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Home prices are dropping like it’s 2009

Housing Wire

Home prices are now posting the biggest monthly declines since January 2009, according to the latest Mortgage Monitor report from Black Knight. Median home prices in August fell 0.98% in August, only slightly better than July’s 1.05% monthly decline. Raleigh and Nashville have all shed 3% of home value in recent months.

Inventory 523
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Millennials struggle to compete with boomers for homes

Housing Wire

From 2009 to 2019, the share of recent buyers who are 60 years and old grew 47% , while the share of recent buyers ages 18-39 fell by 13%. From 2009 to 2019, the share of recent buyers who are 60 years and old grew 47% , while the share of recent buyers ages 18-39 fell by 13%.

Buyers 538
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Reverse purchase financing: The financing option no one is talking about

Housing Wire

This cohort accounted for 1,950,000 properties — equating to 39% of total homes purchased! 1 With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and sellers to the table over the next decade. Yet staggeringly few are aware of its existence.

Finance 418
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Mortgage rate locks tumble amid sharp rate rise

Housing Wire

Fewer buyers rushed to lock mortgages last month amid a rapid climb in long-term mortgage rates , reflecting home affordability concerns, reports from Mortgage Capital Trading and Black Knight showed. . Cash-out refinance activity, in contrast, is led by increasing home values by homeowners seeking to tap into their home equity.

Mortgage 368
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HW+ Member Spotlight: Stacy Esser

Housing Wire

His recent article, “Purchase apps are at 2009 level: where’s the inventory?” We can’t just show homes; we have to be a professional real estate business, which means being able to have real conversations when buyers and sellers ask us questions like, “Did we miss the market?” “Are

Sellers 380
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Ready to Buy in Orange County? These Are the Cities You Can Afford

Realvals

Some of the first concerns that come to mind when looking for a new home are the budget and how far that budget will go. To celebrate the New Year and the launch of our real estate appraisal business , we figured we would help out. We wanted to put this concern into perspective for our home turf of Orange County, California.

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Appraisals – Check the Water Source!

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post on real estate market, USPAP and contracts, unusual homes, mortgage origination stats, etc. ==. The number of potential buyers will decrease as rates go up in many markets. We have never seen a pandemic real estate market before.