply of available properties. WASHINGTON (AP) – U.S.

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Realtors Buyers Realty Real Estate 78

Cleveland Appraisal Blog

DECEMBER 10, 2022

I can tell you that some buyers will certainly agree with these points! Therefore, when making any renovations to increase your home’s worth, always keep in mind that potential buyers may have very different tastes from you. Let’s take Hurricane Katrina in 2005 as a famous example. Betty is not an appraiser.

Appraisal 298

Appraisal Buyers Renovations Investing 298

Housing Wire

APRIL 30, 2023

We have to remember that a conventional seller is usually also a traditional buyer, so new listings growing toward their seasonal peak throws cold water on the idea that no one will list their homes because they already have a low mortgage rate (the mortgage rate lockdown theory). didn’t go into recession until 2008.

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Inventory Housing Market Marketing New Listings 520

Housing Wire

DECEMBER 29, 2022

The housing market of 2002-2005 had four years of sales growth facilitated by credit. As we can see below, the purchase application data had four years of growth, peaking in 2005 and then collapsing. However, what isn’t identical is that we have not had a massive sales boom like we saw from 2002-2005. million in 2005.

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Housing Market Marketing Inventory Sellers 545

Lamacchia Realty

JULY 26, 2023

The rising rates over the past 16 months have decelerated the number of sales as buyer affordability has been greatly diminished and because sellers are hesitating to list. For Massachusetts, data goes back to 1995 with the highest number of Q1 listings in 2005 at 42,162 and 2023 with 15,423 listings.

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Sellers Buyers Real Estate Realty 60