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The Similarities Between 2007 and Today

Appraisal Buzz

During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs. Between 2002-2005 in many markets, the real estate market was scorching, much like it is today.

Appraisal 418
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Builders apply the brakes amid canceled contracts

Housing Wire

For this reason, the number of housing units “under construction” is the largest ever recorded in history because they were taking so long to finish. For the builders, they have a new problem: they had homes under contract and then mortgage rates jumped in the biggest fashion ever recorded in history. Housing starts.

Contracts 536
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Local Markets: Louisville, Reno and San Diego

Housing Wire

Local markets is a HousingWire magazine feature spotlighting housing trends across the country. Affordable housing prices combined with a vibrant history and a thriving culinary scene have certainly made Derby City a popular destination for homebuyers. However, even Louisville’s active housing market has slowed down recently. “I

Marketing 322
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Existing home sales will drop to 4.78 million in 2023, NAR predicts

Housing Wire

However, markets in California may be the exception, with San Francisco, for example, likely to register price drops of 10–15%.”. When looking at what market will be “the next Austin ,” Yun identified the Atlanta-Sand Springs-Marietta, Georgia as the top market expected to outperform other metro areas in 2023.

Realtors 400
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Only 70,000 new homes available for sale

Housing Wire

housing market. And with total active house listings in America near all-time lows, that is all we have for completed units for sale. So, the bar was very low to just have demand stabilize as rates fell, much like the existing home sales market. months and below, this is an excellent market for builders.

Inventory 516
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The homebuilders got lucky this time

Housing Wire

They have less competition as they are working from low sales levels in today’s housing market. The truth is that if mortgage rates fell below 5.875% and kept going lower, everyone’s housing predictions would need to be revised this year because the builders can sell their homes with lower mortgage rates. When supply is 4.3

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Some mortgage companies expanding despite challenges

Housing Wire

Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. Geneva Financial, founded in 2007 by Aaron VanTrojen, has more than 130 branch locations in 46 states, according to the firm.

Mortgage 382