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As home prices increase, sellers have the upper hand

Housing Wire

points, but has recovered more than half of its early pandemic-period decline when April’s HPSI hit its lowest reading since November 2011. August’s HPSI survey revealed both a confident seller’s and buyer’s market, however, Fannie Mae reported September buyers showing more hesitancy. Presented by: NAMB. As of Oct.

Sellers 537
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Seller Filed a Racial Bias Complaint Against Me

Appraiserblogs

Could it be because of the racial bias complaint filed against me by an unhappy Seller… Fannie Mae accomplished what they set out to do in July 2011, when they initiated their Uniform Appraisal Dataset (UAD) and the Uniform Collateral Data Portal. So what’s caused the sudden loss of income?

Sellers 126
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Risks of nonbank mortgage sellers and servicers revisited

Housing Wire

These were 2000-2003, 2004-2008Q2, 2008Q3-2011, and 2012-2015. Note that for the 180DPD+ model the 2012-2015 period was collapsed with the 2008Q3-2011 period based on the machine learning results. The post Risks of nonbank mortgage sellers and servicers revisited appeared first on HousingWire.

Sellers 421
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Buyers and sellers agree: it’s a good time to enter the housing market

Housing Wire

points, but has steadily recovered over 60% of its COVID-19 pandemic loss when April’s HPSI hit its lowest reading since November 2011. While the state of the market shines brightly for prospective buyers and sellers, the economy overall is showing some slight hesitation. Compared to this time last year, the HPSI is still down 7.1

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All-cash transactions gain traction amid high mortgage rates: Redfin

Housing Wire

metropolitan areas since 2011. FHA loan usage increases in September As sellers field fewer offers, buyers with FHA loans may have greater luck to close on a home. Oakland, California, and San Jose, California, as well as Seattle posted the smallest share of all-cash transactions at 18%, 18.2% and 20.3%, respectively. in April 2023.

Mortgage 441
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Housing inventory defied all predictions in 2023

Housing Wire

Since I believe most home sellers are also homebuyers, once new listings created a new low level after mortgage rates reached over 6% in 2022, it added another layer of home demand falling off a cliff. From 2008-2011, new listings data averaged between 250,000 and 400,000 , peaking near 400,000 in 2011.

Inventory 515
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Homebuyers are extremely pessimistic about the housing market

Housing Wire

“The HPSI declined this month to its lowest level since October 2011,” Doug Duncan, Fannie Mae’s senior vice president and chief economist, said in a statement. Moreover, 75% of consumers still think it’s a bad time to buy a home, with most citing high home prices and unfavorable economic and mortgage rate conditions as primary reasons.”.